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AUI3702 Assignment 2
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AUI3702 Assignment 2
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QUESTION 11.1.1:
a) Evidence obtained from the client
b) Evidence obtained from the client
c) Evidence obtained directly by the auditor
d) Evidence obtained from the client
1.1.2:
a) Testimonial evidence
b) Documentary evidence
c) Physical evidence
d) Documentary evidence
1.1.3:
a) Less reliable - The warehouse manager's statement could be biased.
b) Reliable - A photocopy of the confirmation of balance provides accurate and reliable information.
c) Highly reliable - Physical evidence obtained through inspection is considered highly reliable.
d) Reliable - The work-in-progress certificate is a document from an independent party and can be
considered reliable.
QUESTION 2
2.1) Audit Objective
a) To ensure that only valid purchases are recorded.
b) To ensure that all goods received from suppliers are recorded.
c) To ensure that liabilities are not understated.
d) To ensure that purchases are recorded in the correct period.
2.2) Audit Engagement Procedures
a) Review and test purchase orders to ensure authorisation and accuracy.
b) Select a sample of goods received and ensure they are matched with purchase orders and
recorded.
c) Review and test accounts payable, accruals, and other balance sheet accounts for completeness
and accuracy.
d) Review the cutoff procedures for purchases and goods received and perform tests on transactions
around the year-end.
QUESTION 3
Policies, procedures, and control activities that should be in place at The Cashbox over the collection
of cash from the cash registers, the recording of cash sales, and the banking thereof:
1. Cash Handling
- Only authorised personnel should be allowed to handle cash.
- Cash should be secured in the register or the lockable drawer at all times, except when making
change for a customer.
- Cash should be counted and reconciled against the register's tape at the end of each shift.
2. Sales Recording
- All sales must be rung up on the register.
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