Papersbylydia

Analytical Procedures - ANSWER-Evaluation of financial information through analysis of plausible relationships among both financial and nonfinancial data. Application Controls - ANSWER-Controls that apply to the processing of specific computer applications and are part of the computer programs in the accounting system. Confirmation - ANSWER-An external confirmation represents audit evidence obtained by the auditor as a direct written response to the auditor from a third party (the confirmi...

A. - ANSWER-4.20 Enterprise risk management is the responsibility of: a. Company management. b. The external auditors. c. The company's insurance providers. d. All of the above. C. - ANSWER-4.21 Failure to meet company objectives is a result of a. Information risk. b. Audit risk. c. Business risk. d. Inherent risk. D. - ANSWER-4.22 Auditing standards do not require auditors of financial statements to a. Understand the nature of errors and frauds. b. Assess the risk of ...

Which of the following is an example of fraudulent financial reporting? a. An employee diverts customer payments to his personal use, concealing his actions by debiting an expense account, thus overstating expenses. b. Company management falsifies the inventory count, thereby overstating ending inventory and understating cost of sales. c. An employee steals inventory, and the shrinkage is recorded as a cost of goods sold. d. An employee borrows small tools from the company and neglects to re...

Assurance Services - ANSWER-Independent professional services that improve the quality of information, or its context, for decision makers. Encompasses attest services and financial statement audits. Attest - ANSWER-A service when a practitioner is engaged to issue or does issue a report on subject matter, or an assertion about subject matter, that is the responsibility of another party. Encompasses financial statement audits. Audit evidence - ANSWER-All the information used by the auditor...

What are management's incentives for establishing and maintaining strong internal control? What are the auditor's main concerns with internal control? - ANSWER-Management to issue a report that accepts responsibility for establishing and maintaining adequate ICFR AND assert whether it is effective as of the end of the fiscal year - Auditor objective in an ICFR audit is to express an opinion on the effectiveness of the company's internal control over financial reporting - Auditor objective...

The Recent Life Changes Questionnaire is an expanded version of the Schedule of Recent Experiences and the Rahe-Holmes Social Readjustment Rating Scale. A 6-month score of 300 or more, or a year-score total of 500 or more, indicates high stress in a clients life. However, positive coping mechanisms and strong social support can limit susceptibility to stress-related illnesses. - ANSWER-1. A client has experienced the death of a close family member and at the same time becomes unemployed. This...

Which of the following is the essential purpose of the audit function? A. Detection of fraud. B. Examination of individual transactions to certify their validity. C. Determination of whether the client's financial statement assertions are fairly stated. D. Assurance of the consistent application of correct accounting procedures - ANSWER-C. Determination of whether the client's financial statement assertions are fairly stated. Which of the following best describes the primary role and ...

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Which is the most common cause of symptomatic hypomagnesemia? Intravenous drug use Alcoholism Sedentary lifestyle Burns - ANSWER-Alcoholism You are caring for a client with severe hypokalemia. The physician has ordered IV potassium to be administered at 10 mEq/hr. The client complains of burning along their vein. What should you do? Dilute the infusion. Switch to an oral formulation. Increase the speed of transfusion. Change the electrolyte. - ANSWER-Dilute the infusion. **Oral...

The nurse is suctioning a patient who is unable to expectorate respiratory secretions from his tracheotomy. How can the nurse avoid the serious consequences of removing oxygen when suctioning this patient? a. Keep suction pressure between 110 and 120 mm Hg. Incorrect b.Avoid giving the patient oxygen just before suctioning. c.Apply suction as the catheter is advanced into the trachea. d. Do not suction the patient for more than 10 to 15 seconds. - ANSWER-D Limiting suctioning to 10 to...