Auditing Qs, acc

• Provide two examples of circumstances where it would be appropriate to use audit staff with special qualifications in performing tests of controls. When is it most appropriate to use entry-level staff to perform tests of controls?

• List the steps involved in selecting and evaluating a nonstatistical or a statistical sample for tests of controls. Identify the professional judgments that must be made associated with each step.

• Will the use of IT eliminate the audit trail, making it impossible to trace individual transactions from their origin to the summary total in the financial statements? Explain. How do the American Institute of Certified Public Accountants (AICPA) and the Public Company Accounting Oversight Board (PCAOB) want the auditor to address controls in the light of the previous statement? 

• What is the difference between auditing around a computer and auditing through a computer? Explain

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