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How do you effectively answer questions on audit procedure

+1 Vote
October 8th 2014 AN ACCA USER 130 Points

2 Replies

+1 Vote

I think you basically should have the concept of AEIOU may be from your F8. On that basis, the procedures should confirm with the checklist

Audit Procedures
1. Analytical Procedures
2. Enquiry and confirmation
3. Inspection
4. Observation
5. Re-performance or re-calculation

Procedures should confirm with the DADA3 Checklist:
Documents, Assets, Directors, Accounting System and 3rd parties

November 12th 2014 AN ACCA USER 160 Points
0 Votes

Action
Choose 1 from: AEIOUCR

Source
Of Bank statements
Of Board minutes
Of PPE register

Objective
To validate financial statement PPE figure to independent external information source for accuracy.

November 28th 2014 AN ACCA USER 1,230 Points
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