Discuss two purposes of audit documentation

Assignment Help Auditing

Reference no: EM132533328 , Length: word count:1200

Case 5.3 Red Bluff Inn & Café

Question 1

Discuss two concerns relating to possible fraud for the café part of the business, and a respective control procedure that could mitigate each concerneffectively.

a) Concern 1

______________________________________________________________________

Control procedure addressing concern 1

______________________________________________________________________

b) Concern 2

______________________________________________________________________

Control procedure addressing concern 2

______________________________________________________________________

Question 2

Discuss two concerns relating to possible fraud for the motel part of the business, and a respective control procedure that could mitigate each concerneffectively.

a) Concern 1

______________________________________________________________________

Control procedure addressing concern 1

______________________________________________________________________

b) Concern 2

______________________________________________________________________

Control procedure addressing concern 2

______________________________________________________________________

Case 11.1 The Runners Shop

Question 1

Discuss two purposes of audit documentation as specified in ASA 230.

Purpose 1
_________________________________________________________________________

Purpose 2
_________________________________________________________________________

Question 2

Explain the purpose of the following features of audit documentation:

a) Indexing;

______________________________________________________________________

b) Cross-referencing;

______________________________________________________________________

c) Tickmark.

______________________________________________________________________

Question 3

Review the audit documentation provided and list three deficiencies on the schedules.

Deficiency 1

_________________________________________________________________________

Deficiency 2

_________________________________________________________________________

Deficiency 3

_________________________________________________________________________

Question 4

As an experienced auditor who had no association with the audit, what conclusion would you have on whether (i) the audit documentationhad complied with ASA 230; and (ii) the Notes Payable had been fairly presented with no material mis-statements, after reviewing the documentation prepared by Green and Brown, LLP?

a) Audit documentation complying with ASA 230

Conclusion: Yes / No

______________________________________________________________________

Justification of your answer

______________________________________________________________________

b) Notes Payable fairly presented with no material mis-statements

Conclusion: Yes / No

______________________________________________________________________

Justification of your answer

______________________________________________________________________

Attachment:- Accounting.rar

Reference no: EM132533328

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