Solved

To Do an Audit,it Is Necessary to Have Information in a Verifiable

Question 51

Essay
To do an audit,it is necessary to have information in a verifiable form and some criteria by which the auditor can evaluate the information.
Required:A)What information and criteria would a public accounting firm use when auditing a company's financial statements? B)What information and criteria would a Canada Revenue Agency auditor use when auditing that same company's tax return?C)What information and criteria would an internal auditor use when performing an operational audit to evaluate whether the company's computerized payroll processing system is operating efficiently and effectively?

To do an audit,it is necessary to have information in a verifiable form and some criteria by which the auditor can evaluate the information.
Required:A)What information and criteria would a public accounting firm use when auditing a company's financial statements? B)What information and criteria would a Canada Revenue Agency auditor use when auditing that same company's tax return?C)What information and criteria would an internal auditor use when performing an operational audit to evaluate whether the company's computerized payroll processing system is operating efficiently and effectively?

Correct Answer:

verifed

Verified

A)The information used by a public accou...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents