Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

3. State appropriate audit procedure for the following. Problem Type of Test Name of the Particular |(Test of Test Control/Substantive) 1. The auditor has a

image text in transcribed

3. State appropriate audit procedure for the following. Problem Type of Test Name of the Particular |(Test of Test Control/Substantive) 1. The auditor has a doubt that the total of debtors' amount was overstated. In order to verify the assertion, he compares the total debtors with other relevant information from financial statements. 2. To collect evidence on a suspicious purchase transaction and to confirm whether or not the transaction has been properly processed and recorded in the books of accounts. 3. To test whether the total amount of fixed assets is correct by verifying the schedule of fixed assets. 4. To verify whether the payments for expenses above certain limit are made according to the procedures laid down in the rules and guidelines. 5. The auditor is suspicious about the balance of a particular customer's account and wants to verify the same, (7.5 Marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Statistical Analysis Microsoft Excel 2010

Authors: Conrad Carlberg

1st Edition

0789747200, 9780789747204

More Books

Students also viewed these Accounting questions