What type of audit evidence would most likely be used to verify the existence of fixed assets?

Physical examination. Physical evidence gathered by the auditors themselves to verify whether or not certain assets actually exist, or to verify the asset's condition. Physical examination is also a main source of audit evidence used primarily for any fixed assets, such as usage of machinery or supplies.

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Contract with Accountant to Audit Corporation's Group Medical...

Philadelphia Pennsylvania Contract with Accountant to Audit Corporation's Group Medical, Disability, and Life Insurance Program

Name: Philadelphia Pennsylvania Contract with Accountant to Audit Corporation's Group Medical, Disability, and Life Insurance Program
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Employment - Accounting

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Generally, a contract to employ a certified public accountant need not be in writing. However, such contracts often call for services of a highly complex and technical nature, and hence they should be explicit in their terms, and they should be in writing. In particular, a written employment contract is necessary in order to avoid misunderstanding with the employer regarding the amount of the accountant's fee or compensation and the nature of its computation. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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Physical examination. Physical evidence gathered by the auditors themselves to verify whether or not certain assets actually exist, or to verify the asset's condition. Physical examination is also a main source of audit evidence used primarily for any fixed assets, such as usage of machinery or supplies.

Audit of fixed assets Step 1: understand the client procedure of Fixed Assets acquisition and disposal.Step 2: Obtain Fixed Assets Register as maintained by the Client.Step 3: Vouching of Additions to Fixed Assets. Step 4: Vouching of Deletion from Fixed Assets. Step 5: Depreciation and Amortization.Step 6: Revaluation.

As per section 141(3)(d)(i), a person is disqualified to be appointed as an auditor if he, or his relative or partner is holding any security of or interest in the company or its subsidiary, or of its holding or associate company or a subsidiary of such holding company.

Which of the following factors most likely would cause an auditor not to accept a new audit engagement? An inadequate understanding of the entity's internal controls.

The commencement of litigation by the present management alleging deficiencies in audit work for the client would be considered to impair independence. The commencement of litigation by the covered member against the present management alleging management fraud or deceit would be considered to impair independence.

The auditor can obtain different types of audit evidence, including physical examination, documentation, analytical procedure, observations, confirmations, inquiries, etc.

Audit engagement should not be accepted under following circumstances: Serious limitations on scope. Financial reporting framework is unacceptable. Management refuses to provide agreement that it acknowledges its responsibility as regards financial statements.

Auditor shall not accept an audit engagement if the management imposes any limitation on the scope which will result in the auditor disclaiming an opinion on the financial statements, unless required by law or regulation to do so.

Examples of auditing evidence include bank accounts, management accounts, payrolls, bank statements, invoices, and receipts. Good auditing evidence should be sufficient, reliable, provided from an appropriate source, and relevant to the audit at hand.

The most common type of evidence is simply asking the client and employees questions. This is known as inquiries of the client. Inquiries are the most common because they are the easiest type of evidence to obtain and they can result in direct answers to the questions the audit is attempting to ask.

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Health insurance plans both on and off the public exchanges. Cigna offers a differentiated set of medical, pharmacy, behavioral, dental, disability, life and accident insurance and related products and services.Auto insurance protects against financial loss in the event of an accident. It is a contract between the policyholder and the insurance company. More than two infants in the group. ! Infant care center -- A child development center that cares for infants and toddlers. Electing out of the centralized partnership audit regime. Be Aware of Fraudulent Recruiting Activities. Aetna Life Insurance Company. CFR.

Insurance Commission. U.S. Department of Health and Human Services. American Medical Association. 3. The group's members and their employers all have the ability to opt out of the group's centralized enrollment/matching system. For those who do not wish to be enrolled into the group's centralized enrollment/matching system, they are able to opt out by: Going through the opt-out process in the group's enrollment and matching system. The insurance company itself. The group. Aetna, Inc. — (800-4-AETNA,) American Medical Association -) American Council on Education (ACE) -) 4. The group is able to charge higher premiums than other policies. It can also require the policyholder (or family member, if the family has more than one insured) to pay “co-insurance” for “risk” associated with enrollment.

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Philadelphia Pennsylvania Contract with Accountant to Audit Corporation's Group Medical, Disability, and Life Insurance Program

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What type of audit evidence would most likely be used to verify the existence of fixed assets?

What are the audit procedures to verify the fixed assets?

Can I audit my brother's company?

Which of the following factor most likely would cause an auditor not to accept a new audit engagement?

What impairs independence of an auditor?

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Under what circumstances the auditor should not accept an audit engagement?

Which situation would likely make an accountant not accept a new audit engagement?

What type of audit evidence would be used?

Which type of audit evidence is the most commonly used in an audit?

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