The audit program for the Revenue account for a client has been drafted. The following item appears:

Question:

DETAILED AUDIT PROCEDURE Select a sample of sales invoices recorded a few days prior to the year end and then agree date

Required

(a) Does the procedure address the stated assertion? Explain.

(b) If your answer to (a) is no, provide the correct assertion or explain what work would be required to address the assertion.

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Auditing A Practical Approach

ISBN: 978-1118849415

2nd Canadian edition

Authors: Fiona Campbell, Robyn Moroney, Jane Hamilton, Valerie Warren

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Question Posted: Apr 05, 2019 11:51 AM

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The audit program for the Revenue account for a client has been drafted. The following item appears:

Question:

DETAILED AUDIT PROCEDURE Select a sample of sales invoices recorded a few days prior to the year end and then agree dates on the invoices to the dates | on the delivery documents signed by the customer. ITEM ASSERTION Cut-off 2.

Step by Step Answer:

a Cutoff assertion relates to claims by management that sales revenue has been recorded in the corre...View the full answer

Auditing A Practical Approach

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