1 audit working papers atty rheneir p mora, cpa managing partner r p mora & co. Petty cash audit procedures audit procedures for fixed assets what are the audit procedures for the sales & collection cycle what is a modified audit opinion logo return to top. Name accounts payable description test plan for trade accounts payable includes testing for completeness and cutoff objectives standard (non-it) audit program. Cash what are the audit procedures for the sales & collection cycle substantive audit procedures for accounts receivable audit objectives for sales cutoff. • understand the new fasb 95/cas230 cash flow ratios • draft meaningful footnotes and a relevant md&a section • perform substantive analytical procedures using.
Review cash disbursements journal subsequent to cut-off to determine if significant balances are subsequently paid consider performing this test in conjunction with search for unrecorded liabilities. A teaching case designed to integrate the electronic cash confirmation process into the auditing curriculum electronic cash confirmations, substantive tests of. Audit program for accrued liabilities legal company name client: workpaper reference liability is settled in a foreign currency) have also been accrued. Audit procedures are an important area of the syllabus, though candidates often use inappropriate audit procedures to answer questions example of substantive.
Assess control risk and plan tests of controls and substantive tests of transactions perform audit of cash integrated audit practice case can be used in one. Complete audit workpaper file complete the audit workpaper file and turn them in to be reviewed 2 complete bbp form audit program example format author: james. Earthwear hands-on mini-case chapter 16 - audit of cash has completed several of the audit steps in the substantive audit program for the cash account you will.
Chapter 6--audit evidence, audit objectives, audit programs and the resulting earnings and cash tests of transactions-are substantive tests that primarily. View zhengyuan 'alice' liang, cpa's profile on linkedin, the world's largest professional community zhengyuan 'alice' has 9 jobs listed on their profile see the complete profile on linkedin. Audit program for inventories and cost of sales legal company name client: balance sheet date: workpaper reference inventory observation procedures 1 meet with. #22- search for unrecorded liabilities how do we ensure that the company has accounted for the expenses incurred before year end and it should be recorded in the appropriate period if the expenses has not been billed by the suppliers. Walkthrough template lehman brothers b41 holdings inc workpaper significant risks or risks for which substantive procedures alone do not provide sufficient.
Auditing cash and cash equivalents reading material 1 i audit objectives for cash 1 a risk assessment for cash 1 b substantive procedure focus 1 c specific cash workpaper considerations 2 d other special issues concerning cash 3 1. See example workpaper ic 50/1 ii part 4: tests of controls and substantive tests of transactions 5 separation of duties in billing, recording, cash handling 6. For instance, all the activities relating to the processing of sales transactions, the billing of customers, and the collection of cash from the customers would be grouped in the revenue cycle the evaluation and tests of related control techniques and the substantive tests of sales transactions would be grouped together in a separate audit file. B series cash substantive workpapers c series accounts receivable substantive workpapers d series inventory substantive workpapers.
Ex of substantive analytics used would be identifying significant fluctuations in cash balances/differences between budgeted and actual levels of cash 2 substantive test of details for cash accounts. Substantive tests are the procedures by which auditors gather this evidential matter although the nature, extent, and timing of substantive tests is a matter of professional judgment,  substantive testing: cash, receivables, inventory and fixed assets | accounting, financial, tax. Some examples include aud-100 tailoring questions workpaper, kba-103 significant matters and aud-801 audit program - cash right-click on a related workpaper, and choose update to the latest knowledge coach content updated selected knowledge coach workpaper. Performed by workpaper reference 1 before commencing the assignment, the cpa should review the following materials provided by mhfa.
20 audit documentation of procedures performed, including tests of op- erating effectiveness of controls and substantive tests of details that involve inspection of documents or conﬁrmation should include the identifying charac. The workpaper is also incomplete in the following respects the workpaper does not state whether the auditor traced the ab c grocery remittance of p3,000 to november cash receipts the 2 credit memo 2) the workpaper does not state whether auditor examined the novembe issued to sari-sari stor 3) the workpaper does not state whether the auditor.