Multiple Choice
In connection with a review of the prepaid insurance account, which of the following audit procedures would you be least likely to use?
A) Recompute the portion of the premium that expired during the year.
B) Prepare excerpts of insurance policies for audit working papers.
C) Confirm premium rates with an independent insurance broker.
D) Examine support for premium payments.
Correct Answer:
Verified
Correct Answer:
Verified
Q49: When auditing accrued property taxes,<br>A) the source
Q50: Which of the following expenses is not
Q51: Methods used to determine if there are
Q52: One of the primary objectives in examining
Q53: The auditor's starting point for verifying disposals
Q55: The auditor needs to be aware that
Q56: The auditor normally does not need to
Q57: Changing circumstances may require a change in
Q58: When auditors verify accrued property taxes, two
Q59: The auditor must know the client's capitalization