the following tests of controls were designed to allow the auditor to determine if the company’s related controls were operating effectively in the revenue cycle. Determine which of the four management assertion(s) apply to each individual sales (revenue) control
|
When an auditor needs to obtain an understanding of the overall internal control of a company, the auditor |
|||||||||||
|
first needs to consider the elements of the control environment. To assist the auditor in assessing the level of control risk, the following tests of controls were designed to allow the auditor to determine if the company’s related controls were operating effectively in the revenue cycle. |
|||||||||||
|
Determine which of the four management assertion(s) apply to each individual sales (revenue) control being discussed. Hint: many have more than one assertion.
|
Auditing -
To determine the accuracy and dependability of information, audit is undertaken. The main purpose of auditing is to examine books and accounts together with supporting vouchers and documentation to find and stop fraud.
Step by step
Solved in 2 steps
