Identify and use audit procedures, Auditing

Assignment Help:

(a) In order to draw reasonable conclusions, an auditor is required to identify and use audit procedures to gather audit evidence. You are required to identify and explain, five different types of each:-

(i) Audit procedures

(ii) Audit evidence

(b) Summarise the type of evidence that an auditor would collect in respect of the following item in a company client's balance sheet:

"Land and Building" of Rs 2, 000,000/-


Related Discussions:- Identify and use audit procedures

A test for unrecorded liabilities, should your test for unrecorded liabilit...

should your test for unrecorded liabilities be affected by the fact that a letter is obtained in which a responsible management official certifies that to the test of his knowledge

Related parties - audit evidence, Related Parties - Audit Evidence IAS...

Related Parties - Audit Evidence IAS 24 prescribes the disclosures essential to the possibility to draw attention which the financial position and loss or profit of an entity

Normal audit risk, Normal audit risk Indications that an audit is a normal...

Normal audit risk Indications that an audit is a normal risk audit are: (1) The client having management and staff who are competent and have integrity; (2) Where the client h

Basic elements of a management representation letter, Basic Elements of a M...

Basic Elements of a Management Representation Letter Whenever requesting a management representation letter, such the auditor would request which it be addressed to the audi

Checking consolidation papers, Checking Consolidation Papers The audit...

Checking Consolidation Papers The auditor pays particular concentration to the calculation of: a) Goodwill arising on consolidation and acquisition b) Post-acquisition a

The concept of audit evidence, The Concept of Audit Evidence Auditing i...

The Concept of Audit Evidence Auditing is an evidence gathering exercise. It is an exercise carried out to confirm the assertions made by the management in carrying out the man

Share and deposits, Share and deposits Shares may consist of subscripti...

Share and deposits Shares may consist of subscription shares and paid up shares. Interest on shares might be credited to the accounts rather than being paid to ensure proper co

Audit approach, Audit Approach The auditor: 1) Must get the coopera...

Audit Approach The auditor: 1) Must get the cooperation of the client, as simply the client can authorise third parties that communicate along with the auditor. 2) Choos

Initial identification - intangible asset, Initial Identification - Intangi...

Initial Identification - Intangible Asset Subsequent to initial identification, an intangible asset is carried at: a) Cost, less any accumulated amortization and any accumu

Advantages and disadvantages of internal audit?, Benefits of Internal Audit...

Benefits of Internal Audit are following: It is in-expensive. No charted accounted is needed to audit internally. Faults will be removed before preparing financial stateme

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