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2 years ago

What objectives of internal controls are of primary interest to an auditor performing a financial statement audit?

1 answer:

8 0

objectives of controls are of primary interest to an auditor performing a financial statement audit--- Accurate and reliable financial reporting.

What are the primary objectives of internal control?

The primary purpose of internal controls is to help safeguard an organization and further its objectives. Internal controls function to minimize risks and protect assets, ensure accuracy of records, promote operational efficiency, and encourage adherence to policies, rules, regulations, and laws.

What are the 5 internal controls in auditing?

There are five interrelated components of an internal control framework: control environment, risk assessment, control activities, information and communication, and monitoring.

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robert, age 70, and his wife, diane, age 64, have been married 42 years. they have two sons and five grandchildren. if robert di

musickatia [10]

Diane's nice choice for his Ira is Roll over his IRA to her IRA and take distributions starting at her age 70½.

The required details for An individual retirement account (IRA) in given paragraph

An man or woman retirement account (IRA) is a long-time period financial savings account that people with earned earnings can use to store for the destiny and experience sure tax advantages. The IRA is designed typically for self-hired individuals who do now no longer have get admission to to place of business retirement debts consisting of a 401(k), that's to be had most effective thru employers. You can open an IRA thru a bank, an funding company, an internet brokerage, or a private broker. Anyone with earned earnings can open and make a contribution to an IRA, inclusive of the ones who've a 401(k) account thru an employer.

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6 0

2 years ago

The process of writing off an intangible asset is

Margarita [4]

Heyyyy inbox i Will help

7 0

3 years ago

Benchmarking involves:

creativ13 [48]

Answer:

1. comparing how different companies perform various value chain activities and then making cross-company comparisons of the costs and effectiveness of these activities.

Explanation:

Benchmarking -

It is the method of comparing the business performance and the process like the cost , time and quality .

Benchmarking is also known as process benchmarking , or , best practice benchmarking .

It is the comparison among various companies , that how the company performs various value chain activities .

Hence , from the question , the correct statement for the given term is ( 1. ) .

5 0

3 years ago

Crow manufacturers, inc. projected sales of 52,149 bicycles for 2012. the estimated january 1, 2012, inventory is 5,002 units, a

alexdok [17]

The projected sales ar 52,149 units of bikes for 2012. On hand at Jan 1, 2012 are 5002 units. So 52,149-5002= 47137+6831= 53,978 bikes to make in 2012 in other words, the net production to make the 52149 is 47137 plus the desired inventory at the end of 2012 totals the 53,978.

7 0

3 years ago

Read 2 more answers

On January 1, 2021, Kat Corp. granted an employee an option to purchase 60,000 shares of Kat's $5 par common stock at $20 per sh

Andreyy89

Answer:

b. $ 240,000

Explanation:

Calculation for what Kat should recognize as compensation expenses

Using this formula

Compensation expenses= (Purchase shares ×Value of options)/ Years of Service

Let plug in the formula

Compensation expenses=(60,000 shares

x $8 per option) / 2 years of service

Compensation expenses=480,00/2 years of service

Compensation expenses= = 240,000

Therefore what Kat should recognize as compensation expenses is 240,000

4 0

3 years ago