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wlad13 [49]
2 years ago
7

When conducting an independent audit the accountant is to evaluate a company's financial statements and?

Business
1 answer:
Dmitry_Shevchenko [17]2 years ago
3 0

A financial statement audit is the examination of an entity's financial information and accompanying exposures by a liberated auditor.

<h3>What is the main objective of the audit of financial statements?</h3>

The purpose of an audit of financial statements is to enable the auditor to communicate an opinion on whether the financial statements are prepared, in all material respects, by an applicable monetary reporting framework.

External auditors are accountable for auditing the company's financial statements and delivering reasonable assurance that they are presented fairly and following GAAP and that they recollect a true representation of the company's financial position and end of operations.

To learn about financial statements visit the link

brainly.com/question/14951563

#SPJ4

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Sarbanes-Oxley does not require:
Novosadov [1.4K]

Answer:

B) companies to turn over responsibility for establishing and maintaining internal controls for financial reporting to auditors.

Explanation:

Sarbanes- Oxley is popularly called SOX and  which is also know as the ''Public Accounting Reform and Investor Protection Act'' in the United States' Senate and ''Corporate and Auditing Accountability, Responsibility and Transparency Act'' is a USA federal law the sets out new regulations for all U.S public company boards, management and public accounting firms. Some part of the Act makes provisions that apply to privately owned companies.

The Sarbanes-Oxley is named after the bill sponsors that is Senator Sarbanes and a U.S Representative known as Micheal G. Oxley and this bill makes sure that the top management of a company must each individually determine and certify the accuracy of all financial information provided or stated. This bill was enacted in 2002 to curb a number of major corporate accounting scandals, especially those affecting big accounting firms like ;  Enron, Tyco International, Adelphia, Peregrine Systems, and WorldCom that cost investors to loose a lot of money when the their shares collapsed.

As a guiding principal companies and organizations are supposed to adhere to the options mentioned above except for option B which states:  companies to turn over responsibility for establishing and maintaining internal controls for financial reporting to auditors.

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3 years ago
1. Production in insurance refers to the policies they produce: * True or False?
frosja888 [35]

Answer:

false

Explanation:

8 0
2 years ago
If the buyer also paid a 3% real estate agent commission, what was the total amount paid at closing? a. $2,499 b. $5,550 c. $6,4
nika2105 [10]

Based on the various costs paid at closing, the total amount that was paid was <u>d. $7,499.</u>

<h3>Commission paid to agent</h3>

= Cost of house x Commission

= 3% x 180,000

= $5,550

<h3>Total amount paid at closing</h3>

= Commission + Loan origination + Title insurance +Attorney fees + Appraisal cost + Recording fees

= 5,550 + 275 + 528 + 750 + 275 + 121

= $7,499

In conclusion, the total paid at closing is $7,499.

Find out more on closing costs at brainly.com/question/26133271.

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3 years ago
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Joan purchased a condominium. When she bought it, she realized the homeowner's association had a variety of rules and regulation
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Answer:

Constitutional protection and guarantees do not necessarily extend to private property, an generally they don't. Constitutional protections and guarantees cover any government action (at any level): But since the condominium is private property, then the homeowner association's action is not covered. It is most likely that Joan will be forced to leave the condominium.

Explanation:

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