Comparison – Knowsia

AA – May 2017 – L2 – SC – Q7 – Audit-related services

Examination of analytical comparisons, precautions in substantive testing, and limitations of ratio analysis in auditing.

Question

One essential feature of analytical procedures in auditing is ‘comparison’. The auditor will calculate key relationships between figures (non-financial figures as well as financial figures) and then make comparisons.

You are required to:

(a) Identify FOUR areas of comparison when using analytical procedures and explain their purpose. You could tabulate your answers. (8 Marks)
(b) List FOUR precautionary steps the Auditor is required to take before using analytical procedures in substantive testing. (4 Marks)
(c) Describe THREE limitations of ratio analysis in its use in substantive testing. (3 Marks)

Answer

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Tags: Analytical procedures, Audit Limitations, Comparison, Ratios, Substantive Testing
Level: Level 2

Topic: Audit-related services
Series: MAY 2017

CSME – Nov 2020 – L2 – Q6D – Corporate Governance

Differentiate between a trade and a profession.

Question

The ICAN Professional Code of Conduct and Guide for Members requires every member or student of the Institute to always “act professionally” and in “the public interest” in the discharge of their responsibilities.

Required:

Differentiate between a trade and a profession.

Answer

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Tags: Comparison, Profession, Trade
Level: Level 2

Topic: Corporate Governance
Series: NOV 2020

AA – Nov 2016 – L2 – Q2d – Internal Audit and Its Relationship with External Audit

Compare and contrast the roles of internal and external auditors.

Question

Compare and contrast the role of internal auditors and external auditors. (4 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Comparison, External Auditors, Internal Auditors
Level: Level 2

Topic: Internal Audit and Its Relationship with External Audit
Series: NOV 2016

FR – Nov 2016 – L2 – Q5c – Conceptual Framework for Financial Reporting

Compare the general principles underlying CPP and CCA accounting systems.

Question

Compare the general principles underlying Current Purchasing Power (CPP) accounting and Current Cost Accounting (CCA).

Answer

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Tags: CCA Accounting, Comparison, CPP Accounting, Financial Reporting
Level: Level 2

Topic: Conceptual Framework for Financial Reporting
Series: NOV 2016

AA – May 2017 – L2 – SC – Q7 – Audit-related services

Examination of analytical comparisons, precautions in substantive testing, and limitations of ratio analysis in auditing.

Question

You are required to:

(a) Identify FOUR areas of comparison when using analytical procedures and explain their purpose. You could tabulate your answers. (8 Marks)
(b) List FOUR precautionary steps the Auditor is required to take before using analytical procedures in substantive testing. (4 Marks)
(c) Describe THREE limitations of ratio analysis in its use in substantive testing. (3 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Analytical procedures, Audit Limitations, Comparison, Ratios, Substantive Testing
Level: Level 2

Topic: Audit-related services
Series: MAY 2017

CSME – Nov 2020 – L2 – Q6D – Corporate Governance

Differentiate between a trade and a profession.

Question

Required:

Differentiate between a trade and a profession.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Comparison, Profession, Trade
Level: Level 2

Topic: Corporate Governance
Series: NOV 2020

AA – Nov 2016 – L2 – Q2d – Internal Audit and Its Relationship with External Audit

Compare and contrast the roles of internal and external auditors.

Question

Compare and contrast the role of internal auditors and external auditors. (4 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Comparison, External Auditors, Internal Auditors
Level: Level 2

Topic: Internal Audit and Its Relationship with External Audit
Series: NOV 2016

FR – Nov 2016 – L2 – Q5c – Conceptual Framework for Financial Reporting

Compare the general principles underlying CPP and CCA accounting systems.

Question

Compare the general principles underlying Current Purchasing Power (CPP) accounting and Current Cost Accounting (CCA).

Answer

Find Related Questions by Tags, levels, etc.

Tags: CCA Accounting, Comparison, CPP Accounting, Financial Reporting
Level: Level 2

Topic: Conceptual Framework for Financial Reporting
Series: NOV 2016

Question Tag: Comparison

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AA – May 2017 – L2 – SC – Q7 – Audit-related services

Examination of analytical comparisons, precautions in substantive testing, and limitations of ratio analysis in auditing.

CSME – Nov 2020 – L2 – Q6D – Corporate Governance

Differentiate between a trade and a profession.

AA – Nov 2016 – L2 – Q2d – Internal Audit and Its Relationship with External Audit

Compare and contrast the roles of internal and external auditors.

FR – Nov 2016 – L2 – Q5c – Conceptual Framework for Financial Reporting

Compare the general principles underlying CPP and CCA accounting systems.

AA – May 2017 – L2 – SC – Q7 – Audit-related services

Examination of analytical comparisons, precautions in substantive testing, and limitations of ratio analysis in auditing.

CSME – Nov 2020 – L2 – Q6D – Corporate Governance

Differentiate between a trade and a profession.

AA – Nov 2016 – L2 – Q2d – Internal Audit and Its Relationship with External Audit

Compare and contrast the roles of internal and external auditors.

FR – Nov 2016 – L2 – Q5c – Conceptual Framework for Financial Reporting

Compare the general principles underlying CPP and CCA accounting systems.

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