question archive Case study Joahim Gauss S

Case study Joahim Gauss S

Subject:AccountingPrice: Bought3

Case study Joahim Gauss S.C.

Joahim Gauss is the limited partnership of the auditors, during the audit of Kurnik Polski Pls there were randomly selected 25 balances of the clients and agreed to the supporting documentation and confirmation the errors identified  are shown in the table below

Customer

Balance as per client

Balance as per auditor

Difference

Kowalski s.a.

582218

597595

-15378

RTDT s.a.

890111

912924

-22814

Oramas sp. z o.o.

379564

286505

-93059

Kariabik s.c.

827956

860679

-32723

Topola s.kom.

42953

178808

-135855

Wyj?cie s.a.

660065

665256

5190

Element s.c.

869434

842310

27124

Kostrzewa Adam

331267

352151

-20884

John Smith

166144

141369

24775

Sum

4 749 712

4837597

-263623

 

Total value of the trade debtors amount to €8 276 345,25; value in sample  5 123 437. Total value of receivables disclosed on the face of the balance sheet amount to € 8 076 245,25.

Engagement materiality is €1.7 million, tolerable error €1million, the SAD limit is €100k.

 

You are required to:

 

Q1- Show the value of identified error and describe how to estimate the value of error against the entire trade debtors. Approximate the total value of errors in all trade debtors' population and assess the appropriateness of the debtor's provision. Point out the different audit procedures you might apply to trade debtors to ensure fairness of the total population.

pur-new-sol

Purchase A New Answer

Custom new solution created by our subject matter experts

GET A QUOTE