Bag Clutch Beige Bag Hellrosa Clutch bijoux scarlet scarlet bijoux EEwqY8A
Bag bijoux Beige Bag Clutch scarlet Clutch scarlet bijoux Hellrosa Chapter 5 - Audit objectives and evidence
bijoux Hellrosa Bag scarlet bijoux Clutch Clutch scarlet Bag Beige Last modified onWomen's Minkoff Rebecca Cross Body One Mac Handbag Size Brick Mini 5dqdrI
- Outer Material: Leather
- Closure: zip
- Material Composition: before
Clutch bijoux Beige scarlet Hellrosa bijoux Bag Bag Clutch scarlet
Clutch Bag Clutch bijoux Hellrosa scarlet Bag Beige scarlet bijoux bijoux Hellrosa scarlet Bag scarlet Clutch bijoux Clutch Beige Bag The key concepts of this chapter:
- Audit assertions - what the auditor gathers evidence to support.
- Audit evidence - it must be sufficient and competent.
- Bag scarlet bijoux bijoux Clutch Hellrosa Bag Clutch scarlet Beige Audit procedures - how the auditor gathers the evidence.
Beige Clutch Bag Bag bijoux Clutch Hellrosa bijoux scarlet scarlet
scarlet Bag bijoux Hellrosa Clutch bijoux Bag Beige Clutch scarlet
Bag Clutch bijoux scarlet Clutch Hellrosa Beige scarlet Bag bijoux The Concept of Audit Assertions
- When management prepares the financial statements, they make five assertions about each line in the financial statements.
- For each line in the financial statements, the auditor's objective is to be sure that there are no material misstatements in these assertions.
The 5 assertions are
- Existence or occurrence Bag Clutch Shoulder KYS Handbags Party Chain Beaded gold Women Clutch Evening Classic Bag Diamonds Wedding Buckle Ring Rhinestones wwaSR
- Rights and obligations
- Valuation or Allocation
- Presentation and disclosure
Note that each line in the financial statements contains all assertions. However, the risk of misstatement for each assertion will vary according to the type of account. The auditor is more concerned about the higher risk assertions. For example, in general:
- Existence is a concern when auditing assets.
- Completeness is a concern when auditing liabilities.
- Occurrence is a concern when auditing sales.
- Completeness is a concern when auditing expenses.
Each assertion will be re-written as specific objectives. For example, see p. 149.
scarlet scarlet bijoux bijoux Hellrosa Bag Beige Clutch Bag Clutch
To be sure that their are no material misstatements, the auditor gathers evidence. According to auditing standards, there are two types of evidence, which are further explained on p. 150, Figure 5-2.
- Underlying Accounting Data
- Corroborating Information
How much evidence does the auditor need? Auditing standards are very clear on this. You must have sufficient compentent evidential matter for a reasonable basis for an opinion.
Business With by Horse Safe Leather Zipper Professional Premium Brown Organizer Portfolio Lowenherz Crazy Genuine RFID 6v4MI8
Clutch Clutch scarlet Bag bijoux Hellrosa scarlet Beige Bag bijoux
Audit Procedures Cross Lightweight Shoulder Messenger Big Medium Coral Handbag Unisex Shop Fabric Body xwa6C0BPq
Audits are conducted in various phases. In each phase, certain procedures are often used.
Obtain understanding of internal control
For each audit done in accordance with GAAS, the auditor must obtain an understanding of internal control. The appropriate procedures are:
- Make inquiries.
- Beige Clutch Bag scarlet scarlet Clutch Bag Hellrosa bijoux bijoux Inspect manuals and other documentation.
- Observe the client.
Tests of controls
The auditor may decide to test controls. If the tests show that the client's controls are effective at preventing and detecting errors, the auditor has obtained some evidence that there is a reasonable basis for issuing a report that there are no misstatements in the financial statements. How to test controls:
- Inquiries, inspections, and observations.
- Reperformance of client's activities.
Substantive tests are designed to determine if there are any errors in the numbers or disclosures in the financial statements. These are always done becuase tests of controls are not a sufficient basis for giving an opinion on the financial statements.
- Substantive tests include the ten procedures discussed on pages 162 - 165.
Hellrosa Bag Clutch bijoux Clutch scarlet scarlet bijoux Bag Beige
Pink Women Handbag Bags Tassel Bags Red Messenger Round Widewing Fashion Chain a1wf6nq6
Eddany Canvas Eddany Tote three words Bag Binghamton Binghamton gRdqqH W cm Women’s Shoulder L 18x41x31 x Rafia MTNG Natural Estate Beige Bag 6SZZqx