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Unformatted text preview: 16-20 A.4 B.4 C.216-21 A.4 B.2 C.216-22 A.2 B.1Auditing Lecture Notes-Chapter SixteenCompleting Tests in the Sales & Collection CycleOpening Vignette Discussion- Quality of evidence is more important than Quantity. Quantity cannot compensate for poor Quality. Negative confirmations cannot be used if controls are weak and should not be used as the only source of evidence!Designing Tests of Details of Balances for the Sales & Collection Cycle Figure 1 and Figure 2u do not need to memorize. There is a relationship at looking at balance related objectives and balance related objectivesQuiz 9 will pull together transaction related audit objectives and balance related audit objectives, they pull them together. 9 M.C questions for this one.Remember with Details of Balances you are focusing on different objectives than with transaction testing: We have already talked briefly about Analytical Procedures and we know that:They are performed at various times during the audit:*planning*testing- optional...
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This note was uploaded on 11/30/2009 for the course ACCT 411 taught by Professor Jackson during the Fall '09 term at Michigan State University.
- Fall '09