Auditing. Please write use own sentence List ( 6 ) six Elements of Test of Control and Substantive Test in Purchase Cycle System and explain in long explanation that commonly can found in wine company ; examples points and long explaination

Q: Auditing . Please use own sentences Briefly discuss and explain substantive test under Purchase…

A: Audit: An Audit is a systematic examination of books of accounts. It is done by a professional…

Q: The history of Benford’s Law The application of Benford’s Law to auditing and accounting When to use…

A: The history of Benford’s Law The history of Benford’s Law is a bit of a mystery. The first person to…

Q: You are developing the policies and procedures in relation to credit sales. What processes would you…

A: Payments for credit sales are made several days or weeks after a product is delivered. In contrast…

Q: What terms that must be included in the document prepared by the client

A: Engagement letter is the letter in which auditor defined the audit scope, its terms and other…

Q: Using the following table as a guide, describe for each function   A risk (an event or action that…

A: For each function, we can identify a risk and a control that can address the risk. For example, in…

Q: Audit plan is always prepared after conducting: a. Interview of employees b. Review of financial…

A: Audit plan refers to plan of nature, time, and extent of conducting an audit to obtain sufficient…

Q: Describe how the auditor documents the sales and despatch system for his audit file

A: The sale and dispatch system is the internal system of any entity for the distribution of the…

Q: Activities carried out by the auditor using comparisons and relationships of accounts or data to…

A: Auditing: Auditing is the process of examining the financial statements, to give a opinion on the…

Q: or the sake of adequate audit trail, sale staff can accept order from a client through instant…

A: Audit trail is very important in audit it checks the record by checking and verifying the…

Q: Indicate the primary audit objective for the following audit procedure: Determine whether sales…

A: Auditing is the process of examining financial statements, records, and other financial information…

Q: A В D REQUIRED: IDENTIFY THE ASSERTION[S] RELATED TO EACH AUDIT PROCEDURE ASSERTION[S] E= existence…

A: Audit Procedure:- An audit procedure is referred as the procedure which is used by the auditor to…

Q: Question 3 ( Audit planning is a vital area of the audit primarily conducted at the beginning of…

A: An auditor is appointed to check the accuracy of the financial statement.

Q: To determine the client’s planned amount and timing of production of a product, the auditor reviews…

A: The process that accounts the conversion of raw materials to work-in-progress to finished goods…

Q: when the auditor Watch employees count inventory to determine whether company procedures are being…

A: Ans. An auditor carries out various audit procedures like observation, inspection, confirmation,…

Q: An auditor looks at purchase orders to ensure the appropriate client personnel have approved the…

A: According to the question given, we need to select the correct option from the options given.Test of…

Q: y issues that affect going concern and/or raise issues and explain the audit steps

A: The financial statements are prepared with an assumption that the entity is a going concern in…

Q: Required: Determine whether each of the following terms is more likely to be associated with…

A: Exploratory Data visualization It's about diving into your data , looking for patterns , trends and…

Q: data analytics can be used during an external audit

A: Data analytics means the analysis of a set of data to find out trends and variations.

Q: An auditor verify entries in the An example of acquisitions journal by examining supporting vendors…

A: Vouching is nothing but verification of journal entries in the books of account by examining the…

Q: ng. Please use own sentence based on company wine talk sdn bhd 1) Explain (6) six elements of test…

A: As per Auditing standards a quality control system: It is implemented by firms to ensure their work…

Q: Process Activities PIC Order data that is inputted on the PDA is synchronized to the computer to…

A: Part 1 Automatic creation of Sales data from order data is not an effective method from Internal…

Q: Why are internal controls important in an organization? Provide specific benefits.

A: Internal controls help a company function more effectively and efficiently by taking into account…

Q: 5) a) Four mutually exclusive alternatives including "Do Nothing" are presented below. Find the best…

A: MARR stands for the minimum acceptable rate of return.  EUAB denotes Equivalent Uniform Annual…

Q: Explain the importance of proper credit approval for sales only typed solution

A: The credit approval for sales means sanctioning the credit limit and period for credit customers.…

Q: Which of the following two items are displayed in the QBO Navigation Bar?

A: Introduction:- QBO means QuickBooks Online. QBO Balance Sheet report gives you a financial snapshot…

Q: Financial audit Q&A What is the file type of the customer confirmation that is related to the…

A:

Q: Explain the role of sales volume, cost, and profitability in an audit? How do sales volume, cost,…

A: Sales Volume Audit analysis means a study of the net sales section of the profit and loss statement.…