Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question:
Part A
(i) List and define five audit procedures for obtaining audit evidence.
(ii) Why is it necessary to obtain corroborating evidence for inquiry and observation?
(iii) What is the difference between test of transactions and tests of balances?
Part B
The auditor finds it necessary to rely on audit evidence that is persuasive rather than conclusive and will often seek audit evidence from different sources or of a different nature to support the same assertion. The reliability of audit evidence is not only important in determining sufficiency (quantity) of the information, but also the appropriateness (quality) of the information. Reliability of audit evidence is influenced by its source and its nature.
Required:-
(i) Define the following terms:
a. Reliability of evidence;b. Persuasiveness of evidence;c. Relevance of evidence
(ii) Why does an auditor prefer persuasive evidence as opposed to conclusive evidence?
1. Why is studying Auditing different from studying other accounting topics? 2. How might understanding auditing concepts prove useful for consultants, business managers, and other
Determinants of amount of audit evidence
Brand Names - Audit Process Few companies in current years have placed valuations on the brand names of the goods such they sell. On the balance sheet the valuation is shown.
Relevance - Sources of evidence The auditor obtains evidence either through compliance testing of the internal controls or through substantive tests of the information contain
Reliance on the Work of Other Auditors The principal auditor or the primary auditor is solely responsible for the holding company's accounts. So here it is inevitable but that
types of edp accounting system
Interim and Final Audits Whereas the split between the systems and balance sheet audits is concerned with thetype of work covered, that between the interim and final audits is
problems associated with intangible asset audit
Statistical techniques Factors to be taken into consideration before adopting statistical techniques: a) The number of clients to whom it is appropriate because set up costs a
Research and development Panorama Ltd manufactures and distributes a wide range of general pharmaceutical products. Selected audited data for the reporting period ended 31 Dec
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd