Explain an example relevant to the audit of purchases, Auditing

Assignment Help:

QUESTION:

(a) The auditor should get relevant and reliable audit evidence sufficient to enable him to draw reasonable conclusions therefrom:

(i) What do you understand by the term "audit evidence" and state what it comprises?

(ii) State and describe FOUR factors that influence the reliability of evidence.

(iii) List and illustrate FOUR factors that will influence the auditor?s judgement regarding the sufficiency of the evidence obtained.

(b) The auditor has a responsibility to design audit procedures to get sufficient and appropriate evidence.

(i) State and explain FOUR procedures for obtaining evidence and;

(ii) For each procedure, explain an example relevant to the audit of purchases and other expenses.


Related Discussions:- Explain an example relevant to the audit of purchases

Please assist me with this internet research, Please assist me with this in...

Please assist me with this internet research, Search the internet (e.g. a company's website or sec.gov and find an audit report for a company's audit of internal control over fi

Simplified retirement plan, Simple Plans - An employer can adopt a simplifi...

Simple Plans - An employer can adopt a simplified retirement plan known as a SIMPLE Plan (Savings incentive match plan for employees) if it has fewer than 100 employees that receiv

Systems based audit approach, Systems Based audit approach The basis of...

Systems Based audit approach The basis of IAS 400, Risk Assessment and Internal Control. The term systems audit refers to the typical audit approach to medium and large comp

Verification, discuss the verification procedure of current assets and long...

discuss the verification procedure of current assets and long term liabilties

business risk and controls, What is business risk and what controls should...

What is business risk and what controls should organizations have in place?  Business Risk and Controls Business or operational risks related to the activities carried out

Role of accountant, Role of Accountant The Accountant's Role Every ...

Role of Accountant The Accountant's Role Every year a lawyer who such handles client's money is used to created to the Law Society of US a report through a qualified accoun

Debtors - audit process, Debtors - Audit Process Considering that what...

Debtors - Audit Process Considering that what we have gone by on the other assets the audit work to check the figure of trade debtors should be follows as: 1) Get a schedul

Describe the concept of internal control, You have been appointed as an Int...

You have been appointed as an Internal Auditor in an organisation . As part of your duties, you are required to provide training to the staff in the internal audit division. Your f

Online real time systems, List the internal controls that should be in effe...

List the internal controls that should be in effect solely because a EDP system is employed, classifing them as (1) Those controls pertaining to input of information and (2) All ot

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd