A)Distinguish between internal documentation and external documentation as types of audit evidence.Give two examples of each.Which type is considered more reliable? B)Below are 10 documents typically examined by auditors.Classify each document as either internal or external.
Definitions:
Present Value
The current worth of a future sum of money or stream of cash flows, given a specified rate of return.
Q1: Fabio recently sold his restaurant for $650
Q7: Bratlett Company has purchased all of the
Q15: The requirement for an attitude of skepticism
Q47: Adequate planning and execution to reduce risk
Q50: PA has been asked to accept the
Q51: The Sarbanes-Oxley Act of 2002 made it
Q53: Larger audits may have established procedures that
Q55: Whenever a statistical method is used,a decision
Q65: The Canada Business Corporation Act gave authority
Q77: If an auditor would like to estimate