Exam 2 Topics Lsit (4 6 7 SAS99)

Exam 2 Topics Lsit (4 6 7 SAS99) - •...

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ACCT 407 Auditing Exam Two Topics List Ethics Ethical principles and Ethical rules Independence in fact Independence in mental attitude Covered persons and independence Confidentiality of client information Conduct of the audit—attitude and behavior Auditor response to fraud/illegal acts Auditor responsibility for fraud Steps in auditor’s consideration of fraud and how the auditor executes each Application of SAS No. 99 concepts to situations SAS No. 99 risk factors—examples and how they relate to the fraud triangle Cycles Assertions Objectives—transaction related and balance related You should be able to associate certain types of evidence with the assertions Sufficient, competent evidential matter. Third standard of fieldwork and its interpretation. Audit evidence decisions Factors affecting the persuasiveness of audit evidence sufficiency competence or appropriateness. relevance—which types of tests apply to which assertions (direction of testing)
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Unformatted text preview: • reliability—hierarchy of audit evidence, independence of provider, directness knowledge, strength of ICS, qualifications of provider, degree of objectivity timeliness • Types of audit evidence • physical examination or inspection of tangible assets • observation • confirmation • types—positive (regular and blind) and negative • administration • documentation (or inspection of records and documents) • direction of testing • vouching (existence/occurrence) • tracing (completeness) • reperformance • analytical procedures • timing • sources of expectation—types • purpose—use as indicators of going concern and misstatement • Types of Audit Tests (reemphasized in chapters 8, 9, and 10) • Procedures to gain an understanding of internal control • Tests of controls • Substantive tests • analytical procedures • substantive tests of details • of transactions • of balances...
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This note was uploaded on 02/09/2011 for the course ACCT 407 taught by Professor Smith during the Spring '11 term at University of Louisiana at Lafayette.

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