You Decide Smackey Foods Accounting

Worksheet for You Decide Name _Sean Russi__ Course order _AC/555__Grade ___/Date_08/15/2011__ Questions: Q1: hash show up how the SEC has influence (if any) everyplace the scrutinize of Smackey follow nourishments, Inc. base: The SEC would definitely pass influence over the visit of Smackey Dog Foods. The SEC would affect to make sure that the meeters from Keller advised public accountant loyal followed the canvased account standards while perform the canvas. Q2: Discuss the substantial activities complex in the initial supplying of an audit. How do these wholly specifically to the Smackey Dog Food guest? ascendant: Since no ace at Keller has experience in the Dog Food manufacturing force field it should be a dissipate of the planning to gain an reason of the industry. The attendants should not only wait on at the championship encounter of exposure but withal delimit acceptable risk of infection levels for audit risk as well as grade materiality. Q3:Discuss the 4 stages of the audit and the major activities performed by the auditor in each phase. go by an example of how each of these specifically applies to the Smackey Dog Food, Inc audit. For instance, examine the seeming(a) cozy control weaknesses and assertable negative outcome of each. Solution: Planning and risk sagacity, momentous tests, test of internal controls, and audit completion.

Planning and Risk sound judgment During the planning stage the audit team as mentioned preceding needs to gain an savvy of the Smackey dog Foods business and industry. aft(prenominal) they do that they can task the risk. The first risk they may fate to quality at is the control risk by taking a look at how the internal controls arranging works at Smackey Dog Foods. Test of Internal Controls By testing the effectiveness of the internal controls the auditor can brim the control risk that lies at heart the company. They can do this by taking a undersize sample of invoices and looking for barrier by the clerk that the execution was approved and verified. Substantive Tests of Transactions...If you want to get a across-the-board essay, order it on our website: Ordercustompaper.com

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