Prepaid Expenses Audit Assertions

Auditing Manual For Audit Firms In Mongolia (Volume I)
AP 20 Audit Program for Prepaid Expenses and Other Assets AP 25 Audit Program for Investments evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between those assertions and ... Fetch Full Source

CHAPTER 8
Depreciation). Some expenses should be examined separately because of their unique nature (e.g. legal expenses or miscellaneous expense). 8.44 Property and Equipment Assertions and Substantive Audit Procedures. 1. May omit if students assume the charge was made to prepaid rent. ... Retrieve Content

Auditing Study Guide - The McGraw-Hill Companies
Audit Evidence and Documentation To meet this responsibility, management may be viewed as implicitly or explicitly making the following assertions (summarized that occurs only periodically, such as counting and pricing inventory, calculating depreciation expense, or determining prepaid expenses. c. ... Content Retrieval

Assessing Internal Control Over Financial Reporting
6 Assertions: •All reported Internal Audit, Legal Prepaid expenses and other current assets Prepaid expenses LOW L LLL L AR LOW L LLL L Accrued Interest Receivable LOW L LLL L Other LOW L LLL L Available for sale investments (non-curren MEDIUM M MM M M ... View This Document

ITY ACC RUAL AU DIT P ROG RAM GU IDE
RH Prepaid Expenses RI Capital Assets RJ Due to/Due from Other Funds RK Accounts Payable/Due to Other Governments Audit Objectives and related assertions: A. Investment values, income, gains or losses are stated correctly and allocated properly to funds. ... View Full Source

Prepaid / Accrued Expenses - AuditNet: Knowledge Is Power ...
PREPAID / ACCRUED EXPENSES AUDIT PROGRAM GUIDE. as of Item Done No. Audit Procedure By WPs and Comments Title: Prepaid / Accrued Expenses Subject: Audit Program Guide Description: Contributed to AuditNet August 15, 2005 Last modified by: AuditNet LLC ... Fetch Full Source

Principles Of International Auditing - Welkom Bij Pentagan ...
Identify Financial Statement Assertions and audit objectives; Identify Relevant Controls; prepaid expenses, and taxation. L. OTHER MATTERS. Other matters are a round-up of miscellaneous matters including illegal and questionable acts, management letter, summary of audit differences, ... Doc Retrieval

Chapter
Secured location Performance reviews Compare purchases data to data from previous years or expected purchases data 8-* Audit Evidence in Management Reports and Procedures Exhibit 8.5 Assertions about account Accrued Liabilities and Prepaid Expenses Income ... Visit Document

Audit Program For Prepaid Expenses And Other Assets
All audit work should be documented in attached working papers, with appropriate references noted in the right column below. Audit Objectives Financial Statement Assertions Balances of prepaid expenses, deferred charges, intangibles, and other assets are being allocated to ... Retrieve Document

Higheredbcs.wiley.com
Examples of Tests of Details of Balances Learning Objective #6 Chapter 12-42 EXHIBIT 12-8 AUDIT OF PREPAID EXPENSES AND ACCRUED LIABILITIES Learning Objective #7 Chapter 12-43 AUDIT OF PREPAID EXPENSES AND ACCRUED Apply the assertions, controls, and audit tests for purchase and payment ... Retrieve Here

Audit Program for the Income Statement. Company Balance Sheet Date Audit Objectives Audit Procedures for by Workpaper Index FINANCIAL STATEMENT ASSERTIONS. or services, expenses, and extraordinary, unusual, or infrequent items ... Access Full Source

Failures Of Legitimate Businesses - Portland State University ...
Overview of the Financial Statement Audit . Learning Check The five categories of management's financial statement assertions are (1) existence or occurrence, (2) completeness, (3) such as the risk of misallocating prepaid expenses. ... Document Viewer

Chapter 1
End of Chapter 14 14-* * * * * * * * * It may be useful here to give some general definitions or examples of these assertions. Details of the Prepaid Insurance Account Audit testing begins by obtaining a 14 Balance Sheet Other Assets Auditing Prepaid Expenses Inherent ... Fetch Document

Going Concern - Wikipedia, The Free Encyclopedia
The going concern principle allows the company to defer some of its prepaid expenses until future application of auditing procedures planned and performed to achieve audit objectives that are related to management's assertions embodied in the In performing audit procedures such as ... Read Article

The company has the following general ledger accounts that will be classified in the prepaid, deferred charge, intangible, or other Audit Objectives Audit Procedures for Consideration N/A Performed by Workpaper Index FINANCIAL STATEMENT ASSERTIONS. ... Read Here

CHAPTER 12
AUDITING CHAPTER 13 Accounts Payable, Prepaids, & Accrued Liabilities By David N. Ricchiute TOPICS Relationship assertions & audit procedures Relationship audit risk, nonfinancial measures, substantive tests Substantives tests for A/P Substantive tests for prepaid expenses, accrued liabilities ... Get Doc

GARY WALTRIP, CPA STANDARD AUDIT PROGRAM FOR HOMEOWNERS ...
Statement assertions that are to be tested. PLANNING THE AUDIT ENGAGEMENT Audit Objective: To identify the general ledger or similar record that other prepaid expenses, and reconcile with general ledger. ... Content Retrieval

Chapter
Exhibit 8.2 Expenditure Control Procedures Assertions of Classes of Audit Evidence in Management Reports and Data Files Open Purchase Other Accounts in Cycle Accrued Expenses Prepaid Expenses Expenses Inventory Property Plant and Equipment Accrued Payables Major ... Read Document

Phoenix HealthCare Of Tennessee, Inc. For The Period January ...
The Division of State Audit performs examinations of managed care organizations and prepaid expenses are not included in the determination of plan assets and are reduced from equity. The plan had a management’s assertions about the organization’s compliance based on our ... Access Doc

CITY ACCRUAL AUDIT PROGRAM GUIDE - Iowa Auditor Of State
RH Prepaid Expenses RI Capital Assets RJ Due to/Due from Other Funds RK Accounts Payable/Due to Other Governments Audit Objectives and related assertions: A. Investment values, income, gains or losses are stated correctly and allocated properly to funds. ... Return Document

Chapter
Explain the importance of the completeness assertion for the audit of payable trial balance Purchases journal Fixed asset reports Substantive Procedures Exhibit 8.5 Assertions about account Other Accounts in Cycle Prepaid Expenses Accrued Liabilities Expenses Inventory ... Doc Viewer