Explain the difference between mean squared error and mean absolute deviation as measures of forecast accuracy.

In auditing the financial statements of companies which use computerized accounting systems, the auditors may find that this traditional (audit) trail is often obscured. Various techniques can be used in order to give the auditors greater assurance when the audit trail is lost. Required a) Explain why there is a […]

Puda Development Company (PDC) is a small real estate developer operating in the Eastland’s Valley. It has seven permanent employees whose monthly salaries are given below: Employee Monthly salary (Sh) Managing Director 100,000 Manager, Development 60,000 Manager, Marketing 45,000 Project Manager 55,000 Finance Manager 40,000 Office Manager 30,000 Receptionist 20,000 […]

Explain the role that internal control questionnaires and internal control evaluation questionnaires play in determining the effectiveness of the systems of internal control.

Explain how assessment of systems and controls impacts upon the main stages of the audit process

Define tests of controls, substantive procedures and walk-through tests.

Explain what break-even analysis as used in Quantitative Techniques is

You are auditing the financial statements of Newbridge Trading plc, for the year-ended 31 October 1997. The senior partner of your audit firm has asked you to consider the auditor‟s responsibilities for identifying subsequent events. Also, he has asked you to describe the audit procedures, which examine subsequent events. He […]

In Miami town the average weekly wages for a certain group of wage earners was US $ 3,022.50. In 1998 the average weekly pay for the same group of wage earners showed an earning of US $ 4,836.00. In 1998 the consumer price index using 1990 as a base was […]