Trending Audit Management Discussions

What are the auditor's responsibilities relating to fraud in an audit of financial statements?‎

Prime cost and conversion cost share what common element of total cost?‎

a) fixed overheads b) variable overheads c) direct material d) direct labor‎

Which of the following may be assessed in non quantitative terms?‎

1) Inherent Risk 2) Residual Risk 3) Control Risk 4) Detection Risk‎

What are the factors and basis on which the internal auditor builds a risk-based assessment of a company that does not have a strategic plan? ‎

It is essential that the risk-based audit plan be built according to the strategic objectives of the company. However, in the absence of strategic objectives, how will it‎ ... See More

Select one of the options listed below which is not a benefit of budgeting:‎

A) Management can plan ahead B) An early warning system is provided for potential problems C) The coordination of activities is facilitated D) It reduces the need for ‎ ... See More

Which of the following best describes the activities of the production function?‎

A)  Maintenance, inventory control and production planning B) Quality control, production planning, manufacturing and payroll C) Production planning, manufacturing and ‎ ... See More

Can anyone define "anomaly"? ‎

Trade discount allowed at the time of Sale of goods is: ‎

A), recorded in Cash Book B). recorded in Sales Book C). not recorded in books of accounts D). recorded in Journal  ‎

What is the difference between security survey and security audit?‎

The common stock of a company must provide a higher expected return than the debt of the same company because?‎

  there is less demand for stock than for bonds.   there is greater demand for stock than for bonds.   there is more systematic risk involved for the common stock. ‎ ... See More