Auditing

away Auditing AC555
Week 3 HW

CHAPTER 6

6-19:a. (2.)b. (2.)c. (1.)

6-20:a. (1.)b. (2.)c. (1.)

6-27: a.Management assertions ar implied representations by worry about the classes of transactions and related accounts in the financial statements. There argon five broad categories of assertions. These assertions are the like for every transaction calendar method and account. General transaction-related visit objectives are essentially the same as management assertions except they are expanded somewhat to help the auditor decide which audit shew is necessary to satisfy the management assertions. Accuracy, classification, timing, and posting and summarization are a subset of the valuation or allocation assertion. particularized transaction-related audit objectives are determined by the auditor for for each one general transaction-related audit objective. These are performed for each transaction cycle to help the auditor determine the specific amount of evidence needed to satisfy the general transaction-related audit objectives for that cycle.
SPECIFIC TRANSACTION-RELATED analyze impersonal| b. MANAGEMENT ASSERTION| c. GENERAL TRANSACTION-RELATED AUDIT OBJECTIVE|
a. | 3.| 8.|
b.| 3.| 11.|
c.| 1.| 6.|
d.



| 3.| 9.|
e.| 2.| 7.|
f.| 3.| 10.|

CHAPTER 7
7-14:The decrease of the current ratio indicates a liquidity line for Harper Company. The auditor should determine that the 2.05 ratio is correct since management would be interested in hiding a rase ratio. The auditor should expand procedures to test all current assets for realistic overstatement and to test all current liabilities for proper understatement.
7-27:a. (2.)b. (1.)c. (4.)d. (4.)
7-28:a. (3.)b. (3.)c. (4.)d. (4.)
7-29:a.
1. External 7.Internal13.Internal...If you want to get a full essay, site it on our website: Orderessay



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