Roll-Forward Procedures Are Performed

question 59

Multiple Choice

Roll-forward procedures are performed

• A) to update the audit findings from the time of the interim procedures through to year end.
• B) to detect fraud in various balance sheet accounts.
• C) before the end of the financial year.
• D) none of the above

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Definitions:

Actual Results

Actual results refer to the final outcomes or data obtained after completing a process or experiment, measured against predetermined objectives or expectations.

Variable Overhead Efficiency Variance

The difference between the actual and standard cost of variable overhead based on the efficient use of production resources.

Machine-Hours

A measure of production output or activity based on the total hours machines are operated in the manufacturing process.

Overhead Rate

A calculation used to allocate indirect costs to products or services, typically expressed as a rate per unit of activity (e.g., labor hours or machine hours).