🏷️ LIMITED TIME OFFER: GET 20% OFF GRADE+ YEARLY SUBSCRIPTION →
Log in
HomeStudy Guides420,000CA160,000

ADMS 4552 : Chapter 6 notes.docx

72 views1 pages
School
York University
Department
Administrative Studies
Course
ADMS 4552
Professor
N A

For unlimited access to Study Guides, a Grade+ subscription is required.

Document Summary

Inspection - physical examination: verifying that the asset actually exists, the quality and description, not sufficient for the rights and obligations objective. Documentation - object has no inherent value. Observation - use senses to assess activities (tour the plant, watch people perform tasks) Analytical procedures - comparisons and relationships between financial and non-financial information. Integrated test facility - test environment that does not affect client records. Generalized audit software - package used by auditor to run routines. Internal documentation - used and retained within the client s organization without ever going to an outside party. External document - vendor invoice, etc. currently in the hands of the client or is easily accessible.

Get access

Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers

Related Documents

BU547 Lecture Notes - Lecture 8: Credit Manager, Audit Evidence, Income Statement
turquoisewasp140
ACCG340
Final Exam
Study Guide
ACCG340 Study Guide - Final Guide: Audit Evidence, Direct Bank, Audit Risk
scarletsquirrel639
ACC 521
Final Exam
Study Guide
ACC 521 Study Guide - Audit Evidence, Audit Risk, Internal Audit
mauvetiger832

Related Questions

During year 1 audit of Cellenting Co., the auditor performedvarious procedures relating to inventory. Match each of thedescriptions provided below with the appropriate auditprocedure.

Analyticalprocedure
• Externalconfirmation
• Inquiry
• Inspection ofrecords or documents
• Inspection oftangible assets
• Observation
• Recalculation
• Reperformance
Auditing procedures:

1) As an auditor, how would you verify adequacy of accumulated depreciation?

2) A client found that land and buildings have been revalued during the year. What procedures would an auditor perform to verify the revaluation?

3) When auditing for many years, should auditors use the same audit procedures every year? Why or why not?

4) How can an auditor introduce unpredictability in his audit procedure?

5) Auditing procedures generate evidence for the auditor. Compare and contrast the evidence generated by the following seven types of auditing procedures: Inquiry, Observations, Examination of documentation, Confirmation, Physical examination, Reperformance, Analytical procedures, and Recalculation.

For which of the following audit procedure would sampling bemost appropriate? a. Analytics b. Inquiry c. Confirmation d.Observation