L10 Notes_Part_13 - E. Ask about the process for making...

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P5: Choosing the Best Audit Procedures C . Confirming a year-end bank balance with the bank versus checking it with the bank statement Confirmation/examination of documents and records Confirmation is stronger evidence since it is obtained directly from an independent third party D. Observing inventory counting procedures versus requesting confirmation of inventory held by an independently-run warehouse Physical examination/confirmation Physical examination is first hand information which is superior to that gained from an independent third party.
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Unformatted text preview: E. Ask about the process for making price changes to the computer system versus observing the process of updating prices Inquiry/observation Observations is more persuasive because it is first hand information. Test Taking Test Score = f(ability, knowledge, time, motivation) Given everyone is highly motivated and ability and knowledge are fixed at the moment the exam begins, the variable most under your control during the test is time. More generally: Performance = f(ability, knowledge, environment, motivation)...
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This note was uploaded on 10/05/2011 for the course ACG 5637 taught by Professor Monikacaushoulli during the Fall '08 term at University of Florida.

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L10 Notes_Part_13 - E. Ask about the process for making...

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