Listed below are audit procedures taken from an audit programme from different transaction cycles:

1. Compare date in receiving reports and vendors invoices with date recorded in acquisition journal.

2. Recompute hours worked from time records.

3. Send confirmation letter to customers for all accounts over RM100,000.

4. Compare unit cost of inventory with those of previous years.

5. Review the minutes of board of directors' meeting for approval related to issuance of additional shares capital.

6. Examine whether sales invoices and shipping documents are pre-numbered and issued in sequence.





For each procedure (1) to (6) above,

Required:

i. Identify the financial statement cycle being audited.



ii. Identify the type of audit procedure, whether it is test of control, substantive test of transaction, analytical procedures or test of details of balances.



iii. Identify the audit objective or assertion being satisfied.

Answer rating: 100% (QA)

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