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Author Question: When auditing prepaid insurance, (Read 107 times)

BSITTON

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on: Aug 21, 2022

Question 1

When an auditor recomputes the unexpired portion of prepaid insurance, they are satisfying which audit objective?
◦ completeness
◦ existence
◦ accuracy and detail tie-in
◦ rights

Question 2

When auditing prepaid insurance,
◦ for many audits, significant substantive procedures are needed if the control risk is low.
◦ companies often have a standard monthly journal entry to reclassify prepaid insurance as insurance expense.
◦ the emphasis in the tests of details of balances is on insurance expense.
◦ the auditor must prepare the insurance register.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
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Marked as best answer by BSITTON on Aug 21, 2022

Talvinder.Singh

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Reply #1 on: Aug 21, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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BSITTON

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Reply 2 on: Aug 21, 2022
YES! Correct, THANKS for helping me on my review

ebonylittles

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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