Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Describe substantive procedure the auditor should perform to obtain sufficient and appropriate audit evidence in relation Danube Cos land and building. (5) Describe the procedures

  1. Describe substantive procedure the auditor should perform to obtain sufficient and appropriate audit evidence in relation Danube Cos land and building. (5)
  2. Describe the procedures the auditor should perform in relation to the exceptions noted during the trade receivables circulation in respect of Nile Co and Congo Co. ( marks will be split equally between each customer) (5)
  3. Describe substantive procedures the auditor should perform to obtain sufficient and appropriate audit evidence in relation to the PROVISION and RECEIVABLE arising from the sale of defective goods. (5)
  4. The audit engagement partner has determined that the issue relating to the provision and receivables arising from the sale of defective goods should be communicated as a key audit matter (KAM), in accordance with ISA 701 communicating Key Audit Matters in the Independent Auditors Report.
  1. Describe the factors which the audit engagement partner would have considered in determining xthat this issue is a KAM; and (5)
  2. Describe the content of the KAM section of the auditors report for Danube Co. (5)

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

More Books

Students also viewed these Accounting questions

Question

What is a border router?

Answered: 1 week ago