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Audit evidence VS Audit procedure

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AAA Exams › Audit evidence VS Audit procedure

  • This topic has 1 reply, 2 voices, and was last updated 8 years ago by MikeLittle.
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  • November 12, 2016 at 6:24 am #348534
    nethra
    Member
    • Topics: 2
    • Replies: 2
    • ☆

    Hi Mike,

    Can help me check if I have correctly stated audit evidence (AE) for the following audit procedures (AP) :

    Audit of insurance claim:

    1) AP: enquire the basis of amount claimed and review any supporting documentation e.g. Mgmt accounts showing loss.

    AE: agreement of amount claimed to total loss shown in mgmt accounts

    2) AP: review correspondence between the co. and the insurance provider, looking for confirmation of any amounts to be paid.

    AE: correspondences between company and insurance provider on amount to be paid

    3) AP: contact the co lawyer to enquire if there is legal issue on insurance claim

    AE: documentation on any legal issues with regards to insurance claim from company lawyer

    Please correct me if I am wrong. Thank u so much for your help.

    November 12, 2016 at 8:22 am #348558
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23327
    • ☆☆☆☆☆

    “AE: correspondences between company …”

    Put in there “copy of correspondence …”

    And again “AE: documentation on any legal …” put in “copy of …”

    Just remember that procedures start with verbs whereas evidence starts with nouns

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