ACCA Noter Answer Paper F8 f8int 2007 dec q
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(b) You are the audit manager in charge of the audit of Tempest, a limited liability company.. The company’s year end is 31 December, and Tempest has been a client for
The objective of the internal audit department is to check the accuracy of the inventory count to ensure that the physical goods inventory is correctly stated on the inventory
List the substantive audit procedures that you should undertake in the audit of current liabilities of Metcalf Co for the year ended 31 March 2007.. For each procedure, explain
Common errors and reasons why those errors did not obtain marks included: Error Reason for lack of marks. Taking each audit report extract as a separate opinion paragraph and
(ii) The decrease in value of inventory took place after the end of the reporting period but before the financial statements and the audit report were signed. The auditor is
APART FROM THIS PROCEDURE, in respect of testing the accuracy of the time recording system at Blake Co, explain FOUR procedures used in collecting audit evidence and discuss
The reason being that the partner has become too close to the directors and staff in the firm and this may impair his judgement on the financial statements.. However, NorthCee is
Audit documentation is available from the previous year’s audit, including internal control questionnaires and audit programmes for the despatch and sales system.. The audit
