Audit 1 by siti aisyah https://padlet.com/ctaisyah0012/alfa QUESTION 1-17 en-us 2022-03-05 01:59:24 UTC 2022-03-07 03:23:36 UTC hello@padlet.com Answer A ctaisyah0012 https://padlet.com/ctaisyah0012/alfa/wish/2079650624 The similarity Consumer Union and Assurance service provided CPA firms

  1. Help to improve the reliability and relevance of the information used as the basis for their decisions. 

    Customer Union help customer to make intelligent decisions 

  2. The assurance provider is INDEPENDENT and preceived as being UNBIASED with respect to the information examined.

]]> 2022-03-06 06:05:10 UTC https://padlet.com/ctaisyah0012/alfa/wish/2079650624 Answer B https://padlet.com/ctaisyah0012/alfa/wish/2079835511 The concepts of information risk for the buyer of an automobile and for the user of financial statements are essentially the same.

They are both concerned with the problem of unreliable information being provided. In the case of the auditor, the user is concerned about unreliable information being provided in the financial statements.

The buyer of an automobile is likely to be concerned about
the manufacturer or dealer providing unreliable information.


]]> 2022-03-06 11:42:14 UTC https://padlet.com/ctaisyah0012/alfa/wish/2079835511 Question ctaisyah0012 https://padlet.com/ctaisyah0012/alfa/wish/2079843247 In what ways are the services provided by Consumers Union similar to assurance 
 services provided by CPA firms?]]> 2022-03-06 11:54:05 UTC https://padlet.com/ctaisyah0012/alfa/wish/2079843247 Question izzanhakimi221 https://padlet.com/ctaisyah0012/alfa/wish/2079843707 Compare the concept of information risk introduced in this chapter with the information risk problem faced by a buyer of an automobile.]]> 2022-03-06 11:54:49 UTC https://padlet.com/ctaisyah0012/alfa/wish/2079843707 Answer D ftrizuki https://padlet.com/ctaisyah0012/alfa/wish/2079914267 The three ways users of financial statements and buyers of automobiles reduce information risk are also similar: 

1. User verifies information him or herself. That can be attained by driving diverse automobiles, inspecting the stipulations of the automobiles, talking to other users and doing investigation in various magazines. 

2. User shares information risk with management. The manufacturer of a product has an accountability to meet its warranties and to provide a practical product. The buyer of an automobile can return the automobile for rectification of defects. In some cases a refund may be gotten.

3. Examine the information prepared by Consumer Reports. This is comparable to an audit in the sense that autonomous facts is provided by an independent party. The statistics provided by Consumer Reports is similar to that provided by a CPA firm that audited financial statements.



]]> 2022-03-06 13:39:29 UTC https://padlet.com/ctaisyah0012/alfa/wish/2079914267 https://padlet.com/ctaisyah0012/alfa/wish/2079974342 Answer C

The four causes of information risk faces by users of financial statements as discussed in this chapter with those faced by a buyer of an automobile are:

1) Remoteness information
    - Buyer find the difficulties to get information from the     manufacturer
    - Seek the information from other buyers

2) Biases and motives of the provider
    - Manufacturer want to maximize their profit by setting up a higher the selling price
    - Buyer want to produce a good quality of product at a lowest price

3)Voluminous data
    - There are information regarding the product

4) Complex exchange transaction
    - The exchange transaction become expensive because the cost of making the car are high
]]> 2022-03-06 14:47:25 UTC https://padlet.com/ctaisyah0012/alfa/wish/2079974342 Question ftrizuki https://padlet.com/ctaisyah0012/alfa/wish/2079974779 Compare the three ways users of financial statements can reduce information risk with those available to a buyer of an automobile.

]]> 2022-03-06 14:48:05 UTC https://padlet.com/ctaisyah0012/alfa/wish/2079974779 https://padlet.com/ctaisyah0012/alfa/wish/2079975547 QUESTION 
Compare the four causes of information risk faces by users of financial statements as discussed in this chapter with those faced by a buyer of an automobile.]]> 2022-03-06 14:49:07 UTC https://padlet.com/ctaisyah0012/alfa/wish/2079975547