(7 marks) Interior Space Ltd (Interior Space) is an architectural services company. Invoices for services received...
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(7 marks) Interior Space Ltd (Interior Space) is an architectural services company. Invoices for services received by Interior Space are authorised for payment and supported by the following: 1. A purchase requisition form is initiated by a person other than the authoriser of the purchase order. ii. Authorised purchase order. iii. An 'approved for payment form from the purchase requisitioner confirming that the service was received. Required I (a) Identify the assertion addressed by each of these three controls (i to iii) above. (b) For the three controls (i to iii) above, determine an appropriate test of control. Use the following table to write your answers. Control i. ii. iii. (a) Assertion (b) Test of control (7 marks) Interior Space Ltd (Interior Space) is an architectural services company. Invoices for services received by Interior Space are authorised for payment and supported by the following: 1. A purchase requisition form is initiated by a person other than the authoriser of the purchase order. ii. Authorised purchase order. iii. An 'approved for payment form from the purchase requisitioner confirming that the service was received. Required I (a) Identify the assertion addressed by each of these three controls (i to iii) above. (b) For the three controls (i to iii) above, determine an appropriate test of control. Use the following table to write your answers. Control i. ii. iii. (a) Assertion (b) Test of control
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Control Assertion Test of Control i Purchase requisition form initiated ... View the full answer
Related Book For
Accounting Business Reporting For Decision Making
ISBN: 9780730302414
4th Edition
Authors: Jacqueline Birt, Keryn Chalmers, Albie Brooks, Suzanne Byrne, Judy Oliver
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