assertions and audit objectives - Define management assertions and the related audit objectives - Describe management assertions related to class of transactions‚ balances and presentation and disclosures - List out and describe general transaction related audit objectives‚ balance related audit objectives and presentation and disclosure audit objectives - Understand specific audit objectives and how they are linked to general audit objectives and management assertions Topic 4 – Audit evidence
Premium Audit Auditing Internal control
Standards Introduction Self-regulated: the standards governing audits were established by members of the profession themselves Sarbanes-Oxley Acct of 2002 Created: Public Company Accounting Oversight Board (PCAOB) to provide external and independent oversight over the audits of public entities Responsible for registering public accounting firms‚ establishing standards for audit engagements‚ and inspecting the quality of audits conducted by public accounting firms ****Generally Accepted Auditing
Premium Auditing Internal control Audit
1 Chapter 7: Audit Evidence I. Definition: Evidence – information used by the auditor to draw conclusions on the fair presentation of the financial statements. Audit objectives suggest the types of evidence to accumulate. II. Decisions on evidence accumulation A. Which audit procedures to use. General Objectives: Six TRAOs Eight BRAOs Four PDAOs Accounting Cycles: Five Management Assertions Specific Objectives: At least: Six TRAOs Eight BRAOs Four PDAOs Audit Procedures: At least one
Premium Invoice Audit Auditing
Overview of the Soup Industry. Soups have always been very popular among Canadians. Recent study showed that level of consumption of soups in Canada has increased and is showing a steady growth. Calculations say that on average each Canadian consumes up to 85 soups a year (Stefanac). According to Canadian Grocer‚ soup consumption is very high among people over 45 years old (Stefanac). But recently‚ soup industry could see a growth of the consumption among so called Generation Y which represent group
Premium Coffee Starbucks Marketing
CHAPTER 20 Audit of Cash Balances Copyright 2003 Pearson Education Canada Inc. 20 - 1 What are the auditor’s primary concerns with regard to cash? Copyright 2003 Pearson Education Canada Inc. 20 - 2 What are the auditor’s primary concerns with regard to cash? - existence Copyright 2003 Pearson Education Canada Inc. 20 - 3 What are the auditor’s primary concerns with regard to cash? - existence - completeness Copyright 2003 Pearson Education Canada Inc
Premium Cheque Deposit account Credit card
AUDITING THEORY 1. Which of the following activities is an analytical procedure an auditor would perform in the final overall review stage of an audit to ensure that the financial statements are free from material misstatement? A. Reading the minutes of the board of directors’ meetings for the year under audit. B. Obtaining a letter concerning potential liabilities from the client’s attorney. C. Comparing the current year’s financial statements with those of the prior year. D. Ensuring that
Premium Internal control Auditing Audit
LOVE. . As a child‚ I was too selective when it comes to food. Particularly‚ I disliked Egusi Soup. Father hates my selective nature but Mother understands. Infact‚ I abhorred many things which naturally‚ other children craved. We never had much in the house but I was full of choices; frivolous and extravagant choices. Choices which Father deem ’stupid’. . There would be Okra Soup (which is my worst soup) and I would crave Speedy Biscuit and Digestives and Cheese Balls and Lollipops. Father never
Premium Soup Bless you Childhood
the film‚ referring primarily to the comedy film "Duck Soup".
Premium Heavy metal music Heavy metal music Groucho Marx
SEMESTER 1‚ 2013 SEMINAR 9 - PROBLEM QUESTIONS PROBLEM 9.1 While assessing the risk of material misstatement and determining the appropriate response with regard to the inventory of Ace Computers Ltd (Ace) for the year ended 30 June 2011 audit‚ you become aware of the following information: 1. The best-selling computer presentation package has been experiencing a high level of returns owing to suspected software problems. 2. Based on closing inventory‚ inventory turned over
Premium Financial audit Employment Auditing
Noodle soup Vietnamese noodle soup‚ which is known as Pho‚ is a traditional dish of Vietnam. It includes noodles made from rice‚ beef or chicken‚ and is often served with fresh mint‚ cilantro‚ basil‚ lime‚ bean sprouts and peppers. Consumer can also order raw beef fillet with their soup. Pho is originated in the twentieth century‚ during the time Vietnam invaded by France. It is first appeared in southwest of Hanoi‚ in Nam Dinh Province. It is usually eaten at lunch or dinner. The soup is different
Premium Spice Vietnam