I would like the textbook solution to Auditing & Assurance Services 10th edition Chapter 21 problem...

I would like the textbook solution to Auditing & Assurance Services 10th edition Chapter 21 problem 32P please.

There isn't an answer in the textbook solutions. This question has remained unanswered.

Solutions

Expert Solution

The deficiencies in Currie’s draft report are:

1.The report does not contain the heading "Independent Accountant's Report."

2.The report is not dated.

First paragraph:

1.Management is responsible for the projection.

2. Identify the purpose for which the examination was prepared.

3.Auditor’s responsibility is to express an opinion on the projection based on an examination.

4.Should not state that the examination was made in accordance with AICPA standards.

Second paragraph:

1.The examination was conducted in accordance with "attestation standards established by the AICPA" and that it “included suchprocedures as we considered necessary to evaluate both the assumptions used by management and the preparation and presentation of the projection.”

Third paragraph :

1.Should not contain the opinion.

2. Should state the practitioner’s belief that the examination provides a reasonable basis for his opinion.

Please UPVOTE, if you are satisfied with the answer :)

ekkarill92 answered 1 year ago

Next > < Previous

Related Solutions

I am reviewing the International Economics textbook (10th edition), Chapter 14, Question 6. The question asks:...

I am reviewing the International Economics textbook (10th edition), Chapter 14, Question 6. The question asks: Part A: A 10,000 GBP deposit in a London bank in a year has an interest rate in pounds of 10%. The USD/GBP exchange rate moves from $1.50 per pound to $1.38 per pound. What is the dollar rate of return on this asset? This part I understood and I calculated as: Year 0 = 10,000 GBP * 1.50 exchange rate = 15,000 USD...

CASE 1 CHAPTER 1 Internal Auditing Assurance and Advisory Services Third Edition 1. How do internal...

CASE 1 CHAPTER 1 Internal Auditing Assurance and Advisory Services Third Edition 1. How do internal and external auditors differ and how should they relate? 2. How does internal audit maintain its independence and objectivity? 3. Is it mandatory to have an internal audit activity? 4. What are the critical skills and attributes of a CAE? 5. What are the skill sets and staffing needs of an internal audit activity? 6. What is internal audit’s role in preventing, detecting, and...

Auditing and Assurance Services: An Integrated Approach, Ch. 19 In this chapter, focus on auditing procedures,...

Auditing and Assurance Services: An Integrated Approach, Ch. 19 In this chapter, focus on auditing procedures, including the following: -specific tests for Property, Plants, and Equipment -Accrued Liabilities -Income and Expense accounts

Auditing and Assurance Services: An Integrated Approach, Ch. 24 In this chapter, focus on the following...

Auditing and Assurance Services: An Integrated Approach, Ch. 24 In this chapter, focus on the following explaing the following Presentation and Disclosures Contingent Liabilities Subsequent events

Auditing and Assurance Services: An Integrated Approach, Ch. 18 In this chapter, focus on the following:...

Auditing and Assurance Services: An Integrated Approach, Ch. 18 In this chapter, focus on the following: -analytical procedures -tests of controls -transactions and account balances

I am working on Microeconomics 10th edition. There is no solution for the question below, can...

I am working on Microeconomics 10th edition. There is no solution for the question below, can someone help me get the solutions? In the 1990s Mattel proposed acquiring Fisher-Price for $1.2 billion. At the time, Mattel was a major player in the toy industry with 11 percent of the market. Fisher-Price had 4 percent. The other two large firms were Tyco, with a 5 percent share, and Hasbro, with a 15 percent share. In the infant/preschool toy market, Mattel had...

Opearting System 10th edition problem 5.15

Consider the Exponential average formula used to predict the length of next CPU burst. What are implications of assigning following values to the parameters used by algorithm (A) alpha = 0 , to = 100ms (B) alpha = 0.99 and to = 10ms

Use the Fourier-Motzkin Elimination method to solve problem 4.1-5 from the textbook (10th edition). Maximize Z=x1...

Use the Fourier-Motzkin Elimination method to solve problem 4.1-5 from the textbook (10th edition). Maximize Z=x1 + 2x2, subject to x1 + 3x2 <=8 x1 + x2 <=4 and x1 >=0, x2>=0.

In textbook Engineering and Chemical Thermodynamics (2nd Edition), chapter 7 problem 33 7.33 A mixture of...

In textbook Engineering and Chemical Thermodynamics (2nd Edition), chapter 7 problem 33 7.33 A mixture of 2 moles propane (1), 3 moles butane (2), and 5 moles pentane (3) is contained at 30 bar and 200°C. The van der Waals constants for these species are: Species a3Jm3mol22 4 b3m3/mol4 Propane 0.94 9.06 3 1025 Butane 1.45 1.22 3 1024 Pentane 1.91 1.45 3 1024 Determine the fugacity and fugacity coeffi cient of propane using the following approximations: (a) the Lewis...

Is there a solution for this anywhere? Chapter 9, Problem 16P, 5th edition, Matlab for engineers

Subjects