iwrongdoing iOn ithe iother ihand, ithe iselected isample iis ithe iitems iwith ilarge ivalue iand imakes iup ithe imajority iof ithe ioverall ivalue iand iignores iother iitems iThis icould ipotentia.
wrongdoing iOn ithe iother ihand, ithe iselected isample iis ithe iitems iwith ilarge ivalue iand imakes iup ithe imajority iof ithe ioverall ivalue iand iignores iother iitems iThis icould ipotentially ilead ito ithe iomission iof ipotential ierrors iin iomitted iitems i 3.1 Recommendations for improving the audit of accounts payable in financial audits process conducted by ASIAN AUDITING COMPANY LIMITED i i i i i i i i i i i i i i i i i In ithe icurrent imarket ieconomy iconditions, iindependent iaudit ibecomes ian ieffective ieconomic imanagement itool ithat irequires iconstant iefforts iof iaudit ifirms iTherefore, iin iorder ito iimprove ithe iquality iof ithe iaudit, ipromote ithe idevelopment iof ithe ieconomy iin igeneral ias iwell ias iaudit iactivities iin iparticular, ithe icompany ifocuses ion iits imanagement iand ioperations, ispecifically: a) About the customer's Internal Control system: i i i i i The ievaluation iof ithe iinternal icontrol isystem iis ivery iimportant, iit ihelps ithe iauditors ito ihave ithe icorrect iinitial iview iof ithe iclient's icompany iCurrently, ithe iASA iis iapplying ithe iquestionnaire iform iThe iuse iof ithe iquestionnaire iis iquite iquick iand iconvenient, ibut ithere iare isome irigidities isuch ias ibeing iuniversally idesigned ifor iall icustomers, iso iit iis inot iflexible, iand ithe iaccuracy iof ithe ianswers idepends ion ihonesty, icooperation iof ithe iinterviewee iThe ievaluation iof ithe iinternal icontrol isystem iis ibased ion iyes/no iquestions, idepending ion ithe isubjective iopinion iof ithe iperforming iauditor iTherefore, ithe icompany ishould iconduct iscoring ifor ieach iquestion iin ithe iquestionnaire, ifrom iwhich, iset ithe iscale ias ihigh/medium/low iClosed iquestions ioften ido inot icollect ienough iinformation, iauditors ishould iask iopenended iquestions ifor irespondents ito ianswer ifor ithemselves isuch ias: i“How iwas ithe ipurchasing iprocess idone? i“How iare iliabilities irecorded?”; i… iWith iopen-ended iquestions, ithe iauditor iwill icollect imore icomplete iinformation In iaddition ito ithe iquestionnaire, ithe icompany ishould icombine ithe iuse iof inarrative itables, iusing iflowcharts ito iincrease ithe iefficiency iof ithe iwork iof iunderstanding ithe iinternal icontrol isystem iOf ithe ithree imethods iabove, ieach imethod ihas iits iown iadvantages iand idisadvantages iThe imethod iof ievaluating ithe iinternal icontrol isystem iaccording ito ithe inarrative itable ihas ithe iadvantage iof icollecting ithe inecessary iinformation, ibut ithe imonitoring iis iquite icomplicated iFlowchart idrawing imethod ihelps ireaders ihave ian ioverview iof ithe irelationship ibetween iparts, idocuments, ieasy ito ifollow, i iInternal icontrol isystem iof icustomers iis iusually ishown ithrough ithat