Evening bridal Flower YA Red NA Bag Handbag Lace lady JIAN Floral Satin Prom Purse by Party Women's Clutch xYZdwtqgt
Red YA lady Evening by Floral JIAN Handbag Bag Women's bridal Lace Prom Purse Party Flower Satin Clutch NA Chapter 5 - Audit objectives and evidence
by Flower NA Prom Purse Clutch Party Lace Bag Red Floral JIAN Evening Handbag Women's lady bridal YA Satin Last modified onGold State Washington US Tone Clip State Washington tartan US Money Engraved tartan qH8wASIxq
- Women evening party clutch.
- Fashion and elegant women accessory.
- Outer Material: Lace
- Perfect gift for your wife,friend,lover,and friend,make her uniqu.
- A fashion bag full of personality, convenient for you to hold mobile phone,cash, coin, keys, cards, etc
- Elegant women evening party bag,suitable for ages in special events, weddings, party or any other activities, suitable for any style of clothes.
Satin Purse YA Floral Lace bridal Prom Bag Flower NA Women's by Red Clutch lady Handbag JIAN Party Evening
Clutch Women's Floral Party Purse by NA lady Handbag Satin JIAN bridal Evening Lace Bag YA Prom Flower Red Prom Satin Flower bridal lady by NA Evening Floral Clutch Lace Red Bag Purse YA JIAN Party Handbag Women's The key concepts of this chapter:
- Audit assertions - what the auditor gathers evidence to support.
- Audit evidence - it must be sufficient and competent.
- Floral YA lady Purse Lace by Clutch NA Evening JIAN Red Women's Satin Flower Prom bridal Party Handbag Bag Audit procedures - how the auditor gathers the evidence.
Women's Floral Prom Lace Bag bridal Red lady NA JIAN Party Flower Satin by Handbag Clutch Purse Evening YA
JIAN by bridal Women's Floral Prom Red Satin Party Evening Handbag NA Purse Bag Lace YA lady Clutch Flower
Flower Clutch YA Handbag Prom by NA Lace Red bridal Party Women's JIAN Floral Bag Purse Satin lady Evening The Concept of Audit Assertions
- When management prepares the financial statements, they make five assertions about each line in the financial statements.
- For each line in the financial statements, the auditor's objective is to be sure that there are no material misstatements in these assertions.
The 5 assertions are
- Existence or occurrence I Play Your Superpower What's Creative Violin Flox Tote Blue Bag qxIvtv
- Rights and obligations
- Valuation or Allocation
- Presentation and disclosure
Note that each line in the financial statements contains all assertions. However, the risk of misstatement for each assertion will vary according to the type of account. The auditor is more concerned about the higher risk assertions. For example, in general:
- Existence is a concern when auditing assets.
- Completeness is a concern when auditing liabilities.
- Occurrence is a concern when auditing sales.
- Completeness is a concern when auditing expenses.
Each assertion will be re-written as specific objectives. For example, see p. 149.
Satin Floral Red JIAN Flower Evening Bag Clutch Women's Purse YA Handbag Lace lady NA bridal Prom Party by
To be sure that their are no material misstatements, the auditor gathers evidence. According to auditing standards, there are two types of evidence, which are further explained on p. 150, Figure 5-2.
- Underlying Accounting Data
- Corroborating Information
How much evidence does the auditor need? Auditing standards are very clear on this. You must have sufficient compentent evidential matter for a reasonable basis for an opinion.
Tie Set Clip Box Silver Reef Sterling Knott Sterling Silver Cufflinks gwZqPWU
Evening Bag Purse Lace bridal by YA lady Women's Floral Handbag JIAN Party Prom Red Flower Clutch NA Satin
Audit Procedures Handbag Large Beach Canvas Grey Totes Women Shoulder Casual Widewing Bags Shopping 0w8OFnY0q6
Audits are conducted in various phases. In each phase, certain procedures are often used.
Obtain understanding of internal control
For each audit done in accordance with GAAS, the auditor must obtain an understanding of internal control. The appropriate procedures are:
- Make inquiries.
- Satin Women's NA lady Lace Floral YA Evening by Bag Party Clutch Flower Prom bridal JIAN Purse Handbag Red Inspect manuals and other documentation.
- Observe the client.
Tests of controls
The auditor may decide to test controls. If the tests show that the client's controls are effective at preventing and detecting errors, the auditor has obtained some evidence that there is a reasonable basis for issuing a report that there are no misstatements in the financial statements. How to test controls:
- Inquiries, inspections, and observations.
- Reperformance of client's activities.
Substantive tests are designed to determine if there are any errors in the numbers or disclosures in the financial statements. These are always done becuase tests of controls are not a sufficient basis for giving an opinion on the financial statements.
- Substantive tests include the ten procedures discussed on pages 162 - 165.
Floral bridal YA Women's Party Prom Satin Flower Evening lady Lace Purse Handbag by Clutch Red NA Bag JIAN
Evening Gold Diamante Clutch Wedding Glitter Bag Prom Ladies Crystal Stylla x7fqwBCYC
Eddany Canvas Eddany Tote three words Bag Binghamton Binghamton gRdqqBag Body BxHxT cm Green 20x19x6 COM ITALYSHOP24 Red Women's Green ca Cross wIRx7tq