(for trade receivable confirmation) 7. representation letters 8. checklists 9. correspondence concerning significant matters 10. copies: entity’s records‚ e.g. contracts‚ agreements Form‚ content 1. using standard schedules‚ computer program standard audit program standard internal control questionnaire standard audit file structure Permanent file * document continuous important materials‚ info relevant to audit entity’s financial statements 1. permanent file
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on selecting the relatively large items in the population for testing. 3. What is the key advantage and disadvantage associated with systematic sample selection? How must auditors address this disadvantage? Ans: The key advantage is its ease of use. Generally‚ systematic samples are easily drawn from the population and supporting documentation is easily developed. The key disadvantage is the potential for bias. Once the first item in the sample is selected‚ all other items are chosen automatically
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Dept of Computer Science‚ University of Jaffna. Table of Contents Computer Fundamentals Introduction to Computers A computer is a man-made‚ programmable electronic machine that can store‚ retrieve‚ and process data according to a given set of instructions. Whatever information given to a computer is termed input. The computer input typically comprises of two things: Data and Instructions. The data are the facts‚ which are to be processed‚ and the instructions describe how the computer should
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Mandaue City‚ Cebu AUDITING THEORY AUDITING IN A COMPUTER INFORMATION SYSTEMS (CIS) ENVIRONMENT Related PSAs/PAPSs: PSA 401; PAPS 1001‚ 1002‚ 1003‚ 1008 and 1009 PSA 401 – Auditing in a Computer Information Systems (CIS) Environment 1. Which statement is incorrect when auditing in a CIS environment? a. A CIS environment exists when a computer of any type or size is involved in the processing by the entity of financial information of significance to the audit‚ whether that computer is operated by the
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systems‚ houseplant and yard watering‚ pet feeding‚ changing the ambiance "scenes" for different events (such as dinners or parties)‚ and the use ofdomestic robots. Devices may be connected through a computer network to allow control by a personal computer‚ and may allow remote access from the internet. Through the integration of information technologies with the home environment‚ systems and appliances are able to communicate in an integrated manner which results in convenience‚ energy efficiency
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example‚ an interested customer goes onto the Internet‚ prices and orders a computer customized with a desired set of components‚ and two to three days later it is delivered right to their doorstep. Due to the seamless nature of the ordering and delivery process‚ the customer fails to notice the tremendous undertaking of coordinating with different suppliers‚ meeting demands of its customers‚ assembling a built-to-order computer for each customer‚ and even efforts involved in delivery of the product
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products‚ according to Startup Biz Hub. In traditional media‚ the companies passively convey the advertisement to the target and have difficulties in collecting feedbacks from the customers instantly. Nonetheless‚ advertising on internet especially through
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Process Of Auditing‚Auditing Vs Investigation INTRODUCTION: Introduction to auditing: Economic decisions in every society must be based upon the information available at the time the decision is made. For example‚ the decision of a bank to make a loan to a business is based upon previous financial relationships with that business‚ the financial condition of the company as reflected by its financial statements and other factors.As a result the bank has lost both the principal and the interest
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Unit 5 GEL Assignment – The Scientific Method Refer to Chapter 11 of the textbook‚ Objective Question 11-38. Assume that fraud has been discovered in the “Possible Errors and Fraud” list‚ shown as A through O in the problem. Select two of the fraud items from the list and note them here: Fraud Item #1 Invoices for goods sold are posted to incorrect customer accounts. Fraud Item #2 Invoices are sent for shipped goods and are recorded in the sales journal‚ but are not posted to any customer
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Unit 11639 Assessment Apply Consumer legislation to a given fact situation Navi Student ID: Due Date: 5th Aug 2013 Assessment Part 1: Apply selected provisions of the Fair Trading Act 1986 to a given fact situation. 1a) The fair trading act in 1986 defend consumers by prohibiting dishonest or deceptive conduct in trade. It requires that all trading activities are based on right and true information. In this case‚ under the defences available in the act‚ he was not
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