Auditing

For the control activities to be effective, employees maintaining the accounts receivable subsidiary ledger should not also approve:

Which of the following controls is most likely to help ensure that all credit revenue transactions of an entity are recorded?

Which of the following internal controls would be most likely to deter the lapping of collections from customers?

Smith Corporation has numerous customers. Acustomer file is maintained and includes a customer record with a name, an address, a credit limit, and an account balance. The auditor wishes to test this file to determine whether credit limits are being exceeded. The best procedure for the auditor to follow would be to:

Cash receipts from sales on account have been misappropriated. Which of the following acts would conceal this defalcation and be least likely to be detected by an auditor?

If accounts receivable turnover (credit sales/ receivables) was 7.1 times in 2013 compared to only 5.6 time in 2014, it is possible that there are:

If the number of days' sales in accounts receivable (365 days/ receivables turnover) decreases' significantly, which of the following assertions for accounts receivable most likely is violated?

Which of the following is most likely to be detected by an auditor's review of an entity's sales cutoff?

Negative confirmation of accounts receivable is less effective than positive confirmation of accounts receivable because

The negative request form of accounts receivable confirmation is useful particularly when Assessed level of control risk relating to receivables The number of small balances is Consideration by the recipient is

An auditor should perform alternative procedures to substantiate the existence of accounts receivable when

In evaluating the adequacy of the allowance for doubtful accounts, an auditor most likely reviews the entity's aging of receivables to support management's financial statement assertion of

the tick mark (diamond) most likely indicates that the amount was traced to the:

The tick mark (triangle) most likely indicates that the amount was traced to the

An auditor ordinarily sends a standard confirmation request to all banks with which the entity has done business during the year under audit, regardless of the year-end balance. One purpose of the procedure is to

The primary evidence regarding year-end bank balances is documented in the

On receiving the cutoff bank statement, the auditor should vouch

Which of the following controls would most effectively ensure that the proper custody of assets in the investing process is maintained?

An auditor testing long-term investments would ordinarily use substantive analytical procedures to ascertain the reasonableness of the:

To establish the existence and rights of a long-term investment in the common stock of a publicly traded company, an auditor ordinarily performs a security count or:

Which of the following is likely to be the most effective audit procedure for verifying dividends earned on investments in publicly traded equity securities

An auditor would most likely verify the interest earned on bond investments by

The audit firm's valuation specialist would likely be brought in to assist in the audit of fair value measurements at an entity when the following is present:

An auditor would be most likely to identify a contingent liability by obtaining a(n):

An auditor should request that an audited entity send a letter of inquiry to those attorneys who have been consulted concerning litigation, claims, or assessments. The primary reason for this request is to provide:

An auditor issued an audit report that was dual dated for a subsequent even occurring after the date on which the auditor has obtained sufficient appropriate audit evidence but before issuance of the financial statements. The auditor's responsibility for events occurring subsequent to the date on which the auditor has obtained sufficient appropriate evidence was

Which of the following procedures would an auditor most likely perform to obtain evidence about the occurrence of any changes in internal control that might affect financial reporting between the end of the reporting period and the date of the auditor's report?

Final analytical procedures are generally intended to:

Which of the following audit procedures is most likely to assist an auditor in identifying conditions and events that may indicate substantial doubt about an entity's ability to continue as a going concern?

Auditing standards primarily encourage which of the following conversations about financial reporting?

Which of the following events occuring after the issuance of a set of financial statements and the accompanying auditor's report would be most likely to cause the auditor to make further inquires about the financial statments