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Cost and Authorization - Detailed audit of stock
Cost
A favor of the auditor this is restricted generally to determining the technique adopted through the organization in pricing stocks. The auditor weighs the appropriateness and acceptability of the policies adopted. Well the rest of the exercise is a mechanical exercise of testing to confirm about the technique adopted have been properly applied.
Authorization
Therefore the purchases cycle creates stocks, audit work of compliance tests, logical reviews and substantive tests in the area of buys rarely provide the auditor along with adequate evidence as just to authorization technique in obtaining stocks.
audit procedure for shares or common stock
Related Parties - Audit Evidence IAS 24 prescribes the disclosures essential to the possibility to draw attention which the financial position and loss or profit of an entity
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Communication with Expert Whether the auditor intends to utilize the work of an expert then he must communicate along with the expert well in advance to confirm the terms of e
Deposits and Share - Building Society Shares may make of subscription shares and paid up shares. Interest on shares might be credited to ensure specific control to the account
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discuss the factors affecting the sufficiency of audit evidence
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Ask qub) How might financial incentives in the form of client services unconsciously introduce auditor bias into the independent audit function? Give some specific real-life exampl
Assertions about disclosure Assertions about disclosure and presentation : a) Rights and Occurrence and obligations -disclosed transactions and events and other issues
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