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necessary audit procedures

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › necessary audit procedures

  • This topic has 2 replies, 3 voices, and was last updated 15 years ago by carolynb.
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  • May 10, 2010 at 10:27 am #43825
    samiakhter
    Member
    • Topics: 1
    • Replies: 0
    • ☆

    A company has bank borrowing amounting to $ 100,000 (previous year $400,000). Materialty is $150,000. Auditor has verified some loans by sending confirmation leters to the relevant banks. no further work carried out in this area becuse total borroing are less than materiality. has sufficient appropriate audit evidence been obtained.

    May 12, 2010 at 5:49 am #60211
    abbas ali
    Member
    • Topics: 9
    • Replies: 57
    • ☆☆

    Yes he is applying sampling method and confirm few balances and if replies is satisfactory no further work are required.

    I think confirmation is substantive test?

    May 12, 2010 at 7:25 am #60212
    carolynb
    Member
    • Topics: 1
    • Replies: 3
    • ☆

    I need help on how to carry out audit procedures, aclear format

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