CHAPTER 6 Audit Evidence |Learning Check | 6-1. a. Audit evidence is all the information used by the auditor in arriving at the conclusion on which the audit opinion is based. Audit evidence includes (1) the accounting records underlying the financial statements and (2) other information that corroborates the accounting records and supports the auditor’s logical reasoning about fair presentation in the financial statements. b. Any information that is obtained
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Audit Working Papers Presented By: Kanza Masood Presented To: Miss Iram Butt Semester: Semester 6 Date: 18th Feb’13 Course: Audit Internal Control ------------------------------------------------- Audit working papers Audit working papers are the documents which record all audit evidence obtained during financial statements auditing‚ internal management auditing‚ information systems auditing‚ and investigations. Audit working papers are used to support the audit work done in order to provide assurance
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CONDITION TABLE ASSIGNMENT #3 CONDITION | DEFINITION | SIGNS & SYMPTOMS | DIAGNOSTIC TESTS | 1. Diabetic Retinopathy | A damaged blood vessel of the retina. This is caused by diabetes. | Blurred vision‚ slow vision‚ shadows or missing areas of vision‚ and trouble seeing at night. | Dialation of the pupils with eye drops and then carefully examining the retina. | | 2. Meniere‚s Disease | An inner ear disorder that affects balance and hearing. | Drop in hearing‚ pressure in the ear
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cause the audit team to have substantial doubt about Fast Go ability to continue as a going concern‚ what is the next step the audit team needs to perform? The next step that the audit needs to perform are‚ the audit team must seek information about management’s plans to mitigate all the problem that Fast Go suffer for example the debt‚ the competition and etc. Besides‚ the audit team also must assess the likelihood that such plans can be successfully implemented. Furthermore‚ the audit team also
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In Crazy Eddie Case‚ a former CPA‚ Sam E. Antar‚ was a key individual who helped Eddie Antar mastermind one of the largest securities frauds uncovered during the 1980s. Sam admitted that he had no empathy whatsoever for investors because he never concerned about morality or the suffering of those victims. Next I’ll analysis Crazy Eddie Case from ethical perspective and use Ethical Decision Making Model to evaluate Sam’s possible behaviors. 1. Frame the ethical issue: Should Sam join his cousin
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Example: Audits of Financial Statements‚ Examinations of Internal Control Other Assurance Services Example: CPA ElderCare Prime Plus Services NonAssurance Services Tax Services Management Consulting Services Other Notes: Reliability reduces information risk. Attestation Services To attest to information means to provide assurance as to its reliability Attest engagement: A practitioner is engaged to issue or does issue an examination‚ a review‚ or an agreed-upon procedures report on
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Training Material on Internal Auditing Internal Auditing Handbook 1 Session 1 – External Audit........................................................................5 1.1 Definition and Objective.....................................................................5 1.2 Responsibilities of External Audit ......................................................5 1.3 Scope of the Audit .............................................................................6 1.4 Auditor’s Report Basic
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execution of the strategy at various stages First you have to decide how you are going to tackle the audit. That’s the big picture. It could be that you decide there are no good internal controls. Your strategy would then be to not do any TOCs and concentrate on substantive procedures. Having decided that then you have to plan how you will use substantive procedures to get sufficient appropriate audit evidence. If your strategy is not to do any tests of control‚ then the detailed plan will take that
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| |BSBMKG301A |Research the market | |BSBMKG302A |Identify marketing opportunities | OHT 1.2 DEFINITIONS |Selling |If your company creates a product or service‚ and then tries to persuade customers to buy it‚ that | |
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when performing an audit. This responsibility is defined in International Standards on Auditing and enforced through legislation in national jurisdictions. This report identifies the factors that should be of consideration when deciding on the appropriate level of responsibility auditors’ should have to detect corporate fraud. There are various limitations inherent in audits that should be taken into account‚ as they hinder fraud detection which is why even though an audit may be performed properly
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