Slide 1
Relationship Between Evidence Gathering Procedures
Relationship Between Tests of Controls and Substantive Tests of Transactions
Dual Purpose Tests
Relationship Between Substantive Tests of Transactions and Balances
Distinguishing Between Substantive Tests of Transactions and Substantive Tests of Balances
Financial Report Assertions and Substantive Audit Procedures
Assertions about Transactions and Events (Income Statement Accounts)
Assertions about Account Balances at Period End (Balance Sheet Accounts)
Existence/Occurrence and Completeness Assertions
Cash, Cash Receipts and Cash Payments: Assertions of Interest
Approach in Auditing Cash Balances
Assertions, Objectives and Procedures for Cash Receipts and Payments
Assertions, Objectives and Procedures for Cash
Cash – Key Procedures
Sales, Cash Receipts and Accounts Receivable
Accounts Receivable: Key Audit Procedures
Assertions, Objectives and Procedures for Sales
Assetions, Objectives and Procedures for Accounts Receivable
Accounts Receivable Confirmation and other Procedures
Format of Positive Accounts Receivable Confirmation Requests
Confirmation Procedure Versus Subsequent Cash Receipts Testing
Purchases and Inventory
Risk Assessment of Inventory
Inventory: Assertions of Interest
Inventory: Key Procedures
Assertions, Objectives and Procedures for Purchases
Assertions, Objectives and Procedures for Inventory
Inventory — Observation of Physical Inventory: Stocktake
Inventory: Tests of Pricing and Summarisation of Count Procedures
Accounts Payable and Payments
Slide 32
Assertions, Objectives and Procedures for Accounts Payable
Non-Current Assets
Property, Plant and Equipment
Property, Plant and Equipment: Key Procedures
Assertions, Objectives and Procedures for Property, Plant and Equipment
Investments and Intangible Assets
Assertions, Objectives and Procedures for Investments
Intangibles – Use of Experts
Investments and Intangibles: Key Procedures
Non-Current Liabilities and Owners’ Equity: Key Procedures
Assertions, Objectives and Procedures: Non-Current Liabilities
Income Statement Accounts: Assertions of Interest
Audit Procedures for Income Statement Accounts
Auditing by computer: Testing clients’ files
Functions of Audit Software
Auditing by Computer: Four Major Techniques