Get quote & make Payment
Forms of evidence, Auditing
Forms of Evidence
, is mostly witnessing internal book-keeping procedures and system control. It involves attendance at wages pay out. Observation of stock-take, opening of receipting and mail and issuing procedures on the stores warehouse.
: examining of physical assets to confirm their condition and their existence such an aid in determining their significance for accounts purposes. Perhaps it includes examining the records to ensure which internal control procedures have been carried out and book-keeping.
from independent third parties. These are obtaining bank letters, debtor's circulation, lawyer's letters etc.
Review of authoritative documents
: like as e.g title deeds, loan and share certificates, contract, leases, supplier's invoices, , internal sales invoices and minutes of board meetings.
from employees and management: This can be formal e.g. a letter of informal or representation for example replies to questions in questionnaires.
Satisfactory internal control
: Whether the volume of transaction is large for example sales, wages and salaries, purchases, receipts and payments so this may be the most require evidence.
Calculations performed through the audito
r: These provide him evidence of the correctness of many figures.
Review of post balance sheet events
: In most cases the final audit is performed well after the finish of the year and although the present is a function of the future many assertions can be verified through reference to subsequent events.
: Evidence confirming truth concern one item may confirm the truth regards another, for example verifying the expense rates confirms to several extent ownership and existence of the property.
Agreement along with expectation
: comparison and computation of ratios and absolute magnitude along with those achieved in the past, through other companies, or else budgeted can assist in confirmation. Inconsistencies, odd else abnormal or unexpected items also that can alert the auditor.
: The auditor has to consider external events in requiring his knowledge of current events to assist him in the assessment of such company's accounts. Therefore he must consider prevailing economic circumstances which affect his client; so he must consider the political legislation and situation also.
Posted Date: 1/24/2013 7:27:43 AM | Location : United States
Ask an Expert
Forms of evidence, Assignment Help, Ask Question on Forms of evidence, Get Answer, Expert's Help, Forms of evidence Discussions
Write discussion on Forms of evidence
Your posts are moderated
Write your message here..
All of the following must certify that a public company''s, All of the foll...
All of the following must certify that a public company's financial statements are accurate, complete, and not misleading, except for the Chief financial officer. Director of human
Checking consolidation papers, Checking consolidation papers The audito...
Checking consolidation papers The auditor pays particular attention to the calculation of: Goodwill arising on acquisition and consolidation Pre-acquisition and post-
Ias 27 - audit process, IAS 27 - Audit Process IAS 27 applies to the ...
IAS 27 - Audit Process IAS 27 applies to the presentation and preparation of consolidated financial statements for a group of entities within the control of a parent. It as w
Joint audit, Advantages and disadvantages
Advantages and disadvantages
Classification of management representations, Classification of Management ...
Classification of Management Representations The thing to note is which during the course of the audit the auditor obtains various representations from the management which ca
Evaluation of audit evidence, Question: "The planning, testing, and eva...
Question: "The planning, testing, and evaluation of audit evidence for indicia of fraud are unlikely to be successful without that attitude, particularly because fraud is a cri
Adjusting events - audit process, Adjusting Events - Audit Process Adj...
Adjusting Events - Audit Process Adjusting events are those such give evidence of conditions such existed at the balance sheet date as the settlement of a court case than the
How is a hospitality firm valued, Firm valuation refers to the total value ...
Firm valuation refers to the total value of a firm in the capital market. It is the stock price of a firm times its outstanding shares. Total value of a firm is also called market
Assignment , Length: 2000 words Submission method options Alternative submi...
Length: 2000 words Submission method options Alternative submission method Task Question 1 (5%) Case: Battersby and Associates Chartered Accountants is a successful mid-tier ac
AGENCY THEORY, The agency relationship between absentee owners and managers...
The agency relationship between absentee owners and managers produce a natural conflict of interest.what does it mean?
Accounting Assignment Help
Economics Assignment Help
Finance Assignment Help
Statistics Assignment Help
Physics Assignment Help
Chemistry Assignment Help
Math Assignment Help
Biology Assignment Help
English Assignment Help
Management Assignment Help
Engineering Assignment Help
Programming Assignment Help
Computer Science Assignment Help
IT Courses and Help
Why Us ?
~24x7 hrs Support
~Quality of Work
~Time on Delivery
~Privacy of Work
Human Resource Management
Literature Review Writing Help
Follow Us |
T & C
Copyright by ExpertsMind IT Educational Pvt. Ltd.