Contemporary Auditing 10th Edition by Michael Knapp

Exercise 4

Describe the procedures an auditor should perform during a review of a client's quarterly financial statements. In your opinion, did the Touche Ross auditors who discovered the $203,000 adjusting entry during their 1985 second-quarter review take all appropriate steps to corroborate that entry Should the auditors have immediately informed the audit partner, Helen Shepherd, of the entry