In the previous year, revenue of ABC Co was 230m dollars. Its revenue is 400m dollars for this year ended 31 December 20K1. ABC Co’s customers consist of 10 large ones and 60 small ones.

Additional informations:

- ABC Co manufactures cars.

- You are auditing ABC Co for the year ended 31 December 20K1.

Required:

Based on the information provided above, list all possible audit substantive procedures that the auditor could perform on the ABC Co’s revenue. (10 marks)

(10 procedures at least)

THE ANSWER MUST INCLUDE THE CALCULATIONS OR ANY RELEVANT CONCLUSIONS INFERRED FROM THE GIVEN FIGURES AND CONTEXT IN THE QUESTION ABOVE (OTHERWISE, NO MARKS ARE GIVEN)