Practice Problems Ch. 19 (ACCT-422)

Practice Problems Ch. 19 (ACCT-422) - Solutions to Chapter...

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Solutions to Chapter 19 Practice Problems 19-17 a. (1) b. (1) c. (4) 19-18 a. (3) b. (4) c. (4) 19-19 a. (1) b. (4) c. (3) 19-20 a. (2) b. (4) c. (4) 19-23 ITEM NO. a. TYPE OF EVIDENCE USED b. TYPE OF PROCEDURE OBJECTIVE(S) 1 Analytical procedure Analytical procedure Not applicable 2 Confirmation Test of details of balances Existence Completeness Accuracy Cutoff 3 Internal documentation Test of control Completeness 4 Physical examination Test of details of balances Existence Accuracy 5 Recalculation Substantive test of transactions Posting and summarization 6 Analytical procedure Analytical procedure Not applicable 7 Inquiry of client Test of details of balances Completeness Accuracy 8 External documentation (cancelled checks) Substantive test of transactions Completeness Timing Accuracy 9 External documentation Substantive test of transactions Occurrence Accuracy Timing Classification 10 External documentation Test of details of balances Completeness Cutoff Accuracy 11 Recalculation Test of details of balances Accuracy 12 Observation Test of control Occurrence
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19-24 a. No. In a first audit the auditor’s attention cannot be confined to activity in the year under audit because (1) some balance sheet accounts
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Practice Problems Ch. 19 (ACCT-422) - Solutions to Chapter...

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