Question: Explain how the auditor s risk assessment affects the design of
Explain how the auditor’s risk assessment affects the design of the substantive audit program.
Answer to relevant QuestionsIn the audit of inventory, what is the purpose of the analytical procedure that compares gross profit margin by month for the last two fiscal periods? What payroll documentation supports the validity and accuracy of payroll transactions? Explain how government forms and reports can be used in the audit of payroll transactions and balances.What is the purpose of examining endorsements on the back of payroll cheques?Refer to the internal control questionnaire on a payroll system (Exhibit 13A–2 in Appendix 13A) and assume the answer to each question is “no.”Required:Prepare a table matching each question to an error or fraud that ...
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