Auditing Q&As Get 2X Simpler

Course Code   :  ACC373

Course Title   :  auditing and assurance services

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Auditing and Assurance ServicesWhat Are The Key Risks In The Revenue And Marketing Procurement Processes? Since There Are No Process Descriptions We Cannot See Which Controls Oxl Vietnam Has Implemented. Therefore, What Are The Expected Key Controls In Both Processes? How Are We Going To Approach The Audit. Please Think About a Step By Step Approach On How To Test The Processes In Scope? Financial auditing refers to the procedure of e...

Running Head: AUDITING & ASSURANCE AUDITING & ASSURANCE Name of the Student: Name of the University: Author Note: 1 AUDITING & ASSURANCE Answer to Question 1) As per the given case study of The Kleer Glass Co, the five identified sources of strength in the internal control of the payroll system of the company are explained as below: 1. All production staff of the company are issued and provided with aclock card that is sequ...

Course Code   :  ACT4070A

Course Title   :  principles of auditing

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BackgroundBackgroundTucker Engineering, Inc. (“Tucker”), designs, manufactures and sells industrial pumps and related plumbing equipment. You are the audit senior manager assigned to Tucker’s audit for the year ending December 31, 2019. During September 2019, as a part of your risk assessmentprocedures, you identified the following information related to Tucker’s business. ...

Course Code   :  BS01

Course Title   :  cyber security

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Initial Work-In-Progress ReportYou are one of the postgraduate trainees newly employed in IT security auditing at CyberSAFE Auditors. A new client, English & American plc based in the Lloyds of London insurance market in the city of London, has requested a partial ISO27002 compliance audit to be undertaken by CyberSAFE. Before giving CyberSAFE the  contract the CEO of English & American has asked for an Audit Plan detailing the me...

TaskThis assignment provides you with an opportunity to demonstrate the achievement of the following course learning outcomes: Implement audit plan strategies by evaluating sample programs for specific accounting cycles, and Demonstrate the use and impact of data analytics and current technological advances in auditing, as well as the impact the use of technology by businesses has in providing assurance.  You are expected ...

Course Code   :  ACCT609

Course Title   :  Auditing and Assurance I

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The CaseIn October 2018 the Cannabis Act was adopted in Canada and regulated by Health Canada, an oversight and regulatory body, under the authority of the Cannabis Regulations (CR). The legislation permits individuals over the age of 18 to purchase, possess, and cultivate limited amounts of cannabis. Andy’s Medicinal Chemicals and Botanicals (Andy’s), one of the initial licensed dealers of cannabis in Canada, supplies high-qualit...

Course Code   :  AC3093

Course Title   :  Auditing and Assurance

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The Role of Auditing and its AgentsIn a recent round table discussion amongst undergraduate travel and tourism management students, one commented as follows: The UK auditing profession is failing in its role, and I'm disappointed that the UK government has not done anything to help maintain confidence in the external audit function. Apparently, a company's directors and auditors both act as agents when they carry out their respective roles!...

Course Code   :  AC3093

Course Title   :  Auditing and Assurance

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To be successful in Assurance, you need to be curious. It’s important to understand exactly what your client does and how they have accounted for business activities, as this may affect the work performed and the conclusions reached. Please imagine you’re working on the audit of a FTSE 100 client. You’re responsible for checking that payments to the company’s suppliers have been correctly accounted for. You’re ha...

Course Code   :  ACCTG312

Course Title   :  Auditing

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Situation (a): Valuing Inventory at Net Realisable ValueQuestion 2: Audit Procedures (suggested word count: 500 words) Consider these independent inventory situations, then answer the questions that follow. (a) ABC company sells high fashion garments and the accountant of the company advises you that all inventory has been valued at net realisable value. (b) A jewellery manufacturing company manufactures necklaces, earrings and rings for ...

Business Activities and Regulatory Issuesa. What are the business activities of Briscoe Group Ltd, and primary regulatory issues in regards to preparation of financial statements that you will need to understand to carry out a successful audit?  Using information you obtained about Briscoe Group Ltd, and the industry they are in, come to an informed view as to the ‘business’ and ‘industry’ risk for this prospect...

Course Code   :  HA3032

Course Title   :  auditing

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Question 1 (7 marks)You have reviewed the work performed by your assistant, Raymond Snow, on the audit of Tin Ltd for the year ended 30 June 20X8 and you have noted the following two independent matters: (i)  In testing investments in listed securities, Raymond selected all shareholdings with a market value above $200,000 and checked them to the closing market value reported by the Australian Stock Exchange (ASX) to determine the net reali...

Westinghome LtdWestinghome Ltd is a large listed company which specialises in the manufacture of whitegoods and other electrical appliances. It is late April 2021 and you are currently planning the 30 June 2021 audit_ The auditor's report is due to be signed on 20 July 2021. During your planning, the following independent and material situations come to your attention. 1.On 1 January 2021. Westinghome signed a 3-year contract with KP Pty Ltd ...

Course Code   :  ACCFIN5055

Course Title   :  audit risk and control

Ref style  :  Open

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Statutory Duties of RBK as External Auditor of Four ChimpsThe following scenario relates to questions 1 –5 You work for Reeve, Bigland and Khan (RBK) as an audit senior. RBK is a UK firm of a registered auditors regulated by the ACCA. One of RBK’s external audit clients is Four Chimps Café Ltd.(Four Chimps) which owns and operates a chain of 12 cafes and restaurants across the East Midlands o...

Course Code   :  AC3093

Course Title   :  audit assurance and compliance

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Identifying and Managing Audit RiskQuestion 1. Sovereign Pharmaceuticals Ltd (‘Sovereign Pharmaceuticals’) develops, manufactures and sells a range of pharmaceuticals and has a wide customer base across Europe and Asia. You are the audit manager of Majesty & Co and you are planning the audit of Sovereign Pharmaceuticals Ltd whose financial year end is 31 December 2020. You attended a planning meeting with the finance directo...

Investigating Scooter LtdQ1. You have recently been hired as the manager of the internal audit department of Vroom Vroom Inc.  Your first assignment is to investigate certain aspects of a recently acquired division called Scooter Ltd (“Scooter”).  Scooter is a Canadian company that is an importer of scooters and other low powered motorcycles.  Certain aspects of Scooter’s business have changed due to a...