ACA Assurance Exam Questions With 100% Correct Answers

ACA Assurance Exam Questions With 100% Correct Answers What's in an audit strategy - answer- broad scope - understand the entity - understand the accounting systems and internal control systems - identifying risk and setting materiality - nature, timing and extent of resources necessary - mgmt, direction and supervision of audit team Audit plan - answer- more detailed - nature, timing and extent of the specific audit PROCEDURES required for material issues - ensure appropriate attention is devoted to important areas of the audit - identify potential problems and resolve - ensure work is properly organised and managed (incl assign work to team members & facilitate supervision) Revenue system - answer1. ordering 2. despatch and invoicing 3. recording 4. cash collection Purchase system - answer1. ordering 2. goods received and invoiced 3. payment Payroll system - answer- calculating wages and salaries - recording - payment What