ACC/491 (Contemporary Auditing 1)
Audit Sampling Case
From:Audit Team C
Re:Mt. Hood Furniture Audit
The primary objective of the audit is to provide an assessment on the accuracy of the inventory of Mt. Hood Furniture. This is important to Mt. Hood Furniture because it will have a direct effect on the financial statements of the company. Inventory is a balance sheet item that affects the company's assets where misstatement will overstate or understate its balance. We have separately observed the inventory and we are satisfied that the inventory was accurately counted. However, further testing should be conducted on the transcribing process of the final accumulation and valuation of inventory and the accuracy...
Excerpt from file: Runninghead:AUDITSAMPLINGCASE1 ACC/491(ContemporaryAuditing1) Week5 AuditSamplingCase (1500Words) Memorandum To: From: AuditTeamC Date: ...
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