principal audit work

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    queenie
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    anyone know what is the meaning? is it same with audit risk?


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    makechinja
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    hi,
    when a question asks for principal work the examiner is asking you to identify what procedures (A.E.I.O.U) youshould undertake the audit area in question.

    e.g
    inquiry from management or third party
    inspection of documents
    recalculation to confirm figures for accuracy
    observation e.g inventory count

    analytical procedures e,g confirm reasonabliness of estimates or ratio analysis

    hope it helps


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    Anonymous
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    It is not simply AEIOU, see Lisa’s article below which gives greater detail,

    http://www.acca.co.uk/pubs/students/publications/student_accountant/archive/sa_spt09_lw.pdf


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    janney
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    • Topics: 1
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    d- directors
    a-accounting system
    d-data
    a-assets
    3-3rd parties


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    nicole3
    Member
    • Topics: 1
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    This is a good way of remembering the principal audit work thanks a lot

    Does anyone have access to the LSBF mock questions and answers

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