AUDITING SP 2008 CH 20 COMPLETING ACQ CYCLE (MISC)

Auditing and Assurance Services (12th Edition)

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HOW TO DETECT UNRECORDED DISPOSALS OF FIXED ASSETS REVIEW REPLACED OLD ASSETS REVIEW INS COVERAGE AND PLANT MODIFICATIONS. INQUIRE READ NEW LOAN AGGREMENTS (COLATTERAL) LOAN CONFIRMATIONS TESTS OF CONTROLS SHOULD UNCOVER THIS ERROR PREPAID INSURANCE DEPRECIATION & ACCUM DEPR FOR PREPAID INSURANCE OFTEN TIMES ANALYTICAL PROCEDURES WILL SUFFICE.
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Unformatted text preview: 1/1/07 PREPAID INSURANCE BALANCE PLUS PREMIUMS PAID LESS ENDING PREPAID INSURANCE BALANCE EQUALS INSURANCE EXPENSE FOR THE YEAR SEARCH FOR UNRECORDED LIABILITIES: EXAMINE RECEIVERS PRE & POST YEAR-END EXAMINE UNPAID INVOICE FILE REVIEW VENDOR STATEMENTS & COMPARE TO DETAIL CONFIRM CLIENTS DOING BUSINESS WITH CO & ZERO BALANCE CONFIRMS OFTEN A/P CONFIRMS NOT NEEDED DUE TO OTHER AUDIT EVIDENCE....
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This document was uploaded on 04/07/2008.

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