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Darina [25.2K]
4 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]4 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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3. You own a portfolio that has $4,740 invested in Stock A and $3,260 invested in Stock B. If the expected returns on these stoc
Alina [70]

Answer:

Portfolio expected return = 0.092225  or  9.2225%

Explanation:

The expected portfolio return is a function of the weighted average of the individual stocks' returns that form up the portfolio. The expected return on the portfolio containing two stocks can be calculated as follows,

Portfolio Expected Return = wA * rA  + wB * rB

Where,

  • w represents the weight of stocks
  • r represents the return from each stock

To calculate the weight of each stock in the portfolio, we first need to calculate the total investment in the portfolio.

Total Investment = 4740 + 3260 = 8000

Portfolio expected return = 4740/8000  *  8%  +  3260/8000  *  11%

Portfolio expected return = 0.092225  or  9.2225%

6 0
3 years ago
Which corporate officer, when he or she is guilty of serious misconduct, can subject the firm to the heavy losses in financial w
Norma-Jean [14]

Answer: The correct answer is "CFO".

Explanation: A CFO (Chief Financial Officer) is responsible for the economic and financial planning of the company. It is who decides the investment, financing and risk in order to increase the value of the company for its owners (whether shareholders or partners). It provides financial, accounting knowledge and in general an analytical look at the business. In many cases he is also the strategic affairs advisor for the CEO.

Therefore, if he is guilty of serious misconduct, he may subject the company to large losses in financial wealth.

7 0
3 years ago
Which of the following accurately describes the difference between a change in supply and a change in quantity supplied? a. ​ A
Sedaia [141]

Answer:

Option A

Explanation:

First let's make see the what is the difference (they are not the same thing.) And then lets analize which statement is the most accurate.

A change in supply and a change in quantity supplied are different things.   The change in supply is caused by changes in costs and incentives that change how much a producer can and will produce at a given price.

The change in quantiy supplied is caused simply by a change in the retail price of the product.

The change in <em>quantity supplied is shown as a movement along the curve</em>. While the change in <em>supply is shown graphically as a movement of the supply curve.</em>  

As we can see, that means that A is the correct answer.

5 0
3 years ago
Which of the following are ways in which to calculate the benefit of selecting one alternative over another? An analysis that lo
Pepsi [2]

Answer:

Which of the following are ways in which to calculate the benefit of selecting one alternative over another?

-An analysis that just looks at the relevant costs/benefits  and identifies those that are differential

-the difference between the net operating income for the two alternatives

-an analysis that looks at all costs and benefits and identifies those that are differential

Explanation:

The beginning of wisdom in using accounting for decision-making is a clear understanding that the relevant costs and revenues are those which as between the alternatives being considered are expected to be different in the future.

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Which part of the product life cycle typically includes consumer tests and a
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Answer: Introduction Stage

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