Auditing and Assurance ServicesThis text provides up-to-date information on all issues inherent in accounting and auditing practice, particularly in public accounting firms including coverage of the creation of the Public Companies Accounting Oversight Board, the passage of the Sarbanes-Oxley Act and more. |
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Page 198
... bank to confirm zero balances . ( If a bank confirms a nonzero balance , the auditors have evi- dence that some asset accounting is omitted in the company records . ) Interbank Transfer Schedule Auditors usually prepare a schedule of ...
... bank to confirm zero balances . ( If a bank confirms a nonzero balance , the auditors have evi- dence that some asset accounting is omitted in the company records . ) Interbank Transfer Schedule Auditors usually prepare a schedule of ...
Page 211
... bank reconciliation . GENERAL COMPANY BANK RECONCILIATION : 1ST NATIONAL BANK SEPTEMBER 30 A. Balance per bank $ 28,375 B. Deposits in transit Sept 29 $ 4,500 Sept 30 1,525 6,025 34,400 C. Outstanding checks : # 988 Aug 31 $ 2,200 ...
... bank reconciliation . GENERAL COMPANY BANK RECONCILIATION : 1ST NATIONAL BANK SEPTEMBER 30 A. Balance per bank $ 28,375 B. Deposits in transit Sept 29 $ 4,500 Sept 30 1,525 6,025 34,400 C. Outstanding checks : # 988 Aug 31 $ 2,200 ...
Page 213
... Bank . They recorded the bank disbursement and receipt dates in the schedule of interbank transfers . For each transfer , these dates are identical because the accounts are in the same bank . An alert auditor noticed that the 1st ...
... Bank . They recorded the bank disbursement and receipt dates in the schedule of interbank transfers . For each transfer , these dates are identical because the accounts are in the same bank . An alert auditor noticed that the 1st ...
Contents
User Demand for Reliable Information 2 Management versus Auditor Responsibility for Internal | 19 |
Performing the Financial Audit | 29 |
Attestation and Assurance Standards | 45 |
Copyright | |
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Common terms and phrases
accepted accounting principles accepted auditing standards account balance accounts receivable AICPA adapted amount analytical procedures application assessing control risk assets assurance services attribute sampling audit documentation audit evidence audit procedures audit program audit report audit risk AUDITING INSIGHT balance sheet bank cash receipts Certified Fraud Examiners checks company's confirmation control procedures cost customers cycle December 31 detection risk determine disclosure employees estimate evaluation example Exhibit expense Fraud Examiners GAAP identify incorrect acceptance independent internal auditors internal control inventory investment LEARNING OBJECTIVE liability loan material misstatement obtain operations opinion payroll percent perform personnel planning population PPS sampling processing production professional purchase recorded responsibility revenue Review Checkpoints risk of assessing risk of incorrect risk too low sales invoices sampling risk Sarbanes-Oxley Act securities selection substantive procedures tests of controls tolerable deviation rate valuation variables sampling year-end