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Hello
Refering to Question number 74(WESTRA) in new BPP revision kit,Section A)Substantive Procedures for Purchase (For Occurrence Assertion)last two points.Here are they,
Procedure-For a sample of payments made after year end,trace back to computerized payment list.
Purpose-To provide assurance that payment relates to companyb)
Procedure-For a sample of payees on the computerized payment list,trace payment to post year end bank statement.
Purpose-To confirm that payment was made to authorized suppliers of the company.This is what is stated in the answer section.I wonder why the said two purpose came over here as question is for ‘Occurrence assertion’ and what relation it has got with aforesaid two purposes ??
Could anyone please help ? Thanks in advance.
JaisonHi,
If you look closely, you’d see headings, of completeness, occurrence and cut-off and under each heading, 3,4 procedures are given for the verification of a single assertion. You should write the no. of procedures taking into account the numbers allocated for each assertion.
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