Question four average 52%
External critics (judges and peer reviewers) have few grounds for criticizing auditors who
fall victim to sampling risk. Auditors are more open to criticism and fault finding when
erroneous audit decisions result from non-samplin
00:00:00,729 -> 00:00:02,476
00:00:10,569 -> 00:00:12,861
00:00:12,944 -> 00:00:14,262
00:00:14,297 -> 00:00:15,516
What the hell happened?
00:00:15,551 -> 00:00:16,816
I didn't do it. I was in the basement,
00:00:16,885 -> 00:00
Question 1 40% average 81%
In the audit of Whirland Chemical Company, a large publicly traded company, you have
been assigned the responsibility for obtaining background information for the audit.
Your firm is auditing the client for the first time in the
Question Three (24% 8 marks for each procedure) average 75.5:
Western Canada Meat Processors buys livestock at auction, processes it, and sells it to
supermarkets. Following is a description of their procedures:
1. Each livestock buyer submits a daily rep
Question 1 (35%)
Jack Black, CA, has been the partner in charge of the audit of Ace Manufacturing Company for 13
years. Ace has had excellent growth and profits in the past decade, primarily as a result of the Aces
leadership headed up by Peter
Question 2 (20%)
Ma & Mann CAs, are the auditors of Lambs Toy Store (LTS), a local retail operation.
You are in charge of the audit for the fiscal year ended February 28, 2008. In January
2008 you complete the inventory count and internal control testing.
Question 2 (35 marks)
In 1890, the Brooklyn Trolley Dodgers professional baseball team joined the National League. Over
the following years, the Dodgers would have considerable difficulty competing with the other baseball
teams in the New York City area.
Question 3 (30%):
Sunrise Solar Inc. (SS) is a medium-sized company that is developing solar energy systems for private
residences and small business. It is privately owned, with the majority of the shares held by the
companys president, Shu Mingfei. Star
4.20 a. Assessing management integrity should be considered before accepting the audit
engagement. Some considerations are:
check references from other professionals
does the client deal ethically with outside parties
If during the assessment of manage