AC 410 Unit 3 Homework Assignment
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5–36 Comment on the reliability of each of the following examples of audit evidence. Arrange your answer in the form of a separate paragraph for each item. Explain fully the reasoning employed in judging the reliability of each item. 5-49 Audit risk should be considered when planning and performing an audit of financial statements in accordance with generally accepted auditing standards. 6–25 Mary Deming has been asked to accept an engagement to audit a small financial institution. Deming has not previously audited a financial institution. 6–26
Assume that you have been assigned to the audit of Lockyer Manufacturing Company. You have completed the procedures for gathering information about the company and its environment, including internal control.