State about walk-through tests - auditor, Financial Management

Assignment Help:

Walk-through tests - Auditor

• "Walk-through tests" -That is tracing one or more transactions by accounting system and observing application of internal controls.

Review of prior year file and previous experience of reliability of system.
Review of procedures manuals and systems descriptions.
Enquiry of management and personnel.
Examine documents / records produced by systems.
Observation of the activities and operations, including IT function and the nature of transaction processing.

Related Discussions:- State about walk-through tests - auditor

State the advantages of ias 14 risk and return approach, IAS 14 "risk and r...

IAS 14 "risk and return approach" Advantages Highlights the profitability, risk and returns of each segment. Information is more comparable with other entities.

Caselet, suggestion regarding credit limit. should it be approved or not wh...

suggestion regarding credit limit. should it be approved or not what should be the amount of credit limit that electronics give to booth plastics

Find out weighted average cost of capital, The Beta Corporation has an opti...

The Beta Corporation has an optimal debt ratio of 40%. Its cost of equity capital is 12% and its before-tax borrowing rate is 8%. Given a marginal tax rate of 35%, calculate (

Determine in brief about venture capitalists, Determine in brief about Vent...

Determine in brief about Venture capitalists Venture capitalists are organisations which take on risky business ventures. They provide finance for and generally require a high

Yield curve strategies, Yield curve strategies take into account the ...

Yield curve strategies take into account the distribution of the maturities of the bonds of the portfolio in order to take advantage of the forecasted movements o

Integration of economic, a) Globalisation refers to the interdependence and...

a) Globalisation refers to the interdependence and integration of economic, social and politic issues (services, goods, people and capital), across the world. For example, consumer

Why use the modified du pont system to calculate roe, Why would an analyst ...

Why would an analyst use the Modified Du Pont system to calculate ROE when ROE may be calculated more simply? Explain. In fact, an analyst would not use the Modified Du Pont equ

Monte-carlo simulation, Monte-Carlo Simulation Let us, for a shortwhil...

Monte-Carlo Simulation Let us, for a shortwhile, leave the illustration for determining the price and consider a simpler illustration for understanding the Monte-Carlo method

Purposes of accounting, explain accounting purposes

explain accounting purposes

Normal spread, After the calculation of cash flow yield and the...

After the calculation of cash flow yield and the average life of the asset-backed and mortgage-backed security based on default, prepayment and recovery ass

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages