Description : Which of the following statements reflects an auditor's responsibility for detecting misstatements due to errors and fraud? a. An auditor is responsible for detecting employee errors and simple fraud, ... due to errors and fraud unless the application of GAAS would result in such detection.
Last Answer : An auditor should design the audit to provide reasonable assurance of detecting misstatements due to errors and fraud that are material to the financial statements.
Description : In a closed traverse, sum of south latitudes exceeds the sum of north latitudes and the sum of east departures exceeds the sum of west departures, then, the closing line will lie in (A) North-west quadrant (B) North-east quadrant (C) South-east quadrant (D) South-west quadrant
Last Answer : (A) North-west quadrant
Description : The operation of making the algebraic sum of latitudes and departures of a closed traverse, each equal to zero, is known (A) Balancing the sights (B) Balancing the departures (C) Balancing the latitudes (D) Balancing the traverse
Last Answer : (D) Balancing the traverse
Description : If in a closed traverse, the sum of the north latitudes is more than the sum of the south latitudes and also the sum of west departures than the sum of the east departures, the bearing of the closing line is in the (A) NE quadrant (B) SE quadrant (C) NW quadrant (D) SW quadrant
Last Answer : (B) SE quadrant