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3 years ago

The auditors' responsibility to communicate findings with respect to fraud can best be summarized as:

1 answer:

4 0

The auditors' responsibility to communicate findings with respect to fraud can best be summarized as: Communicate to the audit committee both material and immaterial amounts of fraud that are detected. This is further explained below.

<h3>What is auditors?</h3>

Generally, An auditor is a person qualified to examine financial documents, confirm their correctness, and make sure businesses are following tax regulations.

In conclusion, the Auditors' duty to report fraud-related discoveries is summed up as follows. Any identified fraud, no matter how little, should be reported to the audit committee.

You might be interested in

The partners share profits and losses in the ratio of 5:3:2, respectively. The partners agreed to dissolve the partnership after

vovangra [49]

Answer:

$30,000

Explanation:

The computation of the amount received by Janet is given below:

Loss on sale of other assets is

= $150,000 - $50,000

= $100,000

Share of Janet in loss is

= $100,000 × 5 ÷ 10

= $50,000

So,

Janet revised capital balance is

= $80,000 - $50,000

= $30,000

6 0

3 years ago

What are the four key assumptions examined in specification analysis in the case of simple regression? A. Four key assumptions

bearhunter [10]

Answer:

C. 1. Linearity of relationship between the dependent variable and the independent variable within the relevant range. 2. Constant variance of residuals for all values of the independent variable. 3. Independence of residuals. 4. Normal distribution of residuals.

Explanation:

The four keys assumptions that are examined in the case of simple regression with respect to the specification analysis is given below:

1. There should be relationship between the dependent and independent variable and that should be linear and do not cross the relevant range

2, The residual variances of the independent variable would remain the same

3. Residual independence

4. Residual normal distribution

These four should be considered

Hence, the option c is correct

4 0

3 years ago

Hercules movers pays a constant annual dividend of $1.75 per share on its stock. last year at this time, the market rate of retu

ipn [44]

Capital gain is computed in the formula below:

Capital gain= [(Current price-Original price)/ Original price ]x100
If stocks before
Original price =$1.75 x (1+14.8%)
= $2.009
Current price = $1.75 x(1+11.2%)
= $1.956

Capital gains yield = [($1.956-$2.009)/($2.009)]x100
= -0.264 x 100
= -26.4
Capital loss of 26.4% because the stock value decreased.

8 0

4 years ago

Mullineaux Corporation has a target capital structure of 46 percent common stock, 5 percent preferred stock, and the balance in

Gre4nikov [31]

Answer:

WACC = 9.18%

Explanation:

given data

common stock = 46 percent

preferred stock = 5 percent

cost of equity = 15.8 percent

cost of preferred stock = 8.3 percent

pre-tax cost of debt = 6.8 percent

tax rate = 23 percent

solution

first we get here after tax cost of debt that is express as

after tax cost of debt = pretax cost of debt × (1 - relevant tax rate) ...........1

put here value and we get

after tax cost of debt = 6.8% × (1 - 0.23)

after tax cost of debt = 0.05236

after tax cost of debt = 5.24 %

and

now for WACC

WACC = respective weight × respective cost

WACC = ( common stock × cost of equity ) + ( preferred stock × pre tax) + (weight of debt × After tax cost of debt) .....................2

we take here weight of debt is 30 percent

so put here value

WACC = 46% × 15.8% + 5% × 6.8% + 30% × 5.24 %

WACC = 0.0918

WACC = 9.18%

3 0

3 years ago

Where can you get a job in welding and what are the basic requirements?

Irina-Kira [14]

Welders require little formal education.

A welder fuses metal components to form a final product that meets a client's request. They need physical strength and proper skills to manage hazardous and heavy welding equipment. Welders are employed in a myriad of industries, including construction, steel, aerospace, and motor vehicles, each of which may depend on their level of expertise.

Hope this helps!

6 0

3 years ago