0
Auditioning
This category is for questions about acting auditions [http://www.answers.com/topic/audition?ff=1].
1,595 Questions
"I Am the Very Model of a Modern Major-General"
The practice saved on paper, and the limited number of complete scripts prevented rival theater companies from stealing each others' scripts. Nowadays, "sides" mean the part of a script provided to actors for use in an audition. Typically sides are available in advance of the audition.
Anamika has multiple meanings however, most of them are related to female fingers. It means "Ring Finger" or a "lady with beautiful fingers".
What are the post audit responsibilities in completing the audit?
Postaudit responsibilities include consideration of-
1.Subsequent events occurring between the date and issuance of the auditors report.2.The discovery of existing facts.3.The discovery of omitted procedures.
What is an audit trail and what is its purpose?
An audit (financial or non-financial) therefore indicates detailed examination and verification of an account, a situation or a state.
Given this definition, the application of an audit varies from financial audits to marketing audits; from fire safety audit to statutory refulations requirements audit(like ISO, HAACP etc). Very large scale audits include an audit of the city.
The purpose of carrying out the audit varies. In the case of a fire safety audit, we are ensuring environmental safety. In the case of an annual financial audit, the primary purpose of its existence is the protection of stockholders in publicly traded What is the purpose of an audit.
To this end, my reply is that the purpose of an audit is to verify and examine in detail if there is accuracy in information. However, the type of audit being carried out may have a deeper underlying purpose which is being addressed.
Specifically, the purose of an audit is to perform an independent assessment of an action, function, or system, in order to determine the effectiveness of that action, function, or systems ability to control risk.
What are some NON Scam acting agencies in the Chicagoland area?
Gray Talent Group
Stewary Talent Agency
Grossman & Jack
Aria Talent
Geddes Agency
Lily's Talent Agency
What religion is Michelle Pfeiffer?
She had her daughter christened its on davids imdb he adopted her that day
What is the nature of auditing in a company?
The nature of auditing is such that, the auditor will later on appear in his capacity as a critic of book-keepers work,may have a great morale effect and thus prevent a cashier or book-keeper from embezzling money.This morale effect has prevented theft in many cases and is a more powerful point in favour of auditing.
Meaning of Substantive Audit and the approach applied in EM's Audit of Maxall.
What do you think the auditors meant by the term "Substantive Audit"? Was the substantive approach appropriately applied in EM's audit of Maxall?
Here the term substantive Audit refers to the test of account balances with respect to the transactions relating to it.
Yes the substantive approach was appropriately applied in this audit which was confined to Accounts Receivables, in relation to sales.
Comparison of Audit Procedures that are in accordance with Generally Accepted Auditing Standards.
Identify and discuss specific audit process/procedures that the auditor(s) performed that were in accordance with Generally Accepted Auditing Standards.
We have got three types of tests performed under substantive audits, as per the Generally Accepted Auditing Standards, namely
(I) Test of Transactions,
(II) Test of balances
(III) Analytical review procedures.
(I) Test of transaction: It is an auditing procedure related to examining specified transactions and supporting documentation. It is part of the testing process used by the auditor to check internal-controls reliability. It is undertaken to gather evidence so that an audit opinion can be rendered as to the fairness of financial statement presentation. Included in such a test is verifying transaction amounts and tracing transactions to accounts in the financial statements.
Here this test was confined to Accounts receivable, sales and inventory.
(II) Test of Balances When EM compares the book balance of cash to the book balance, it is a test of balances. This is the step in which the Auditor seeks to obtain sufficient evidence to make a final judgment on the extent of losses or account misstatements that have occurred or might occur.
Here, in this audit, the CPA's obtained evidence relating to the Accounts receivables with respect to the sales made during the year. They found out that 6 invoices made at the year end and confirmed those with the concerned customers.
(III) Analytical review is an auditing process that tests relationships among accounts and identifies material changes. It involves analyzing significant ratios and trends for unusual changes and questionable items. Included in the analytical review process are: (1) reading important documents and analyzing their accounting and financial effects; (2) reviewing the activity in an account between interim and year-end, especially noting entries out of the ordinary; and (3) comparing current period account balances to prior periods as well as to budgeted amounts, noting reasonableness of account balances by evaluating logical relationships among them (i.e., relating payables to expenses, accounts receivable to sales).
Only a part of Analytical review was made by EM for this company. They made certain adjustments relating to sales and Provision for doubtful debts.
Identification of Audit Errors made by EM and Precautionary measures to be taken.
Identify the specific audit errors made by EM and discuss what the auditor
should have done to avoid the errors.
Inherent risk is the susceptibility of EM audit area to error which could be material, individually or in combination with other errors, as there were no related internal controls. Here we can see a possible error relating to Material. The material level was fixed at $35000 for 20x1 and $50000 for 20x2 which was not substantiated. There is no proper evidence to set these levels for the Material. As per the CPA standards the Material Level should be
Under single Rule
- 5% of pre-tax income
- 0.5% of total assets
- 1% of equity
- 0.5% of total revenues
Or
Under Variable rule
- 2 to 5% of gross profit, if less than $20,000
- 1 to 2% of gross profit, if between $20,000 and $1 million
- 0.5 to 1% of gross profit, if between $1 and $100 million
- 0.5% of gross profit, if more than $100 million.
These rules have not been followed here.
Comparison of audit in compliance with latest professional guidance.
The scope of a forensic audit is to fix blame or answer a question. A forensic audit seeks proof, not reasonable assurance. Here the auditors have conducted a normal audit. When they found out the sales made in late December 20x1 and 20x2 to Balco limited, was given 90 to 120 days credit limit, they should have enquired into the reasons behind it and should have gathered enough evidence for evaluating the credibility of the customer. But they accepted the Mary Maxwell assurance for this customer. This evidence clearly shows that this audit was not conducted entirely in compliance with the professional guidance regarding the forensic-type phase of audit.
What is clarity and voice modulation?
clarity is the quality of being clearly heard and easily understood; while voice modulation refers to the adjustment of the pitch or tone of voice to become enough to be clearly heard and understood by the audience.
What are Performance audits done for?
They are conducted to determine if an entity's operations, programs, or projects are functioning effectively and efficiently to achieve goals established
Which type of audit may be conducted within a practice setting to expose billing problems?
B. internal
Who is responsible for setting auditing standards for audits of publicly-traded companies?
PCOAB
Public Company Accounting Oversight Board
What is the difference between audit report and audit certificate?
Guidance Note on Audit Reports and Certificates for Special Purposes
1. Introduction
1.1 Government authorities may, under various statutes or notifications, require reports or
certificates from auditors in support of statements or other information prepared by an enterprise.
Reports or certificates on specific matters may also be required from auditors by an enterprise,
for its own special purposes. These reports or certificates cater to specific requirements of the
individual users unlike a 'general purpose report' e.g. an auditor's report on financial statements
which is intended for general use. An audit report or certificate for special purpose is one to
which the format of general purpose audit report is not applicable.
1.2 This note is intended to provide guidance to members who way be called upon to give audit
reports or certificates for special purposes (herein referred to as 'reporting auditors'). Reports on
profit and/or financial forecasts and on tax audit do not fall within the scope of this guidance
note.*
2. Scope of Special Purpose Audit Reports and Certificates
2.1 Audit reports or certificates for special purposes may be issued in connection with:
a. financial statements which are prepared in addition to general purpose financial
statements;
b. specified elements, accounts or items of a financial statement;
c. compliance with requirements of any agreement or statute or regulation;
d. financial information given in special purpose formats or schedules;
e. compilation of statistics or ascertainment of basic figures e.g., for the purpose of fixing
quotas or levies.
2.2 A reporting ' auditor Should appreciate the difference between the terms certificate' and
'report'. A certificate is a written confirmation of the accuracy of the facts stated therein and does
not involve any estimate or opinion. A report, on the other hand, is a formal statement usually
made after an enquiry, examination or review of specified matters under report and includes the
reporting auditor's opinion thereon. Thus, when a reporting auditor issues a certificate, he is
responsible for the factual accuracy of what is stated therein. On the other hand, when a reporting
auditor gives a report, he is responsible for ensuring that the report is based on factual data, that
his opinion is in due accordance with facts, and that it is arrived at by the application of due care
and skill.
3. Responsibility for Preparation of Special Purpose Statements
The primary responsibility for the contents of a special purpose statement rests with the
enterprise and this would be evidenced by a suitable declaration or authentication by the
management on the face of the statement.
there are two types of audit, external and internal. Internal audit is necessary in any business enterprise in order to determine adherence to company policies and determine losses due to irrregularities by employees. External audit is likewise mandated for the final presentation of the financial condition and statement of earnings by the company for a certain particular period, either a calendar or fiscal year as mandated also by government regulatory agencies of a country.
