Forum Replies Created
- Posts
things to consider
1 mateeriality
2-standard apllicable to senerio
3-classification or any other eror in its application
4-effect on reportthings to consider
1 mateeriality
2-standard apllicable to senerio
3-classification or any other eror in its application
4-effect on reportyes the same.management representation may be oral or written.written is a beteer source of evidence
audit risks
above bussiness risks may be linked to inherent risks n control risks.
however detection risk would be to..
-e-commerce creates a paperless office as all transaction r online,use of caat is imp
-auditor nt havin experiance in ecommerce
-annaylytical review is difficult
-the use of expert might be needed to obtin sufficient appropriate evidenceaudit risks
above bussiness risks may be linked to inherent risks n control risks.
however detection risk would be to..
-e-commerce creates a paperless office as all transaction r online,use of caat is imp
-auditor nt havin experiance in ecommerce
-annaylytical review is difficult
-the use of expert might be needed to obtin sufficient appropriate evidencetiping of is a situation where the mlro(money laundering reporting officer )or individual discloses information that could effect the investigation.or the the suspect get the chance to conceal the fraud.
yes review notes.its good.it is also about iasps 1013 in p7..effect of e-commerce in the financial statement.ithink its imp for this attempt.bussiness risk may be faced by usin e-bussiness such as
1-transaction integity
2-non-copliance with data protection laws.
3.risk of heckars
4-dependency on computer experts.
5.risk of fraud .
there r also some audit risk.is u wish i can explain u?thanks.i have been very unlucky getin 49 marks in my first attempt.plsz try to complete the paper in time.secondly dont forget to review the mark schemes before paper.for all latest paper.it wont take too much time but would be too helpful.eg how examiner has given 5 marks for money laundering answer.1marks for defination,1 marks for second definaton,1mark for eg,2 mark for linkin it with senerio.
camparatives r of two tupes correponding figure n comparatives financial sataement.
corresponding figures r prior year figure such as noncurrent asset figure of 2009 but r to be used with current year figures i-e 2010.
-corresponding figures should nt be identified seperately in audit report except for if
1-audit report of prior year was modified
2-auditor came to know this year that prior year financial statement should be modified
3-coresponding figures audited by other auditor
4-not audited
5-material mistake in coresponding figure.
on the otherhand comparative financial satament are proir year full financial statements.they r identified seperately because audit report refers to each year financial statement.