Billy’s Beats Inc. Essay Sample
Billy’s Beats Inc. Essay Sample

Billy’s Beats Inc. Essay Sample

Available Only on StudyHippo
  • Pages: 1 (128 words)
  • Published: August 25, 2018
  • Type: Essay
View Entire Sample
Text preview

The auditor must select suitable types and methods of testing to ensure the client's financial statements are fairly presented and the client has maintained effective internal control over financial reporting. The chosen procedures must be persuasive, appropriate, sufficient, relevant, and reliable. Additionally, the auditing team inquired about the economic lives of the client's lists and requested management to provide

...

a rationale for any changes in the assumed economic life for the current year.

This memorandum is part of the audit working papers, but it does not have any confirmation from the audit team. The auditor should also follow the confirmation procedure, which includes reviewing the minutes of the board of directors meeting and summarizing all relevant information related to the financial statements in the audit file.

View entire sample
Join StudyHippo to see entire essay
Get an explanation on any task
Get unstuck with the help of our AI assistant in seconds
New