Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

Part A (5 marks) You have obtained an understanding of the audit client's internal controls but noticed the following internal control weakness: The clerk

 image text in transcribed 

Part A (5 marks) You have obtained an understanding of the audit client's internal controls but noticed the following internal control weakness: The clerk was not aware of the recent change in selling prices. Accordingly, incorrect price was used on sales invoices for billing to customers. Required: a. What is the primary control activity that was absent? (1 marks) b. What is the assertion that has not been met? (1 marks) c. Recommend an internal control to rectify the above weakness. (3 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Sure lets address each part of the question Part A a What is the primary control activity that was ... 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

Auditing And Edp

Authors: Gordon B Et Al Davis

2nd Edition

9993191930, 978-9993191933

More Books

Students explore these related Accounting questions