• Isa 520
    INTERNATIONAL STANDARD ON AUDITING 520 ANALYTICAL PROCEDURES (Effective for audits of financial statements for periods beginning on or after December 15, 2009) CONTENTS Introduction|Paragraph|| ||| Scope of this ISA .........................................................................
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  • audit test
    Learning Zone Analytical Procedures – A Powerful Tool for Auditors (Relevant to Paper 8 – Principles of Auditing and Management Information Systems) David Chow FCCA, FCPA, CPA (Practising) Audit tests assessment of risks of material misstatement at the assertion level includes an expectation ...
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  • PSA 520
    use of analytical procedures as substantive procedures (“substantive analytical procedures”), and as procedures near the end of the audit that assist the auditor when forming an overall conclusion on the financial statements. The use of analytical procedures as risk assessment procedures is dealt with in...
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  • Auditing & Assurance
    ACCY342 Auditing & Assurance Services Autumn Session 2012 Lecture 11 17/05/2012 Chapter 11 Substantive Testing and Income Statement accounts Risk and substantive procedures 1. Differences between auditing Income Statement and Balance Sheet accounts    Balance sheet accounts typically represent...
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  • Analytical Procedures – a Powerful Tool for Auditors by David Chow
    Learning Zone Analytical Procedures – A Powerful Tool for Auditors (Relevant to Paper 8 – Principles of Auditing and Management Information Systems) David Chow FCCA, FCPA, CPA (Practising) Audit tests Auditors normally carry out the following types of audit tests to determine whether financial...
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  • The Concepts of Cpa
    Why Do Auditors Over-Rely on Weak Analytical Procedures? The Role of Outcome and Insensitivity to Precision Steven M. Glover PricewaterhouseCoopers Research Fellow Glover@byu.edu (801) 422-6080 Douglas F. Prawitt Deloitte Research Fellow Doug_Prawitt@byu.edu (801) 422-2351 T....
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  • Analytical Procedures
    01 tecHnicAl analytical procedures relevAnt to AccA QuAlificAtion PAPers f8 AnD P7 AnD cAt PAPer 8 ‘The auditor shall design and perform audit procedures that are appropriate in the circumstances for the purpose of obtaining sufficient appropriate audit evidence.’ (ISA/HKSA 500(6)) To...
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  • Acca F8 Toc
    Substantive Procedures - Class of Transactions SALES AND SALES RETURN Occurrence  Compare Sales of this year with Sales of last year as well as Analytical Procedures (for with budgeted and Industry average. Investigate unusual Overstatement) difference.  Completeness (for ...
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  • ACC431
    Chapter 14 Audit of the Sales and Collection Cycle: Tests of Controls and Substantive Tests of Transactions This is an essential chapter because it is the first chapter to deal with specific evidence in an audit area. It is essential that the concepts of previous chapters be applied to the sales...
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  • No File
    will be exposed to the principles of auditing in performing the auditing task. The coverage of the course includes collection of evidence, internal control evaluation, auditing documentation until the issuance of an audit report. Methodology and auditing financial statement cycle such as sales and collection...
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  • Week 5 Solutions
    Substantive | S T of T | Posting and summarization | N/A | 2. Acquisition and Payment | Documentation | Test of control or Substantive | S T of T | Occurrence | N/A | 3. Acquisition and Payment | Documentation | Substantive | ...
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  • Auditing
    appropriate evidence it is not possible to from an opinion due to potential interaction of multiple uncertainties Material misstatements * Difference between the amount, classification, presentation, or discloser of a reported financial report item and the amount, classification, presentation, or disclosure...
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  • Chapter 13 Lc
    is applicable to both tests of controls and substantive tests. However, it is not equally applicable to all auditing procedures. For example, it is widely used in vouching, confirming, and tracing, but it is ordinarily not used in inquiring, observing, and analytical procedures. 13-2. a. Sampling...
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  • Auditors Serious: Cash Audits
    Pre-Enron, a study was taken on companies and it was discovered that “less than 10 percent of all companies have detailed, written cash management procedures. A 1985 and 1986 Greenwich Research Associates survey found that less than 5 percent of all companies conducted consulting assignments on their internal...
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  • Intwernal Control & Audit of Financial Statements
    Tests of controls consist of procedures directed toward the evaluation of the effectiveness of the design and implementation of internal controls (AU 319).when tests of controls look at design issues, the auditors evaluates whether the control has been properly designed to prevent or detect material...
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  • Audit Chapter 9 Notes
    i Chapter 9 Notes What is Audit Sampling? * Audit Sampling – applying a procedure to less than 100% of a population to estimate some characteristic of that population * Sampling Risk – risk that a sample may not be representative of the population * Risk that the auditor’s conclusion...
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  • Auditing
    Page 1 of 14 CPA REVIEW SCHOOL OF THE PHILIPPINES Manila AUDITING THEORY AUDIT SAMPLING Related PSA: PSA 530 When designing audit procedures, the auditor should determine appropriate means of selecting items for testing. The means available to the auditor are: (a) Selecting all items (100% examination);...
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  • Design Tests
    Design tests of controls, substantive tests of transactions, and analytical procedures for the following Apollo Shoes cycles: o Inventory and warehousing cycle o Cash cycle 1. Abstract, Inventory and warehousing cycle (tests of controls) YOLANDA 2. Intro, Inventory and warehousing (substantive...
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  • Cga Assignment Au1
    for Mona and Michael’s to understand Difference between an Audit, a review and a compilation: Basis | Audit | Review | Compilation | Audit evidence | Require extensive audit evidence. | Require moderate audit evidence. | Require minor audit evidence. | Procedures | Inspection Observation Inquiry ...
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  • Course notes
    Risk Assessment: Internal Control Evaluation   Multiple Choice Questions   1. An audit team's responsibility would not include  A. Designing client's internal controls. B. Documentation of understanding of a client's internal controls. C. Communicating internal control deficiencies. D. Assessing...
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