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Q 51 (c) Kaplan ask re the AUDIT PROCEDURES to be compiled by the auditor in performing a forensic investigation on the alleged bribery
could you kindly confirm whether inspecting CF to verify whether payments were shown in the CF statement and corroborating these figures with the figures of the IA team will be correct?
also by asking the IA audit team for documentation showing internal controls being applied prior to a sale would this consitutue a good PROCEDURE?
Thanks
I do not have a copy of the kit so do not know which question you are referring to. I don’t think any financial statement can be a source of audit evidence (that is what the auditor audits) – it is the underlying books, records and documents that must be examined.
Your second point doesn’t sound like a good procedure – if the auditor wants to rely on a control he must test it himself.
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