1. DEVRY ACCT 555 W EEK 7 H OMEWORK A SSIGNMENT Check this A+ tutorial guideline at http://www.assignmentcloud.com/acct-555/acct-555-week-7-homework- assignment For more classes visit http://www.assignmentcloud.com 20-17 a.A factory foreman at Steblecki Corporation discharged an hourly worker but did not notify the human resources department. The foreman then forged the worker’s signature on time cards and work tickets and, when giving out the checks, diverted the payroll checks drawn from the discharged worker to his own use. The most effective procedure for preventing this activity is to An auditor found that employee time records in one department are not properly approved by the supervisor. Which of the following could result? The purpose of segregating the duties of hiring personnel and distributing payroll checks is to separate the 20-20

2. Identify whether each of the procedures is primarily a test of control or a substantive test of transactions. Identify the transaction-related audit objective(s) of each of the procedures ​ 21-17 Which of the following controls will most likely justify a reduced assessed level of control risk for the occurrence assertion for purchases of inventory? 21-18 When an auditor tests a client’s cost accounting records, the auditor’s tests are primarily designed to determine that 21-19 Which of the following procedures is the auditor least likely to perform on the actual date the physical inventory count is observed? 21-20 For each of the preceding questions, state the purpose of the internal control. For each internal control, list a test of control to test its effectiveness. For each of the preceding questions, identify the nature of the potential financial misstatement(s) if the control is not in effect. For each of the potential misstatements in part c, li