An auditor wishes to perform tests of controls on a clients cash disbursements

An auditor wishes to perform tests of controls on a

This preview shows page 6 - 8 out of 62 pages.

34. An auditor wishes to perform tests of controls on a client's cash disbursements procedures. If the control activities leave no audit trail of documentary evidence, the auditor most likely will test the activities by using A. Confirmation and observation.B. Observation and inquiry.C. Analytical procedures and confirmation.D. Inquiry and analytical procedures.35. To provide assurance that each voucher is submitted and paid only once, an auditor most likely would examine a sample of paid vouchers and determine whether each voucher is 36. In order for auditors to be able to recognize potential fraud, they must be aware of the basic characteristics of fraud. Which of the following is nota characteristic of fraud? 37. An auditor who discovers that client employees have committed an illegal act that has a material effect on the client's financial statements most likely would withdraw from the engagement if 38. An auditor would least likely initiate a discussion with a client's audit committee concerning A. The methods used to account for significant unusual transactions.B. The maximum dollar amount of misstatements that could exist without causing the financial statements to be materially misstated.C. Indications of fraud and illegal acts committed by a corporate officer that were discovered by the auditor.D. Disagreements with management as to accounting principles that were resolved during the current-year audit.
Background image
39. Which of the following statements is correct with respect to the elements of the fraud triangle?
Background image
Image of page 8

You've reached the end of your free preview.

Want to read all 62 pages?

  • Fall '13
  • Financial audit

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes