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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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