A organization finalized a contract in which a vendor is expected to design, procure, and construct a power substation for $3,000,000. In this scenario, the organization agreed to which of the following types of contracts?
An internal auditor is trying to assess control risk and the effectiveness of an organization's internal controls. Which of the following audit procedures would not provide assurance to the auditor on this matter?
On January 1, an entity issued a 10-year US $500,000 bond at 96% of its face amount. The bond bears interest at 12%, payable on January 1 and July 1. The entry to record the issuance of the bond on January 1 is:
The decision to implement enhanced failure detection and back-up systems to improve data integrity is an example of which risk response?
During an audit of the organization's annual financial statements, the internal auditor notes that the current cost of goods sold percentage is substantially higher than in prior years. Which of the following is the most likely explanation for this increase?
