Inventory: Auditing and Instructor Resource Manual

8542 words 35 pages
Planning and Performing audit Procedures in the Revenue and Expenditure Cycles an audit Simulation
C A S eS INC LU De D IN T h IS Se CTION

10

10.1 Southeast Shoe Distributor, Inc.
Identification of Tests of Controls for the Revenue Cycle (Sales and Cash Receipts) Identification of Substantive Tests for the Revenue Cycle (Sales and Cash Receipts)

. . . . . . . . . . . . . .

299 309 319 333 347

10.2 Southeast Shoe Distributor, Inc. 10.3 Southeast Shoe Distributor, Inc. 10.4 Southeast Shoe Distributor, Inc. 10.5 Southeast Shoe Distributor, Inc.

. . . . . . . . . . . . . .

. . . . . . . . . . . . . .

Selection of Audit Tests and Risk Assessment for the Revenue Cycle (Sales and Cash Receipts)
. . . . . . . . . . . .
…show more content…
This provides an opportunity to highlight the subjective nature of some of these judgments as well as to point out that many audit approaches would be considered reasonable. The suggested approach is amenable to using small cooperative learning groups. For example, students could be asked to individually identify a control activity related to the existence of sales transactions, share it with another student, and then share it with the whole class (called Think-PairShare). It is important that students be randomly selected by the instructor to share their answers with the class to maintain individual student accountability for the learning process. This basic process can continue for the remaining management assertions. A group activity for the “out-of-class” activity would be to have students compare their answers in small groups and then ask them to share their answers with the whole class (called Homework Review). Again, it is important that the instructor randomly select students to share their answers with the class to maintain student accountability. Students can also be asked to complete the “out-of-class” activities in pairs or small groups.

PROFESSIONAL STANDARDS
Relevant professional standards for this assignment are AU Section 319, “Consideration of Internal Control in a Financial Statement Audit,” AU Section 325, “Communication of Internal Control Related Matters Noted in An Audit,” AU

Related

  • Sda Manual
    101202 words | 405 pages
  • Inventory
    2213 words | 9 pages
  • Uop Library Manual
    7817 words | 32 pages
  • Auditing, Attestation, and Assurance Services Paper
    1054 words | 5 pages
  • Inventory Systems Paper
    1376 words | 6 pages
  • Irp Manual
    8333 words | 34 pages
  • SOLUTIONS MANUAL to accompany MODERN AUDITING & ASSURANCE SERVICES
    4892 words | 20 pages
  • Inventory Control Automated Office System (Icaos)
    1996 words | 8 pages
  • It Auditing
    2294 words | 10 pages
  • Builtrite - Auditing
    14420 words | 58 pages