Question
REQUIRED: Place the following in the order they would be performed during an audit. A: Compare the ending balance of accounts payable with those of
REQUIRED: Place the following in the order they would be performed during an audit.
A: Compare the ending balance of accounts payable with those of previous years.
B: Inquire with management about the financial reporting framework that they apply.
C: Perform a transaction walkthrough.
D: Undertake research to learn about the key drivers of performance for the industry in which the client operates.
E: Write a letter to the board of directors in which you identify some weaknesses in their firms internal controls.
F: Inspect a sample of shipping notes to determine whether or not they were authorised.
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