question archive The following are 11 audit procedures taken from ana audit program:1
The following are 11 audit procedures taken from ana audit program:1
Subject:StatisticsPrice: Bought3
The following are 11 audit procedures taken from ana audit program:1. Foot the accounts payable trial balance and cmopare the total with the general ledger.2- Examine vendors’ invoices to verify the ending balance in accounts payable.3-compare the balance in payroll tax expense with previous years. The comparison takes the increase in payroll tax rates into account.4- Examine the internal auditor’s on monthly bank reconciliations as an indication of whether they have been reviewed.5- Examine vendors’ invoices and other documentation in support of recorded transactions in the aquisitions jounal.6- Multiply the commission rate by total sales and compare the result with commission expense.7- Examine vendors’ invoices and other supporting documents to determine whether large amounts in the repair and maintenance account should be capitalized.8- Discuss the duties of the cash disbursements clerk with him and observe whether he has responsibility for handling cash or preparing the bank reconciliation.9-Confirm accounts payable balances directly with vendors.10-Account for a sequence of checks in the cash disbursements journal to determine whether any have been omitted.11- Inquire about the accounts payable supervisor’s monthly review of a computer generated exception report of receiving reports and purchase orders that have not been matched with a vendor invoice.a) indicate whether each procedure is a test of control, substantive test of transactions, analytical procedure, or a test of detail of balances.b) Identify the type of evidence for each procedure.
