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Exam 2 Review Outlin - Agenda Announcements(5m Midterm Exam...

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Agenda Announcements (5m) Midterm Exam Review (15m) Grouptalk: Loblaws (45m) Jon’s Loblaw Summary (15m)
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Midterm Exam #2 Review Session Jonathan Grenier ACCY 453 Spring 2011
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11/14/11 SSA / Triangulation in Action (Peecher et al. Example) Consider a hypothetical company that harvests, treats, and bottles natural spring water. The company is in growth mode and, unfortunately, has not had the time to sufficiently train the new employees to test for impurities such as Pechlorate. How would this process risk affect the auditing of accounts receivable and inventory? Would an auditor using a non-SSA approach identified this risk? How reliable are the following forms of EBS evidence: A/R confirmations received directly from customers? Hint: Assume the customers don’t know the water is tainted. Auditor inspection of cases of bottle water in the company’s warehouse?
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Exam Format 14 Multiple Choice Questions 1 Audit Risk Model Problem 10 Short Answer Questions
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Exam Coverage
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