Reference no: EM132890533

Question - Audit Procedures

1. Examine documents in the Voucher package to make sure there is an approved PO, RR and Vendor Invoice.

2. Tracing from Purchase Journal to the Voucher package and compare the vendor name, amount and date and evaluate at eh reasonableness of the account classification.

3. Examine folder containing RR to determine whether each one has a copy of Vendor Invoice attached.

4. Select a random sample of cheque numbers and trace each cheque to the Cash Disbursement Journal, and compare the name, amount and date.

5. Randomly choose a sample of purchases and cash disbursement transactions and trace each one to the AP Sub ledger and compare the name, amount and date of each transaction.

6. Examine a sample of Purchase Returns for the initials for authorization and initials indicating internal verification of the unit costs and comparison of the PReturnto the related RR.

7. Mood a proof of Cash Disbursement for the month of May.

8. Check the sequence of copies of cheques and examine each one for the evidence of authorization for the payment.

REQUIRED - For each audit procedure state

a. What is its primary test: a TOC or a SToT?

b. What are its audit objectives?