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Audit sampling,factors effecting sample size for tests of details.
Auditing
answered on 18-Apr-22 13:13
What does it mean?give an example.
latest answer
Auditors usually perform substantive analytical procedures by building their expectations and compare them to the clientâ??s record. For example, interest expense of borrowings is multiplied by the average outstanding balance of borrowings with the average interest rate. If it is not significantly different from the clientâ??s record, further test can come down. Tests of details are the audit procedures that auditors perform to test various audit assertions of significant account balances, classes of transactions, and disclosures of the clientâ??s financial statements. For example, test of detail on expenses - vouching expense transactions to supporting documents, such as loan agreement, and receipts, to ensure the occurrence assertion. So if the audit evidence from any of them is sufficient / adequate, the auditor need not do more of sampling
Anusha narayana
CA Inter
★ 2K+
1
959
Sec 144
Auditing
answered on 18-Apr-22 13:08
Sir this applies to internal auditor also or only for external auditor
latest answer
Ok mam
Pandusml V
CA Final
★ 4K+
2
385
Repossession
Accountancy
answered on 16-Apr-22 17:43
In the question, they gave that the vendor took the 2 tempos against the amount due Why did we again pay him the amount of 41638 to him for the 3rd instalment for one tempo left with us
latest answer
Thanks for sharing sir
mani charan
CA Final
★ 3K+
2
415
Tax
Direct Taxation
answered on 18-Apr-22 10:07
1 st question 4th but calculation is not getting ... Can I get the calculation...
latest answer
Please post complete workings
DOKARA Sravani
CA Final
★ 10K+
3
706
Partners salary
Direct Taxation
answered on 16-Apr-22 16:21
Is Salary received by partner which is not allowed as deduction for firm, is taxable in partner hands ?
latest answer
Yes, the income will be taxable only in the hands of one person either for a firm or a partner
Balaji R
CA Final
★ 20K+
2
449
Doubt
Corporate & Other Laws
answered on 18-Apr-22 09:37
In this question regestration is made within 60 days which could be done by payment of additional fees however the answer is on payment of advolrem fees Where iam making mistake...?
latest answer
300 days for charges formed prior to 2nd November 2018 (commencement of Ordinance, 2018).
Sri kanaga Varshini
CA Final
★ 3K+
1
404
Cost of improvement
Direct Taxation
answered on 16-Apr-22 08:30
Where the assessee got the property from the father and the father has incurred the cost of improvement before 1/4/2001, and now the assessee takes the cost of acquisition as the cost to the previous owner(as he got such option), now whether the cost of improvement incurred by the father is allowed as a deduction or not
latest answer
Cost of improvement incurred before 1-4-2001 Is not allowed
mani charan
CA Final
★ 3K+
1
395
Advance accounts
Accountancy
answered on 16-Apr-22 17:31
In IRS.. even if not mentioned, which are the balances that should be written off..
latest answer
Can you please post it as a separate query?
Priyanka Agrawal
CA Inter
★ 3K+
5
446
Taxability of PF
Direct Taxation
answered on 16-Apr-22 07:55
In amendment it is stated, if contribution exceeds 2.5 lakhs then interest on cont exceeding 2.5laks is taxed.BUT my doubt is if it is not exceeding 2.5lakhs then old method i.e excess of 9.5 percent is taxable applies ???
latest answer
Thank u sir
Kiran Vijay
CA Final
★ 4K+
2
403
Dividend decision
Financial Management
answered on 01-May-22 19:05
Gordon growth formulae sums Which is crt? Both are same formula, then why ans is differs from one another??
latest answer
Hai, how is ur preparation
Sathiya Bama
CA Final
★ 24K+
11
524