Imagine you are the auditor of an organization and you find that the Trial balance of the financial year does not tally (Dr and Cr are not equal) What are the types of audit test you would cover, explain with examples.
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Requirements: 2000
Part 1 :
Questions:
Q1. Imagine you are the auditor of an organization and you find that the Trial balance of the financial year does not tally (Dr and Cr are not equal)
What are the types of audit test you would cover, explain with examples.
Explain the assertions you would apply on transactions and events, on Account balances, and on Presentation &Disclosure. (4 Points)
Answer:
Q2. Chapter 4
When an Auditor finds misstatements in entities financial statements which may be the result of fraudulent act, what should be the role of an auditor under that situation? (2 Points)
Answer:
Q3 Chapter 5
‘Audit evidence is all that information, from whatever source, used by the auditor in arriving at the conclusions on which the audit opinion is based.’
Briefly explain the three main concepts of audit evidences. ( 3 Points)
Answer:
Q4. Chapter 7
Explain auditor’s documentation Process and procedures of internal control over financial reporting (ICFR) and its types of audit reports. (3 Points)
Answer
Q5 Chapter 8
Explain the Concept of Audit Sampling and types of Sampling Risk. (3 Point)
Answer
Reference Part 1 :
Part 2:
Assignment Question(s):
Q1 What Makes Information Useful? Explain each point. (2.5 marks)
Answer:
Q2 What are the Components of an AIS? (2.5 marks)
Answer:
Q3 What does documentation mean? Describe the two Techniques of Systems Documentation . (2.5 marks)
Answer:
Q4 Explain Three Advantages of Database Systems. (2.5 marks)
Answer:
Q5 Explain The three elements of the Fraud Triangle, then provide an example to each one. (2.5 marks)
Answer:
Q6 What does Social Engineering mean? Then give three examples of its Techniques from the real life. (2.5 marks)
Answer:
Reference Part 2 :
Part 3 :
Assignment Question(s): (Marks 15)
Q1. Visit the link below to access an academic article that discusses the “Antecedents and Consequences of Participative Budgeting” one of the most common researched topics in Management Accounting. After reading the article, in your own words, try to summaries it covering the following items:
The article issues and objectives.
Research method(s) and methodology used.
Findings and impact on the field.
Write no less than 300 words.
(5 Marks)
Answer:
Q2. What is Grounded theory? Discuss its application in Accounting research.
Answer:
Q3. Differentiate between the three types of Validity (Internal, External and Construct)
Answer:
Reference Part 3:
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