Auditing Principles and Procedures

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Assignment (2)

Course Name: Auditing Principles and ProceduresStudent’s Name:
Course Code: ACCT401Student’s ID Number:
Semester: third semesterCRN:
Academic Year: 1444 H

For Instructor’s Use only

Instructor’s Name:
Students’ Grade:           /15Level of Marks: High / Middle / Low

Instructions – PLEASE READ THEM CAREFULLY

  • The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.
  • Assignments submitted through email will not be accepted.
  • Students are advised to make their work clear and well presented; marks may be reduced for poor presentation. This includes filling your information on the cover page.
  • Students must mention question number clearly in their answer.
  • Late submission will NOT be accepted.
  • Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
  • All answers must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism.
  • Submissions without this cover page will NOT be accepted.

Assignment Question(s):                                                    (Marks 15)

IMPORTANT NOTES: Answer in your OWN words, DO NOT COPY from slides, fellow students, or internet sources without proper citation.

Q1. What are the substantive analytical procedures used to test the revenue process? Explain what assertions about class of transactions the auditor applies to collect the evidence.

Your answer should have a minimum of 150   words. (5 Marks)

Q2. Explain major inherent risks in the payroll cycle. Give examples of documents that auditors should review to identify those risks.

Your answer should have a minimum of 150 words. (5 Marks)

Q3. You are the senior auditor in an engagement and are at the stage of performing the test of details of a franchise contract in the audited company. Provide examples of transactions and documents you will be using in the test.

Your answer should have a minimum of 150 words. (5 Marks)