AUDITING LL W/ CONNECT <C>
11th Edition
ISBN: 9781307416268
Author: MESSIER
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Chapter 10, Problem 10.28P
To determine
Concept Introduction:The documents which record the step by step process of auditing are known as audit working papers. These working papers are comprised of audit evidencethatisobtained during auditing financial statements or while investigation. Audit working papers are also helpful to the auditor to assure whether the audit performed on the financial statements are according to the auditing standards or not.
Deficiencies in the working paper that the engagement supervisor should discover.
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Students have asked these similar questions
You are involved with the audit of Jelco Company for year 1 and have been asked to consider the confirmation reply results indicated
below. For each confirmation reply, select the proper action to be taken from the following possible actions: (Each of the "Action"
items may be used once, more than once, or not at all.)
(1)Exception; propose an adjustment.
(2)Send a second confirmation request to the customer.
(3) Examine shipping documents and/or subsequent cash receipts.
(4)Verify whether the additional invoices noted on the confirmation reply pertain to
the year under audit or the subsequent year.
(5) Not an exception; no further audit work is necessary.
Proper
Action
Customer Reply (and any audit action already taken)
a. "We mailed the check for this on December 31."
"We returned those goods on December 2." You have been able to determine that the goods were received by the client
on December 29, but not recorded until January 2.
c. "We also owe for two more invoices for purchases…
A representative of the PMO emailed you to notify you of an internal audit they want
to perform on your project. Later in the day, you brainstorming with your team
about the possible reasons for the audit. Which of the reasons below can you
eliminate as a possible reason for this audit?
A regulatory organization has asked for the audit
The PMO is preparing for an annual audit from an accounting company
The PMO wants to know if project templates are being used appropriately
The PMO wants to know if the team is doing their job well
1.Compile a working paper indicating all relevant information that should be included in the working paper. In your design and compilation of the working paper ensure that include the following elements:Audit Objective:Sample:Audit Procedures:Testing workings and results:Conclusion:
Chapter 10 Solutions
AUDITING LL W/ CONNECT <C>
Ch. 10 - Prob. 10.1RQCh. 10 - Prob. 10.2RQCh. 10 - Prob. 10.3RQCh. 10 - Prob. 10.4RQCh. 10 - Prob. 10.5RQCh. 10 - Prob. 10.6RQCh. 10 - Prob. 10.7RQCh. 10 - Prob. 10.8RQCh. 10 - Prob. 10.9RQCh. 10 - Prob. 10.10RQ
Ch. 10 - Prob. 10.11RQCh. 10 - Prob. 10.12MCQCh. 10 - Prob. 10.13MCQCh. 10 - Prob. 10.14MCQCh. 10 - Prob. 10.15MCQCh. 10 - Prob. 10.16MCQCh. 10 - Prob. 10.17MCQCh. 10 - Prob. 10.18MCQCh. 10 - Prob. 10.19MCQCh. 10 - Prob. 10.20MCQCh. 10 - Prob. 10.21MCQCh. 10 - Prob. 10.22MCQCh. 10 - Prob. 10.23MCQCh. 10 - Prob. 10.24PCh. 10 - Prob. 10.25PCh. 10 - Prob. 10.26PCh. 10 - Prob. 10.27PCh. 10 - Prob. 10.28PCh. 10 - Prob. 10.29PCh. 10 - Prob. 10.30P
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