Comment on the most appropriate base you would use to calculate materiality, and use it to calculate overall materiality for the current year’s audit. Be sure to explain why you chose the base you did, and justify ALL parts of your calculation. Be sure to show your detailed calculation and make an overall conclusion, including any qualitative factors you considered. (8 marks) Recall that the most common bases used are as follows: 3 – 7% of pre-tax profit (net income before taxes) 1 – 3% of total assets 3 – 5% of shareholders’ equity 1 – 3% of revenues or expenses I’ve included another copy of the client’s trial balance for you (below). 

Describe the risk associated with obtaining sufficient audit evidence over completeness of revenues for Tiger Pro Golf Ltd. Then, describe a substantive audit procedure you could perform during the audit of Tiger Pro Golf Ltd. that would provide you with audit evidence over completeness of revenues. Be sure to link to the case facts provided (generic responses that are not specific to this case will not be awarded any marks). (3 marks)

If the auditor decided that inherent risk should be assessed as ‘high’ rather than ‘low’, this would _______________ the sample size.

If the auditor decided that he/she could no longer rely on controls over this account, this would _______________ the sample size.

If the auditor decided to increase Acceptable Audit Risk, this would _______________ the sample size.

Describe two significant internal control strengths. For each control strength, explain how the control would prevent, detect, or correct errors. Then describe how you (as an auditor of Tiger Pro Golf Ltd.) would test the control. Be sure to link to the case facts provided (generic responses that are not specific to this case will not be awarded any marks). (8 marks)           Note: only the first two will be marked. Note: Do not click anywhere outside of the tables below. If you accidentally delete a template, you can try to undo it by holding down both the ‘Ctrl’ and ‘z’ keys. If that doesn’t work, you’ll need to continue on without the template in the blank space. No time extensions or grade allowances will be given for this. You may find it useful to use this ‘full screen’ icon while inputting your responses: 

Using case facts to support your answer, use the criteria for contingent liabilities to conclude on how BestWay Meals Inc. should treat the job-related injuries from an accounting standpoint? Fully explain your reasoning. (3 marks)

Read the following summary of an article that appeared in USA Today titled “Man skips work for 6 years; no one notices” and answer the two questions that follow:   A 69-year old city employee was fined after officials discovered he hadn’t shown up to work for at least six years, but was still collecting his full salary during that time. The investigation determined that he hadn’t been to his office for at least six years – and possibly as long as 14 years – and had done “absolutely no work” in that time. His superiors discovered the error when he was about to be recognized for a ‘loyal and dedicated service’ award, but no one could reach him, and no one seemed to even know who he was or what he did. City officials explained that this had happened, in part, because the employee had been transferred between city departments over the years. If you were the auditor of this company, which assertion would you identify as being most at risk in this case?  Harthorne, M. (2016, February 14). Man skips work for 6 years; no one notices. USA Today. Retrieved from https://www.usatoday.com/story/news/world/2016/02/14/man-skips-work-for-six-years/80378690/

Identify one significant internal control strength. Describe the strength in detail and explain how the control would prevent/detect/correct errors. Then describe a procedure that the auditors could use to test whether the control is operating effectively. Only the first one will be marked. (4 marks)

The zone in MRI that is commonly the patient reception area is: