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jolli1 [7]
4 years ago
6

Which of the following is a true statement about an auditor’s responsibility regarding consideration of fraud in a financial sta

tement audit?
A. The auditor should consider the client’s internal control and plan and perform the audit to provide absolute assurance of detecting all material mis-statements.
B.The auditor should assess the risk that errors may cause the financial statements to contain any mis-statements and determine whether the necessary controls are prescribed and are being followed satisfactorily.
C.The auditor should consider the types of mis-statements that could occur and perform tests on 100% of the information subject to misstatement.
D.The auditor should assess the risks of material mis-statement due to fraud.
Business
1 answer:
Olegator [25]4 years ago
6 0

Answer:

D. The auditor should assess the risks of material mis-statement due to fraud.

Explanation:

At the time of auditor visit in a company the financial statement represent that the company has done the fraud in this scenario, the auditor should analyze the material misstatement risk that is done for fraud

Therefore in the given case, the option D is correct as the auditor responsibility is that he or she should analyze the risk with respect to the false statements presented in the financial statement

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Christina purchased 200 shares of stock at a price of $62.30 a share and sold them for $70.25 a share. She also received $148 in
vivado [14]

Answer:

B) 9.75 percent

Explanation:

Christina's net gains with this operation was:

  • $148 in dividends
  • 200 shares x ($70.25 - $62.30) = 200 x $7.95 = $1,590

total gain = $148 + $1,590 = $1,738

Christina invested 200 x $62.30 = $12,460

her nominal rate of return = $1,738 / $12,460 = 13.95%

if the inflation rate was 4.2%, then her real rate of return = 13.95% - 4.2% = 9.75%

8 0
4 years ago
As an employee for a large shipping company, you are aggrieved by the current work conditions. Your direct supervisor has been m
Stella [2.4K]

Answer:

My methodology would be exceptionally straight forward while referencing all the issues which I and different workers are looking under that administrator. I would pinpoint each conceivable detail while referencing/labelling the administration. In spite of the fact that I would take care that I am not spreading any pessimism about the organization, as the issue is with the immediate chief and not the organization. I would likewise speak to my kindred associates who are experiencing the equivalent to spread this word through their online life accounts too. It will squeeze the administration to make proper move against the immediate director.

5 0
3 years ago
State and federal governments actively support education at the primary, secondary, and collegiate levels. But they mandate educ
saul85 [17]

Answer:

1. positive externalities

2. educational credit for the market failure

3. redistribution

4. failure to maximize the family utility

Explanation:

There are generally four rationales or logical thinking for the public provisions for education. They are the positive externalities, failure to maximize the family utility, educational credit for the market failure, redistribution.

Now each rationales provides reasons that educations is more likely to be underprovided without any intervention from the government. But many of them does not provide any reasons for the mandate of education.

Like suppose the government can support and solve any educational credit market failure by just offering some loan guarantees for the students while letting them chose to receive education or not.

Similarly government can also address positive externalities that are associated with productivity gains or just letting a person educated without any mandating it.

And finally, government redistributes the poor families through the progressive taxation or the offerings of free education without any mandating them.

8 0
3 years ago
Why cant i get answers for free
REY [17]

Answer:

Because nothing is free in this world.

Explanation:

3 0
4 years ago
Read 2 more answers
Jane Leeves declared voluntary Chapter 7 bankruptcy. The trustee included the following property in her bankruptcy estate: • Jan
iragen [17]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

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4 years ago
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