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
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Accounting Education: an international journal Vol. 20‚ No. 2‚ 203– 222‚ April 2011 Adding Value to Audit Education through ‘Living’ Cases JULIE DRAKE University of Huddersfield‚ UK Received: November 2009 Revised: July 2010 Accepted: September 2010 ABSTRACT This paper seeks to address the perceived failure of university teaching to foster critical understanding of audit practice and to identify a potential remedy. It contributes to the debate (Maltby‚ 2001‚ “Second thoughts about ‘Cases in
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theft. D. Expected effectiveness of controls. 13. The risk that an auditor’s procedures will lead to the conclusion that a material misstatement does not exist in an account balance when‚ in fact‚ such misstatement does exist is referred to as A. Audit risk B. Inherent risk C. Control risk D. Detection risk 14. Evidential matter concerning proper segregation of duties ordinarily is best obtained by A. Preparation of a flowchart of duties performed by available personnel. B. Inquiring whether
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WHITE PAPER A Practical Guide to Disaster Recovery Planning: The basics to getting started. Brace Rennels‚ Business Continuity published: March 2006 Executive Summary When you think about your disaster recovery plan‚ does your tape backup system come to mind? Does the mere mention of disaster recovery make you a bit nervous? If so‚ you’re not alone. Many businesses risk grave losses due to failures and disasters yet continue to depend on their tape backups to help them recover successfully
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* Subject Synopsis This course introduces the elements of auditing. It discusses the principles and procedures of auditing‚ types of audits‚ scope and objectives of auditing. It also covers professional ethics in auditing‚ audit evidences‚ audit planning and various other aspects of auditing. Moreover it gives knowledge about objectives of doing audit. The course also aims to explain the liability and responsibility of the auditor and how the computerised environment effects the business environment
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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
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DeLL Inc. | Strategic Audit | MAN 4720 – Strategic Management | | Group 7 | 3/31/2012 | Dell‚ Inc. Dell‚ Inc. is an American multinational computer technology corporation based in Texas‚ United States. The company develops‚ sells‚ and supports computers and related products and services. Dell Inc. is one of the largest technological corporations in the world‚ employing more than 103‚300 people worldwide. Dell is listed at number 41 in the Fortune 500 list (2011). It is the third largest
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Employer-Employee Relationship Quiz 1. Is Mary an independent contractor or an employee? Describe the factors that led to her determination. She is both‚ before she was in the contract she was an independent contractor and when she signed the contract she became an employee‚ when she was asked to leave she became an independent contractor. The aspects that lead me to accept as true that she became an employee is the sentence that states "Mary was asked to considered to continue with the company"
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moral recovery The moral recovery program is a program that encourages members of the public to live in a moral and correct way. The program does have religious connections‚ but is more about rebuilding a ’people nation’ and retaining a sense of community spirit. The moral recovery program takes place in the Philippines. Residents in the region are encouraged to get involved with the program. Those behind the program believe that if it is successful‚ it could cause reduced crime levels and an overwhelming
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Personal recovery refers to the efforts individuals go through in order to live a satisfying life‚ and involves gaining knowledge to self-manage an illness‚ regardless of the presence of recurring symptoms‚ and building a fulfilling life‚ which varies across individuals as recovery is a highly individualized process (Lemos-Giráldez et al.‚ 2015). Symptoms of psychosis can arise following drug misuse resulting in a diagnosis of drug-induced psychosis and can often leading to compulsory hospitalisation
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