AUE3702 Substantive Procedures and Finalising an Audit (AUE3702)

TOPIC 2 SUBSTANTIVE PROCEDURES: THE CONCEPTS LEARNING UNIT 2.1 PRINCIPLES IN FORMULATING SUBSTANTIVE PROCEDURES REFLECTAND DISCUSS: → Yes, I am able to differentiate between transactions and balances. → No I do not know the assertions off my heart for transactions or events, or for account balances, I will need to spend more time on studying and learning them to ensure I know them very well for the examination. → I know most of them off by heart but will require more time in study...

AUE3702 assignment 2 2021. Formulating substantive procedures for revenue (sales) transactons for the year under audit Occurrence Trace a sample of recorded sales transactions from the sales journal and general ledger and; Inspect the customer order for the invoice to confirm that the sales were received from an approved customer Compare the picking slip signed by the picker and the delivery note signed by the delivery clerk and the customer with the invoice to see if the sales recorded m...

AUE3702 EXAM PACK. AUE3702 - Substantive Procedures And Finalising An Audit. Audit the bank reconciliation at 30 June 2015 - Agree the cashbook balance of to cash book - Agree the balance per bank statement of to the bank confirmation letter and cut off bank statement - Follow outstanding cheques specifically (cheque13521) through to cash back before year end - Agree the amount of 1455 698 - Agree the date as 30 June 2015 - follow outstanding deposits on the reconciliation (specificall...

AUE3702_ SUMMARY AND EXAM NOTES. Substantive Procedures And Finalising An Audit. Collecting Audit Evidence: Inspection A14. Inspection involves examining records or documents, whether internal or external, in paper form, electronic form, or other media, or a physical examination of an asset. Inspection of records and documents provides audit evidence of varying degrees of reliability, depending on their nature and source and, in the case of internal records and documents, on the effectivene...

AUE3702 LATEST EXAM PACK 2021. Substantive Procedures And Finalising An Audit. Review the procedures performed by management to identify events after the balance sheet date. (1½) 2. Inspect minutes of the shareholders, board of directors, audit committee and board committee meetings, for the period after year-end, and enquire on relevant matters where the minutes are not available. (1½) 3. Review the latest interim financial statements, budgets, cash flow forecast, management reports etc ...

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 ...