Choose TWO (2) peculiar transactions of a bank and establish an audit program. An audit program, also
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Question:
The audit program must contain the following:
Transaction. It is the chosen bank transaction.
Audit Objectives. It contains the specific audit objectives that must be obtained upon auditing the said account. It also contains the financial statement assertions that the audit objectives will address.
Audit Procedures. It contains the specific procedures that must be conducted to attain the audit
objectives. It is divided into two (2) sections:
1. Test of controls. It contains specific steps in testing the effectiveness and efficiency of the controls established for the peculiar transaction.
2. Substantive procedures. It contains specific steps that would enable the auditor to attain conclusive evidence supporting the steps in the test of controls.
Related Book For
Auditing a risk based approach to conducting a quality audit
ISBN: 978-1133939153
9th edition
Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg
Posted Date: