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principal audit work

This topic has 4 replies, 5 voices, and was last updated 13 years ago by nicole3.

Viewing 5 posts - 1 through 5 (of 5 total)

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October 6, 2011 at 10:34 am #50013
queenie
Member
- Topics: 9
- Replies: 13
anyone know what is the meaning? is it same with audit risk?
October 7, 2011 at 10:28 am #88618
Anonymous
Inactive
- Topics: 0
- Replies: 19
hi,
when a question asks for principal work the examiner is asking you to identify what procedures (A.E.I.O.U) youshould undertake the audit area in question.
e.g
inquiry from management or third party
inspection of documents
recalculation to confirm figures for accuracy
observation e.g inventory count
analytical procedures e,g confirm reasonabliness of estimates or ratio analysis
hope it helps
October 17, 2011 at 12:24 pm #88619
Anonymous
Inactive
- Topics: 0
- Replies: 3
It is not simply AEIOU, see Lisa’s article below which gives greater detail,
https://www.acca.co.uk/pubs/students/publications/student_accountant/archive/sa_spt09_lw.pdf
October 22, 2011 at 1:43 am #88620
janney
Member
- Topics: 2
- Replies: 2
d- directors
a-accounting system
d-data
a-assets
3-3rd parties
October 24, 2011 at 1:48 am #88621
nicole3
Member
- Topics: 1
- Replies: 5
This is a good way of remembering the principal audit work thanks a lot
Does anyone have access to the LSBF mock questions and answers
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