AUE3702 Substantive Procedures and Finalising an Audit (AUE3702)

AUE3702 ASSIGNMENT 1 AUE3702 ASSIGNMENT 1 SEMESTER 1

Learning Unit 1 Learning Unit 1.1 - The theory of audit evidence – ISA 500 1.1.2 Where to look for audit evidence: (a) Accounting records – The records of initial accounting entries and supporting records, such as checks and records of electronic fund transfers; invoices; contracts; the general and subsidiary ledgers, journal entries and other adjustments to the financial statements that are not reflected in journal entries; and records such as work sheets and spreadsheets supporting ...

AUE3702 LATEST EXAM PACKTABLE OF CONTENTS JUNE 2013-2017 NOV 2013-2017 Explained notes

SUBSTANTIVE PROCEDURES AND FINALYSING AN AUDIT (AUE3702) Activity 2.2.1 Audit functions to be performed using data CAATs Example of a substantve procedure that can be performed with the use of data CAATs in a payroll and personnel cycle Sorting Use CAAT to sort employee according to grades in the employee Masterfile. Compare the job grades and wage rate in the personnel file Extracting samples Use CAAT to extract a sample gross salary from the employee Masterfile and confrm that th...

AUE3702 assignment 2 2021. Substantive Procedures And Finalising An Audit. Activity 2.1.1 1) Comments on the Junior trainee’s understanding of the assertions Trade receivables Existence the period is not mentioned and readers would not be able to understand which date the junior trainee is referring to 1½ Accuracy She did not include measurement in her statement since the accuracy of an amount needs to be measured to ascertain the amount. She did not also include valuation and alloca...

CONTENTS OCT/NOV 2014………………………………………………..3 MAY/JUNE 2015………………………………………………9 OCT/NOV 2015………………………………………………..14 AUE 3702 OCT / NOVE 2014 Part A 1. Substantive audit procedures to audit the opening balance for inventory - Inspect minutes / enquire from management in respect of inventory given as a security - Test the classification of inventory in the financial statement - Ensure WI...

Learning Unit 1 Learning Unit 1.1 - The theory of audit evidence – ISA 500 1.1.2 Where to look for audit evidence: (a) Accounting records – The records of initial accounting entries and supporting records, such as checks and records of electronic fund transfers; invoices; contracts; the general and subsidiary ledgers, journal entries and other adjustments to the financial statements that are not reflected in journal entries; and records such as work sheets and spreadsheets supporting ...

ORIENTATION AND LEARNING APPROACH iv TOPIC 1: Audit evidence 1 LEARNING UNIT 1.1: The theory of audit evidence (ISA 500) 2 LEARNING UNIT 1.2: Relying on information produced by a management’s expert (ISA 500) 7 LEARNING UNIT 1.3: Using the work of an auditor’s expert (ISA 620) 9 LEARNING UNIT 1.4: Using the work of internal auditors (ISA 610) 12 LEARNING UNIT 1.5: Initial engagements: opening balances (ISA 510) 15 LEARNING UNIT 1.6: Accounting estimates including fair value account...

TOPIC 1 Audit evidence L Ferreira Topic overview An audit opinion must be substantiated by sufficient appropriate audit evidence. In this topic we are going to look at what is meant by the term “sufficient appropriate audit evidence”. In addition we will look at the different forms of audit evidence and special considerations: for example evidence produced by experts, the internal auditors, opening balances and the accounting estimate. We will look at how audit evidence can be select...

AUE3702: SUBSTANTIVE PROCEDURES AND FINALISING AN AUDIT ASSERTIONS: Think of assertions as characteristics, qualities that things have to possess in order for them to belong on AFS All assertions: Accuracy (correct amounts recorded) Completeness (nothing has been left out)