Listing Of Topics Under The Heading of Audit Evidence

Tweet In order for the auditor to satisfy himself the true and fair view of the company’s financial statement, during the course of the audit works, he or she needs to obtain audit evidence.   Append below the various topics pertaining to Audit Evidence:     TOPICS UNER AUDIT EVIDENCE Different Methods On The Audit […]

Sources Of Audit Evidence:-Difference Between Internal And External Evidence

Tweet Append below are some notes pertaining the two sources of audit evidences:   Internal Evidence Created and used and retained within the client’s organization and without its generally going to outside party. Examples: sales invoices duplicate copy, employees’ time reports, inventory reports, counterfoils of receipts, purchase requisitions May not constitute a direct accounting source […]

Using The Audit Technique Of Depth Test On Weekly wages (Part2 of 2)

Tweet In earlier article, we have an understanding of what is a depth test or “cradle-to-grave” test and some of its objectives.  Append below is an illustration of a depth test on weekly wages  Objective Of Depth Test On Weekly Wages ·         To confirm the operation of controls of wages and help to substantiate the […]

Audit Evidence:Depth Test & Its Purposes

Tweet Append below is some salient points on Depth Test and its objective(s):-  Depth Test Sometimes also known as “cradle-to-grave” tests Its involves taking a transaction or a number of transactions and following them through the accounting system from start to finish or vice versa Purposes/Objectives Generally, depth test is to provide audit evidence to […]

Audit Evidence: Using Compliance Procedures For Audit Work

Tweet Append below are some notes pertaining to understand what are  Compliance Procedures:-  Compliance Procedure In Obtaining Audit Evidence    Compliance Procedures are tests designed to obtain reasonable assurance that those internal controls on which audit reliance is to be placed are in effect    The auditor needs to ensure that internal control exist  and […]

Audit Evidence: Using Substantive Procedures

Tweet Append below are some notes pertaining to understand what is Substantive Procedures and its purposes in audit:  Substantive Procedures In An Audit  Substantive Procedures are tests designed to obtain evidence to ensure the completeness, accuracy and validity of the data produced by the accounting system.   Classified into two (2) types: (a) Tests of […]