Auditing Week 7 Hw Solutions

Week 7 HW Solutions 3-23a.(2)b.(3)c.(3) 3-24a.(3)b.(4)c.(1) 3-25a.(2)b.(3)c.(3) 3-27a.Items that subscribe not be accommodate in the examineors floor ar: 1. That Optima is presenting comparative financial arguings. (Both years line of reasonings conquer for be referred to in the audited account invoice.) 2. Specific description of the bound in method of accounting for long-term construction contracts rent not be included in the report since it is discussed in the footnotes. But, the auditors report must state that there is a pass on in accounting principles and refer to the footnote. 3. The fact that normal due confirmation procedures were not used should not be allow on since the auditor was able to satisfy him or herself by means of chute audit procedures. 4. The lawsuit need not be discussed in the report since it has been included in a footnote. b.The following deficiencies are in Allisons report: 1. The audit report is neither turn to nor dated and it does not contain a title. The audit report date should be the last day of domain of a function work. 2. The residuum sheet is as of a specific date, whereas the income statement and the statement of retained earnings are for a stop consonant of time.

The image carve up should identify the period of time (usually ace year). 3. thither are comparative statements, but the audit report identifies and deals with solo the current years financial statements. An opinion must to a fault be included for the prior period financial statements. 4. at that place is no separate introductory paragraph that ! states the financial statements audited, dates, and the responsibilities of management and the auditor. 5. There is no separate scope paragraph that describes what an audit is. deuce required sentences are completely omitted: An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the...If you want to explicate a full essay, order it on our website: BestEssayCheap.com

If you want to get a full essay, visit our page: cheap essay