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Aud339 - Auditing
Auditing (AUD339)
Universiti Teknologi MARA
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- AUD339 Scheme of Work - October 2021 – February
8- 9 a-to PRE μ ,, - cash ÷ ✓ I t ÷ * * *
->under current files Anditplans, audit programs, working trial balance
- -> notes
- Test ofcontrol (approval) · selecta sample ofPPE acquired during the FT and vouch back to documentations thatapproves the purchase. Checkthe approves has the appropriate levels authority. PPE
- ↑
- ProCeSS Testfor approval ①Requestapurchase quote * ② Approval process - Delegated authority ↑spending -> evidence -> notify ↑ layers ofapproval accounting ③ ordering by purchasing department ④ Receive PPE -> notify accounting ⑤ Getthe PPEontotheFAR (FixedAssetRegister
- prepared
- barcode - price, insurance,
3 approved
-> Acquisition costdelivery, setup, installation, training -> Testofcontrol -> a pepreciation method useful life crouching for approval
- residual salvage value check) -> Depreciation recognition selectexample dispose asset ⑥ sell or dispose ofPPE* and gather documents looking forevidence of approval. Approval? segregatedties, Quotes]
- PPE Removed from FAR (signoff) ↓ prepared by
- substative produces Gain/loss on sale prepared approved A and
- Existence - rouch a sample ofPPEfrom theFAR and approved by B. physically inspectthe items. Somake sure they are writing offPDE ↑
- check ifthere Accuracy,valuation allocation acquisition * Check thatIE are being recorded correctly issegregation of
1
physically existed) CrAD testofcontrol 7 * Additions - selecta sample PPEacquisitions and trace in line tothe chartofAccounts duties to inclusion on the FAR. check the costs included in the -collectevidence to if acquisition and recalculate. -> after acquisition * Disposals - for disposals - checkthat prove this, F * Netvalue - accumulated depreciation - select example and item has been removed from FAR recalculate and re-estimate depreciation. -> refer to accounting recalculate the gain/loss on sale disposal what and check thatmatches the JE (journal entries). to check ↑ M. A. D-data standards · cutoff-make sure what ↓method is assumptions *Depreciation expense you cutis completeness appropriate -checking whether PPEwe see can be found on theFAR. · occurrence ->Dr Depexmulated Rights obligations · Accuracy -> gathering evidence (MAD method)
- check purchase contracts for PPE (tomake sure ifwe received ownership) · classification -> making sure AD calculated/ exchange was the PPEleased? (different) · completeness -> Analytical procedures FA-PPEX20% depex q /.?
Aud339 - Auditing
Course: Auditing (AUD339)
University: Universiti Teknologi MARA
