Lesson 12

Lesson 12 - Name Jay Patadia Enrollment Number 688430...

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Name: Jay Patadia Enrollment Number: 688430 Course Number: ACCT 3222Z Lesson 12: Auditing the Inventory Management Process 13.12 What are some possible causes of book to physical inventory differences? Possible causes of book to physical differences include: Inventory cutoff errors. Unreported scrap or spoilage. Pilferage or theft. 13-14 d 13-15 a 13-16 c 13-17 b 13-18 d 13-19 c 13-20 d 13-21 b 13-22 d 13-23 d 13-24 b 13-26 d 13-28 a. Evidence found in the working papers to support the fact that the audit was adequately planned and assistants were properly supervised would be: Documentation indicating discussions with client personnel concerning developments affecting the entity that require recognition in the audit plan. Documentation of a preaudit planning conference among audit firm personnel to develop an audit strategy by considering matters noted in the review of prior years' working papers, changes in accounting and auditing standards, etc.
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Lesson 12 - Name Jay Patadia Enrollment Number 688430...

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