Audit Procedures 1. Conduct some preliminary research to determine and discuss the difference between an interim audit and a final audit of financial statements. Include in your discussion of no more than 350 words, how the work performed during the interim audit affects the work performed during the final audit. 2. You are the senior auditor in charge of the interim audit of Kool Mood Hotel. You have already performed tests of controls and determined that controls over recording purchases, stock movements and updating purchases and creditors' ledger are operating effectively. You have tasked Tom Allen, a junior associate with designing the audit programme for the purchases and payables area of the audit. Tom has designed the programme below: Purchases Interim Audit Cheque Payments Select a sample of cheque payments for purchases of food items and perform the following tests Procedures 1. Agree to invoices for good received. 2. Agree to good received notes. 3. Check mathematical accuracy of invoices. Obtain the purchase day book and perform the following: Purchase Day Book 1. Select entries at random and examine invoices and credit notes for price, calculation and authorization. 2. Check posting of entries to the general ledger. Audit Procedures 1. Conduct some preliminary research to determine and discuss the difference between an interim audit and a final audit of financial statements. Include in your discussion of no more than 350 words, how the work performed during the interim audit affects the work performed during the final audit. 2. You are the senior auditor in charge of the interim audit of Kool Mood Hotel. You have already performed tests of controls and determined that controls over recording purchases, stock movements and updating purchases and creditors' ledger are operating effectively. You have tasked Tom Allen, a junior associate with designing the audit programme for the purchases and payables area of the audit. Tom has designed the programme below: Purchases Interim Audit Cheque Payments Select a sample of cheque payments for purchases of food items and perform the following tests Procedures 1. Agree to invoices for good received. 2. Agree to good received notes. 3. Check mathematical accuracy of invoices. Obtain the purchase day book and perform the following: Purchase Day Book 1. Select entries at random and examine invoices and credit notes for price, calculation and authorization. 2. Check posting of entries to the general ledger