Question
Audit Procedures a b TOC SToT Objectives 1. Examine documents in the Voucher package to make sure there is an approved PO, RR and Vendor
Audit Procedures a b
TOC SToT Objectives
1. Examine documents in the Voucher package to make
sure there is an approved PO, RR and Vendor Invoice
2. Tracing from Purchase Journal to the Voucher
package and compare the vendor name, amount
and date and evaluate at eh reasonableness of
the account classification
3. Examine folder containing RR to determine whether
each one has a copy of Vendor Invoice attached
4. Select a random sample of cheque numbers and
trace each cheque to the Cash Disbursement Journal,
and compare the name, amount and date
5. Randomly choose a sample of purchases and cash
disbursement transactions and trace each one to the
AP Sub ledger and compare the name, amount and
date of each transaction
6. Examine a sample of Purchase Returns for the
initials for authorization and initials indicating internal
verification of the unit costs and comparison of the P
Returnto the related RR.
7. Mood a proof of Cash Disbursement for the month of May
8. Check the sequence of copies of cheques and examine
each one for the evidence of authorization for the payment
REQUIRED
For each audit procedure state
a. What is its primary test: a TOC or a SToT?
b. What are its audit objectives?
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