Obtaining evidence Flashcards
1
Q
Occurrence
A
Transactions that have been recorded have occurred & pertain to entity
2
Q
Completeness
A
All transactions that have occurred, have been recorded
3
Q
Accuracy
A
Amounts & other data relating to recorded transactions have been recorded accurately
4
Q
Cut-off
A
Transactions have been recorded in the correct account period
5
Q
Classification
A
Transactions have been recorded in proper accounts
6
Q
Substantive procedure
A
Audit procedures designed to detect material misstatements at the assertion level
7
Q
What are the requirements for Working Papers?
A
- Have a heading
- Be dated
- Identify the compiler
- Identify the reviewer
- Identify applicable info
- Contain conclusions
- Be referenced & cross-referenced
