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What does an auditor do if there is a material difference between an expected and actual balance?
Wiki User
∙ 13y ago
However, if there is a material difference between the expected and actual balance, the auditor will investigate this difference further. At this point the auditor will develop an explanation for the difference.
Wiki User
∙ 13y ago
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Difference between internal and external auditor?
An internal auditor is one who is on staff at a company or business. The auditor checks to make sure all monies are accounted for, that the company's books balance and that there are internal controls on spending. An external auditor is one that is not a company employee and usually is an accountant from an outside accounting firm that does almost the same job as internal auditors. The main difference is that as an outside company, it can be more objective on its findings.
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Difference between outstanding balance and Statement Balance?
speelling
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Difference between internal and external auditor?
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What is the night auditor?
Night auditor is a Revenue gaurd.who rolled Over date & tallied CASH/CC Reconciliation as well preapare DMR with trial balance and indicate major high balance & prepare all rev>report
Describe three factors which can affect the precision of the auditor's expectation concerning an account balance?
ON9
How do you measure asset quality of banks?
The asset quality of bank cannot be measured alone by relying on Financial Statement Reports (Balance Sheet). You have to check the AUDITED Financial Statements and the Confidential Management Letter issued by the External Auditor for detailed analysis and material findings about the asset accounts. In some countries, such assets quality measure and other material findings were discussed in the notes to the financial statements and in the qualified independent auditor's report .
What happened after the Americans joined world war 1 what difference did they make?
They provided a new source of manpower and material that helped tip the balance of the war.
What is difference between worksheet and balance sheet?
There is a difference between: Worksheet and Balance Sheet
What is the difference between balance sheet and worksheet?
There is a difference between: Worksheet and Balance Sheet
What is the difference between Actual balance and Available balance?
Actual balance is the real balance while avialable balance is the physical balance
Difference between product modulator and balance modulator?
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If a car is repossed you do you still pay the reminder of balance?
When a vehicle is repossessed, it is usually put up for auction. If the monies recovered from the auction is not enough to cover the outstanding balance on the loan, the person the vehicle was repossessed from is expected to pay the difference. It's a bummer, but that's how it goes.
Difference between outstanding balance and Statement Balance?
speelling
Why an external auditor should be concerned over internal control?
An external auditor should be concerned over internal control because it helps ensure the accuracy and reliability of the financial statements. Weak internal controls increase the risk of errors or fraud going undetected, which could lead to misstated financial information. Assessing internal controls is essential for the auditor to determine the extent of their reliance on the company's systems and processes.
