L10 Notes_Part_12 - Kim Bryan, an new staff auditor, is...

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Kim Bryan, an new staff auditor, is confused by the inconsistency of the three audit partners she has been assigned to on her first three audit engagements. On the first engagement, she spent a considerable amount of time in the audit of cash disbursements by examining cancelled checks and supporting documentation, but almost no testing was spent in the verification of fixed assets. On the second engagement, a different partner had her do less intensive tests in the cash disbursements area and take smaller sample sizes than in the first audit, even though the company was much larger. On her most recent engagement under a third audit partner, there was a thorough test of cash disbursement transactions, far beyond that of the other two audits, and an extensive verification of fixed assets. In fact, this partner insisted on a complete physical examination of all fixed assets recorded on the books. The total audit time on the most recent audit was longer than that on either of the first two audits despite the smaller size of the company. Bryan’s conclusion is that the amount of evidence to accumulate depends on
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This note was uploaded on 10/05/2011 for the course ACG 5637 taught by Professor Monikacaushoulli during the Fall '08 term at University of Florida.

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L10 Notes_Part_12 - Kim Bryan, an new staff auditor, is...

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