auditing

c. Using your business experience, your logic, your or fraud that could occur if the control were absent or use of the procedure? Asclosure) EP 12-9 Accounts Payable Internal Control Quar tionnaire Item: Control Objectives, Test Controls Procesures, and Possible Errors or Fraud. L012 Listed below is a selection of items from the internal control questionnaire on 1. Are invoices, receiving reports, and purchase could use to determine whether the control was payables in Appendix 12A. orders reviewed by the cheque signer? 2. Are cheques dated in the cash payments journal with the date of the cheque? 3. Are the quantity and quality of goods received determined at the time of receipt by receiving personnel independent of the purchasing department? 4. Are suppliers' invoices matched against purchase orders and receiving reports before a liability is recorded? Required: For each listed item: a. Identify the control objective to which it applies. b. Specify one test of controls audit procedure an auditor operating effectively. imagination, or all three, give an example of an error 5 ineffective. EP 12-10 Inventory Count Mon mon LO1,5