Vouching - Study guides, Class notes & Summaries

WGU D251 ADVANCED AUDITING FINAL EXAM | 300+ Questions with 100% Correct Answers | Updated & Verified 2023 . WGU D251 - Advanced Auditing 2023 1. misstatement: An error, either intentional or unintentional, that exists in a transaction or financial statement account balance. 2. alternative procedures: Procedures used to obtain evidence about the existence and valuation of accounts receivable when a positive confirmation is not returned, including examining cash collected after the conf...

Assertion correct answers Statement or representation, explicit or implicit, made by management regarding the recognition, measurement, presentation, and disclosure of items included in the financial statements and notes Relevant assertion correct answers An assertion that has a reasonable possibility of containing a material misstatement or misstatements that would cause the financial statements to be materially misstated and, therefore, has a meaningful impact on whether the account is fair...

ACCT 3222 Exam 2 Questions with Correct Answers 2024 What are the 2 categories of assertions? - answer1. Transactions & Events & Related Disclosures [ Income statement] 2. Accouont Balances & Related Disclosures [Balance Sheet] Transactions and events and related disclosures - answerCPA COP Completeness Proper Period Cutoff Accuracy Classification Occurrence Presentation Account Balances and Related Disclosures - answerCARE PC Completeness Accuracy Rights and Oblig Existence Pre...

It is important for the CPA to consider the competence of the clients' personnel because their competence has a direct impact upon the: A) cost/benefit relationship of the system of internal control. B) achievement of the objectives of internal control. C) comparison of recorded accountability with assets. D) timing of the tests to be performed. - B When the auditor attempts to understand the operation of the accounting system by tracing a few transactions through the accounting sys...

Utah Notary Exam Questions & Answers 100% Verified Powers & limitations - ANSWER-Notarial acts that may be performed by a notary within the state. Acknowledgement - ANSWER-A notarial act in which a notary certifies that a signer, whose identity is personally known to the notary or proven on the basis of satisfactory evidence, has admitted, in the presence of the notary, to voluntarily signing a document for the document's state purpose. Jurat - ANSWER-A notarial act in which a notary c...

Powers & limitations Notarial acts that may be performed by a notary within the state. Acknowledgement A notarial act in which a notary certifies that a signer, whose identity is personally known to the notary or proven on the basis of satisfactory evidence, has admitted, in the presence of the notary, to voluntarily signing a document for the document's state purpose. Jurat A notarial act in which a notary certifies that a signer, whose identity is personally known or proven on the basis ...

CPA Exam – Aud Question and answer 100% correct 2023Independent Auditor's Responsibilities Independent Auditor's Responsibilities: performing an audit in accordance with generally accepted auditing standards (GAAS). Management Responsibilities Management Responsibilities: responsible for the fair presentation of the financial statements in conformity with GAAP, even if the statements are prepared or audited by CPAs Effective Internal Control Management is also responsible...

Utah Notary Test Questions and Answers Already Passed What are the top 10 mistakes notaries make? 1. Leaving out notarial language 2. Confusing the notarial acts 3. Misinterpreting electronic signature 4. Failing to require personal appearance 5. Failing to name the signer 6. Adopting policies contrary to UCA 46-1-8 7. Failing to require proper ID 8. Refusing documents solely for their content 9. Leaving the notary seal and certificate 10. Executing 'material incomplete' certifica...

4 parts of the AICPA - Answer- 1. Ethical Principles 2. Rules of Conduct 3. Interpretations 4. Ethical Rulings Ethical Principles - Answer- Ideal standards of ethical conduct stated in philosophical terms. Not enforceable Ethical Principles Listed - Answer- Responsibilities, the public interest, integrity, objectivity and independence, due care, scope and nature of services Rules of Conduct - Answer- Minimum standards of ethical conduct stated as specific rules. Enforcable Interpr...

GUAM NOTARY EXAM Questions With 100% verified Answers . Acknowledgement A notorial act in which a notary certifies that a signer, whose identity is proven on the basis of satisfactory evidence, has admitted, in the notary's presence, having signed a document voluntarily for its stated purpose Commission To empower to perform notorial acts and the written authority to perform those acts Copy Certification A notorial act in which a notary certifies having made a photocopy of a document tha...