Auditing and Assurance Services (16th Edition)
16th Edition
ISBN: 9780134065823
Author: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Chris E. Hogan
Publisher: PEARSON
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Chapter 1, Problem 9RQ
To determine
Provide five examples of the specific operational audit that can be conducted by internal auditor in the manufacturing company.
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Q2. What is operational audit? List five examples of specific
operational audits that could be conducted by an internal auditor
in a manufacturing company?
Explain four (4) examples of specific operational audits that could be conducted by an internal auditor ina manufacturing company.
Describe FOUR internal control procedures an auditor would expect the company to put in place in respect of inventories
Chapter 1 Solutions
Auditing and Assurance Services (16th Edition)
Ch. 1 - What are the information and established criteria...Ch. 1 - Prob. 2RQCh. 1 - Discuss changes in accounting and business...Ch. 1 - Prob. 4RQCh. 1 - Identify the three main ways information risk can...Ch. 1 - Prob. 6RQCh. 1 - Prob. 7RQCh. 1 - Prob. 8RQCh. 1 - Prob. 9RQCh. 1 - Prob. 10RQ
Ch. 1 - Prob. 11RQCh. 1 - Prob. 12.1MCQCh. 1 - Prob. 12.2MCQCh. 1 - Prob. 12.3MCQCh. 1 - Prob. 13.1MCQCh. 1 - Prob. 13.2MCQCh. 1 - Prob. 13.3MCQCh. 1 - Prob. 14.1MCQCh. 1 - Prob. 14.2MCQCh. 1 - Prob. 14.3MCQCh. 1 - Prob. 15DQPCh. 1 - Busch Corporation has an existing loan in the...Ch. 1 - Prob. 17DQPCh. 1 - James Burrow is the loan officer for the National...Ch. 1 - Prob. 19DQPCh. 1 - Prob. 20DQPCh. 1 - Prob. 21DQPCh. 1 - Prob. 22DQPCh. 1 - As discussed in the chapter opening vignette and...Ch. 1 - Prob. 24DQP
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- Explain four (4) examples of specific operational audits that could be conducted by an internal auditor in a manufacturing company.arrow_forwardWith the aid of visual diagrams, describe in detail the audit trail for the following in a manufacturing business: Shipping an order to a customerarrow_forwardAn examination of part of an organization's procedures and methods for the purpose of evaluating efficiency and effectiveness is what type of audit Select one: a. compliance audit b. operational audit c. financial statement audit d. production auditarrow_forward
- Describe the key components of a quality control system within an accounting firm or department.arrow_forwardIdentify five general ledger accounts that are likely to be affectedby the payroll and personnel cycle in most auditsarrow_forward1. Job specification of external auditor 2. Qualification of external auditor 3. Major quality of external auditarrow_forward
- The purpose of an audit trail is to be able to trace a transaction from its origin through source documents to the final output or backwards from the final output to the original source documents to prove the accuracy and validity of ledger postings. Describe in detail the audit trail for the following in a manufacturing business: With the aid of visual diagrams, describe in detail the audit trail for the following in a manufacturing business: Shipping an order to a customerarrow_forwardThe purpose of an audit trail is to be able to trace a transaction from its origin through source documents to the final output or backwards from the final output to the original source documents to prove the accuracy and validity of ledger postings. Describe in detail the audit trail for the following in a manufacturing business: With the aid of visual diagrams, describe in detail the audit trail for the following in a manufacturing business: b. Customer returns defective goodsarrow_forward1. When auditing a manufacturing concern, what major inquiries might be made by the auditor about the cost accounting system? 2. In the audit of inventory the auditor must perform important procedures prior to the actual observation. Identify the steps the auditor must take prior to the day the inventory is actually counted.arrow_forward
- Which of the following type of auditors reviews the routine activities and provide suggestion for the improvement in the functioning of the organization System Auditor External Auditor Cost Auditor Internal Auditorarrow_forwardExplain ANY FIVE (5) substantive procedures that an auditor should use in verifying the revaluation of plant, property and equipment in a particular company.arrow_forwardExplain 5 audit procedures in obtaining evidence to test the management assertion for inventories of a company.arrow_forward
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