Unit 3 Project
4-56 The following table contains calculations of several key ratios for Indianola
Pharmaceutical Company, a maker of proprietary and prescription drugs. The company is
publicly held and is considered a s
Unit 4 Project
7-38: The following are examples of documents typically obtained by auditors.
For each example:
a. Classify the document as internal or external evidence.
b. Classify the document as to its relat
Unit 5 GEL Assignment-The Scientific Method
Part A: Asking questions to determine if fraud is actually taking place within the revenue
1. How does the client expect to make the 20% increase in sales and 27% in
Unit 5 Project
Kent, CPA, is the engagement partner on the financial statement audit of Super Computer
Services Co. (SCS) for the year ended April 30, 2009. On May 6, 2009, Smith, the senior auditor
assigned to the
Unit 6 Project
If this control is not implemented effectively,
what misstatement could happen?
1. Accounts Receivable may be overstated.
2. Sales could be misstated which in turn
would make Accounts Receivable inc
Unit 7 Project
1. The auditor can send positive confirmations to both of the banks to verify the balances, if
there are any discrepancies on the bank statements compared to the confirmations they
should be invest
Unit 8 Project-Audit Acquisitions, Related Entity Transactions, Long-Term Liabilities and Equity
14-39: It is common for an entity to have transactions with related entitiessome of which are
fully owned, some of which s
Unit 9 Project-Communicating Audit and Attestation Results
16-38: The fourth standard of reporting states: The auditor must either express an opinion
regarding the financial statements, taken as a whole, or state that a
120. Public accounting firms are sometimes grouped into categories of local firms, regional firms,
national firms, and international firms. Explain briefly the characteristics of each. Include in your answer
the types of services stressed in each group.