https://am.becker.com/assignments/5025/study OIG THE ANSWERS I PUT IN MIG A Assi
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https://am.becker.com/assignments/5025/study OIG THE ANSWERS I PUT IN MIG A Assignment 5 Accountin cosenzo LLP is auditing the y CWhat is a not-for-profit - A.. Exercise 11-1 Deluxe Ezra C.. abouttabs What is a not-for-profit - A... What is a not-for-profit - A... .What is a not-for-profit -A... What is a not-for-profit - A.. x Find: further in Previous Next Options AccountingMasterH ome Assignments Lee Urschel BECKER AccountingMester HomeAssignments PROFESSIONAL EDUCATION AccountingMaster Assignments Assignment 5Question Set Profile Logout Simulation 5 Testlet 2 of 2 Time Elapsed 36 minutes 33 seconds Spreadsheet CalculatorUnsplit Split Hor Split VerticalExit Subsequent Events Authoritative Literature Help Cosenzo LLP is auditing the Year 1 financial records of Pecoraro LLC, a publicly traded manufacturing company. Pecoraro has a December 31 year-end. Cosenzo performed their year-end audit during January and February of Year 2. The financial statements were issued on March 15, Year 2, the date of audit report A. Put a check next to the subsequent event audit procedure(s) that Cosenzo should perform during the audit. Review of post balance transactions Perform a search for unrecorded liabilities Review client bank reconciliations Review management representation letter Make inquiries of management regarding any unusual adjustments that may have been made in the month of January and February, Year 2 Review of the minutes of a stockholders meeting that took place on January 10, Year 2 Perform inventory test counts Examine the latest interim financial statements Review cash disbursement procedures for proper segregation of duties B. For each of the events listed below, select the classification of the event from the drop-down menu Event Classification Reminder Directions Previous Next 2:58 PM 6/28/2016Explanation / Answer
Auditing is an crucial element in assessing the organisational overall performance in terms of financial position.As per the case mentioned every firm has to adopt a specific audit procedure especially when it's assessing the financial position or during winding up.
Generally the audit project includes the following steps :
In detail, the above mentioned organisation should perform following activities:
Finally ,the audit committee will provide recommendations for the management in the audit report which are incorporated towards a better financial position of the firm.
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