Page 86 - Demo

جميع الحقوق محفوظة ـ اإلعتداء عىل حق املؤلف 86 بالنسخ أو الطباعة يعرض فاعله للمسائلة القانونية2- Completeness: Are all are all Existing Acquisitions Are Recorded?  Auditors can trace selected vendors invoice to A/P master file. (EX: Tracing forward) to detect potential misstatements that actual transactions were not recorded (Understatements)  To conduct a meaningful test using this procedure, the auditor must be confident vendors invoice are included in the file. This can be done by accounting for a numerical sequence of the documents. 3- Accuracy: are Acquisitions Are Accurately Recorded?  Auditor depends on recalculations and comparison of information on different documents, many tests can be performed here like:  Recalculate subtotals and totals.  Compare the details on the invoices with receiving reports for description, quantity, and customer identification. Trace the invoices values to the journal and ledger.  Examine purchase orders and receiving reports for the same information. 4- Classification: Are Acquisitions Are Correctly Classified  Auditors must be concerned that transactions are charged to the correct general ledger account. The correct classification of acquisition requires:  Correct classification of purchases in cash and on credit  Clear classification of purchases of assets and purchases of goods. 5- Timing: all transactions recorded in the correct dates?  The auditor should compare the date on selected receiving documents with the date on related vendors invoices, the purchase journal, and the accounts payable master file.  Significant differences indicate potential cutoff problems in the test of yearend balances.