Exam (elaborations)
AUI3702 EXAM PACK 2023
- Course
- Institution
the document has the latest questions and elaborate answers
[Show more]
Seller
Follow
PalmcomWriters
Reviews received
Content preview
AUI3702 EXAMPACK 2023
UPDATED REVISION
PACK
,MAY/JUNE i2014
QUESTION i1
i MULTIPLE
CHOICE1-D
i i
2-A
3-A
4-C
5-D
6-D
7-D
8-B
9-C
10-B
QUESTION i2
2.1.
Weaknesses Controls
Overtime ihours iare inot iapproved iby Having ito iwork iovertime ishould ibe
isection ihead iof isupervisorsiand iapproved iby ithe isection ihead ior ithe
iemployees iwork iovertime ias ithe ifeel. isupervisors
The isecurity ipersonal iwho imans ithe Security ipersonnel ishould ibe ipresent iat
ientrance iis ionly iin iplace iduring ibusy iall itimes ito iensure ithat iemployeesiclocks
iperiods. ionly ionce iwith ithe iclock icard
There iis ino isegregation iof iduties ias There ishould ibe isegregation ion iduties iin
iApple iSmith inow ialmost ieverything iin ithe irespect ito iduties icarried iout iby iapple
idepartment smith iprobably ia isenior ipersonnel iwho
ireviews ithe iduties icarried iout iby ihim
The iclock icards iare inot imade iin iterms iof The ipersonnel idepartment ishould
iauthorized iemployee ilist iprepare ithe iclock icards iin iterms iof ithe
authorized iemployee ilist
No isegregation iof iduties Apple ismith ishould inot iperform iall ithe
iduties, ithere ishould ibe isegregation iof
iduties iin irespect ito iduties iperformed iby
apple ismith
There iare ino iindependentireconciliations Independent ireviews iand ichecks ion ithe
iand ireviews ion ithe iwork iperformed i by iwork iperformed iby iapple ismith ishould ibe
apple ismith iand ithere iare ionly irandom carried iout iregularly iand inot ion irandom
2
REED TUTORIAL (PTY) LTD
www.reedtutorials.co.za
,checks basis
Granny itree icashes ithe icheque, iprepares Segregation iof iduties iis imore iessential iat
ithe ipay ipackets iand iupdates ithe ithis i level ias ifraud ican ibe ifacilitated iby
iaccounting irecords ihaving ione iperson iperforming iall
functions
Employees iare inot irequired ito ipresent Employees iare irequired ito ipresent itheir
itheir iidentification iwhen icollecting itheir iidentificationiwhen icollecting itheir
payment payment
The itwo isenior ipersonnel iwho ihave The itwo isenior ipersonnel ishould ihave
iconducted ithe ipayment ihave inot ireconcile ithe iunclaimed iwages iwith ithe
reconciled ithe iunclaimed iwages iwith ithe iregister
iregister
Question i3
3.1 iExplain istep iby istep ihow iyou iwould iselect ia isample
Establish ithe iobjectives iof ithe isampling iplan
i
-define ithe iextent iand icompositioniof ithe ipopulation
-select ia isampling imethod
-determine ithe isample isize ito ibe itaken
-evaluate iand ireport iresults
Calculate isample isize
Sample isize i= itotal ivalue iof ipopulation
J,Factor
= i500 i000
10869,6 i= i46.10
Calculationiof iJ iFactor
= iprecision
Reliabilityifactor
i
=(0,05 ix i500 i000)
2.3
=10869,6
Sample iinterval i= itotal ivalue iof iPP
Sample isize
3
REED TUTORIAL (PTY) LTD
www.reedtutorials.co.za
, 500 i000
46,10
=10845,99
Ratio ianalysis iwill ibe iused iby ian iauditor iwhen iperformingianalytical
iprocedures.During
i ithe iperformance istage ian iauditor iwhen iauditing
itransactions iand iaccount ibalances, ifor idifferent iclasses iof itransactions
NB iAnalytical iprocedures iare iclassified ias isubstantive iprocedures.
Calculate ithe ifollowing iratios
36.1 iInventory iturnover irate i/ratio i= icost isales
Average iinvent
=21 i000/1100 i000 i+ i100000 i= i20
There iis ia iremarkable iimprovement
36.3. iGross iprofit iRatio
2014
i
Gross iprofit
Sale iX i100
i
=28 i000 i000 i– i21 i000 i000 ix i100
28 i000 i000
=25%
2013
25 i500 i000 i– i18700 i000 iX100
25 i500 i000
=26,67%
The igross iprofit ipercentage ideteriorated iduring ithe icurrent iyear ithis iis iattributable ito
ia idecline iin isales iin irelation ito iincrease iin icost i of isales.
Q37 iThe ishort icomings ion ithe iworking iPaper
4
REED TUTORIAL (PTY) LTD
www.reedtutorials.co.za
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller PalmcomWriters. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $3.00. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79223 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now