Auditing: A Risk Based-Approach to Conducting a Quality Audit
Auditing: A Risk Based-Approach to Conducting a Quality Audit
10th Edition
ISBN: 9781305080577
Author: Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher: South-Western College Pub
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Chapter 6, Problem 39MCQ
To determine

Introduction: It is about the statement which is true with relation to the audit program.

To choose: Select the true statement

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Which of the following is the major purpose of performing analytical procedures in internal audits?  a. To perform additional audit procedures. b. To plan the audit engagement. c. To obtain audit evidence. d. To study relationships among elements of  information.
An audit plan is : a. The blueprint for conducting the audit and accomplishing the audit objectives. b. The flowchart for conducting the audit and accomplishing the audit objectives. c. The footprint for conducting the audit and accomplishing the audit objectives. d. The gannchart for conducting the audit and accomplishing the audit objectives.
Listed in the table below are some common audit procedures. For each procedure below: Identify whether it is a test of control (TOC), substantive test of transaction (STOT), analytical procedure (AP) or a test of details of balances (TODOB). Write your answer in the 2nd column of the table below.  State one audit objective that is being satisfied. Write your answer in the 3rd column of the table below.  Procedure (a) Type of Test (b) Audit Objective Example: Compare the quantity and description of items on duplicate sales invoices with related shipping documents. STOT Accuracy 1.Foot the list of accounts payable and trace the balance to the general ledger.           2. Account for the sequence of purchase orders             3. Select a sample of purchase transactions from purchase journal and trace them to vendors’ invoices and statements       4. Exam cash payments subsequent to the balance date to see if they are related to unrecorded…

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Auditing: A Risk Based-Approach to Conducting a Quality Audit

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