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One account receivable in the accounts receivable master file is included on the aged trial balance twice.
For those procedures you identified as a test of control or substantive test of transactions, what transaction-related audit objective or objectives .
Identify and describe the two forms of accounts receivable confirmation requests and indicate what factors Dodge will consider in determining when to use each.
How might they verify the email addresses or the reliability of the electronic records?
Indicate which of these confirmation responses likely represent timing differences.
Send a confirmation to the bank confirming amounts pledged as collateral under loan agreements.
Identify the major factors affecting client business risk and acceptable audit risk for this audit.
What does the SEC indicate are the four basic criteria for determining whether revenue is realized or realizable?
Explain what is meant by basic precision. How is it determined?
Distinguish between the point estimate of the total misstatements and the true value of the misstatements in the population.
Calculate the point estimate of the misstatements and evaluate whether the amount is material.
Define what is meant by sampling risk. Does sampling risk apply to nonstatistical sampling, MUS, attributes sampling, and variables sampling?
Explain what is meant by acceptable risk of incorrect acceptance. What are the major audit factors affecting ARIA?
Distinguish between a sampling error and a nonsampling error. How can each be reduced?
Define each of the following terms, Acceptable risk of overreliance, Computed upper exception rate.
Explain why the sampling unit for verifying the occurrence of recorded sales differs from the sampling unit for testing for the possibility of omitted sales.
Explain the difference between an attribute and an exception condition. State the exception condition for the audit procedure.
What is "suspicious transaction monitoring," and how effective is it at detecting fraud?
Identify risks for accounting systems that rely heavily on IT functions.
Identify the traditionally segregated duties in noncomplex IT systems and explain how increases in the complexity of the IT function affect that separation.
Explain what is meant by auditing around the computer, and describe what must be present for this approach to be effective in the audit of a client.
Explain what is meant by the test data approach. What are the major difficulties with using this approach?
Compare the risks associated with network systems to those associated with centralized IT functions.
Identify three risks related to an online sales system that management should consider.
A former computer operator, who is now a programmer, entered information for a fictitious sales return and ran it through the computer system at night.