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Darina [25.2K]
3 years ago
14

Auditing standards don't specifically discuss the audit procedures that should be applied to a client's pension-related financia

l statement amounts. Identify five audit procedures that would be relevant to those items. For each audit procedure that you list, identify the related audit objective.
Business
1 answer:
Irina-Kira [14]3 years ago
4 0

Answer:

Explanation:

(a). Audit Procedure (b) . Audit Objective

1.a Take note of trading/order paperwork with the pension (b). Existence of investment/accounts.

2a. Movement of funds within accounts. (b. Examine plan document for investment objectives

3a.make sure that investments agree with plan objectives and allowed risk level (b. Take note of current investment holdings

4a. Make sure that funds are held at updated market fair value(mark to market) (b. Take note of contracts, meeting minutes etc. Confirm that purchases/sales have been approved and falls into plan polices

5a. Extra examination of any significant plan holdings (b. Verify existence and appropriate value . This is important if the plan invest in non-public assets , example is assets are private, equity.

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Answer:

$470

Explanation:

The calculation of the economy income is given below:

Since $1,690 spend on goods and then he decided to purchase for $470 in order to generate it

So here we can see that there is one and only economic activity that took place at the present quarter that is of $470

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A company sells a car to a consumer and helps the consumer set up a loan with regular set payments. What type of credit is this?
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Complex projects such as research and development for new products often employ rolling wave planning to estimate costs. Which o
Aleks04 [339]

Answer:

A. Project managers render a definitive estimate for the first stage and an order of magnitude estimate for the remainder of the project.

Explanation:

Project managers should not lie to themselves or others regarding project costs. Fixed costs remain the same regardless of the size or volume of work, while variable costs vary directly with volume of use. The project scope does not come into play when considering fixed and variable cost choices.

To provide an up-to-date record of commitments and authorized within budgets so that unexpected over/under run costs do not result, ensuring that all transactions are properly recorded and authorised and, where appropriate, decisions are justified.

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An approach that addresses the underlying inconsistencies in the way people use data by attempting to achieve consistent and uni
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Answer:

Master Data Management (MDM)

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If overhead applied is less than actual overhead incurred, it is:<br> Fully applied
djverab [1.8K]

Answer:

under applied overhead

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