The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach. Requirement 1 To ascertain: Out of the two auditors, the right one or both

Question

he auditor of Kent Ltd selects a sample from the file of shipping documents in order to confirm that all sales shipped are invoiced and recorded in accounting records. This test will confirm:Select one:a. Valuation and allocation assertion for sales.b. Cut-off assertion for sales.c. Occurrence assertion for sales.d. Completeness assertion for sales.

Answer 1

Question

Chapter 9, Problem 68RSCQ

To determine

Introduction:The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 1

To ascertain:Out of the two auditors, the right one or both

To determine

Introduction:Audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 2

To ascertain:The assertion is tested by the second auditor

To determine

Introduction: The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 3

To ascertain: The dual purpose test

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he auditor of Kent Ltd selects a sample from the file of shipping documents in order to confirm that all sales shipped are invoiced and recorded in accounting records. This test will confirm:Select one:a. Valuation and allocation assertion for sales.b. Cut-off assertion for sales.c. Occurrence assertion for sales.d. Completeness assertion for sales.

You are auditing Big Fresh Pty Ltd, and your manager has asked you to perform the following for the revenue account. Select a sample of sales from the sales journal and agree on the details in the journal to the sales invoices, delivery dockets and customer orders. Required: Explain which assertion for the revenue account would be addressed by this test and why? What kind of test of details is this? Any other assertion is provided by the above test apart from in part A.

Which of the following test controls most likely would help assure an auditor that goods shipped are properly billed? A. Scan the sales journal for sequential and unusual entries. B. Examine shipping documents for matching sales invoice. C. Compare the accounts receivalbe ledger to daily sales summaries. D. inspect unused sales invoices for consecutive prenumbering.

Answer 2

Question

Chapter 9, Problem 68RSCQ

To determine

Introduction:The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 1

To ascertain:Out of the two auditors, the right one or both

To determine

Introduction:Audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 2

To ascertain:The assertion is tested by the second auditor

To determine

Introduction: The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 3

To ascertain: The dual purpose test

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Answer 3

Question

Chapter 9, Problem 68RSCQ

To determine

Introduction:The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 1

To ascertain:Out of the two auditors, the right one or both

To determine

Introduction:Audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 2

To ascertain:The assertion is tested by the second auditor

To determine

Introduction: The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 3

To ascertain: The dual purpose test

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Answer 4

Question

Chapter 9, Problem 68RSCQ

To determine

Introduction:The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 1

To ascertain:Out of the two auditors, the right one or both

To determine

Introduction:Audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 2

To ascertain:The assertion is tested by the second auditor

To determine

Introduction: The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 3

To ascertain: The dual purpose test

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Answer 5

Chapter 9, Problem 68RSCQ

To determine

Introduction:The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 1

To ascertain:Out of the two auditors, the right one or both

To determine

Introduction:Audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 2

To ascertain:The assertion is tested by the second auditor

To determine

Introduction: The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 3

To ascertain: The dual purpose test

Answer 6

Chapter 9, Problem 68RSCQ

To determine

Introduction:The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 1

To ascertain:Out of the two auditors, the right one or both

Answer 7

Chapter 9, Problem 68RSCQ

To determine

Introduction:The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 1

To ascertain:Out of the two auditors, the right one or both

Answer 8

To determine

Introduction:Audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 2

To ascertain:The assertion is tested by the second auditor

Answer 9

To determine

Introduction:Audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 2

To ascertain:The assertion is tested by the second auditor

Answer 10

To determine

Introduction: The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 3

To ascertain: The dual purpose test

Answer 11

To determine

Introduction: The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.

Requirement 3

To ascertain: The dual purpose test

Answer 12

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Answer 13

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Answer 23

Ch. 9 - Prob. 1TFQ Ch. 9 - Prob. 2TFQ Ch. 9 - Prob. 3TFQ Ch. 9 - Prob. 4TFQ Ch. 9 - Prob. 5TFQ Ch. 9 - Prob. 6TFQ Ch. 9 - Prob. 7TFQ Ch. 9 - Prob. 8TFQ Ch. 9 - Prob. 9TFQ Ch. 9 - Prob. 10TFQ

Solution Summary: The author explains that the audit approach is the strategy for conducting an audit by the auditor.

Chapter 9 Solutions