Audit Case Study 2 Listed below are assertions for particular transactions and accounts Provide details of two completely different types of substantive tests that an auditor can undertake to gain appropriate evidence about each assertion (Write your answer in such a way as an audit junior would be able to understand exactly what you wanted them to do) Solution Explain the kind of audit test required to check this assertion for a particular kind of account Internal Control Substantive Test of Detail Both are acceptable (a) Existence of Cash (b) Valuation Allocation of Accounts Receivable (c) Existence of Accounts Receivable (d) Cut off for repairs maintenance (e ) Completeness of Accounts Payable

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Question: Audit Case Study 2 Listed below are assertions for particular transactions and accounts. Provide details of two completely different types of substantive tests that an

Audit Case Study 2

Listed below are assertions for particular transactions and accounts. Provide details of two completely different types of substantive tests that an auditor can undertake to gain appropriate evidence about each assertion. (Write your answer in such a way as an audit junior would be able to understand exactly what you wanted them to do).

Solution

	Explain the kind of audit test required to check this assertion for a particular kind of account. Internal Control/Substantive Test of Detail Both are acceptable!!!
(a) Existence of Cash
(b) Valuation/ Allocation of Accounts Receivable
(c) Existence of Accounts Receivable
(d) Cut off for repairs/maintenance
(e) Completeness of Accounts Payable

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