1. What do we mean by the term acquisition cycle? What is the payment cycle? Do you have any experience with acquisitions or payments? Please share your experiences with us.

2. What do we mean by the term substantive analytical procedures? Give an example of how an auditor would perform an analytical procedure for acquisitions?

3. What substantive analytical procedures might an auditor use to perform an analytical procedure for accounts payable?

4. a) Describe major activities and documents that an auditor would encounter to audit cash disbursements. b) Discuss common controls, tests of controls and substantive tests of transactions for cash disbursements.

5. Discuss common controls, tests of controls and substantive tests of transactions for property, plant and equipment.

6. What tools do auditors use to verify the ending balances in the various accounts in the acquisition and payments cycle?