Professional Documents
Culture Documents
Auditing Chapter 5 Presentation
Auditing Chapter 5 Presentation
24
Key facts:
Speciality retail store
Inventory is material
Items range in value $1 to $500
Prepayments: Orders 6 months in advance from
overseas suppliers, require large deposits
5.24
Assertion
Description
Existence
Rights &
Obligation
s
5.24
Assertion
Description
Completen
ess
5.24
Inventory
Existence
5.24
Prepayments
Existence
5.34
Key facts:
Susan was talking to client staff and had a tour
around the various construction sites and offices
She is Working on spread sheet of the clients
previous FR and unaudited interim data
5.34 a
of evidence:
Verbal evidence
Computational evidence
5.34 a
Physical evidence
Documentary Evidence
5.34 b
5.34 c
5.35
Key facts:
5.35
5.35
at Securimax
5.36
Key facts:
TR considered material
5.36
Strengths
Weaknesses