Auditing the transaction cycles

Related BrainMass Solutions

• 1. Explain why sampling is important in the auditing process

  Define inherent risk and explain how this applies to transaction cycles.

• benefits of audit sampling

  Transaction cycles are selected from each of the three categories: Revenue Cycle, Purchase Cycle and the Production Cycle.

• Source of documentation used in business cycles

  that a transaction took place.

• Describe the relationships between cash in the bank and tran

  411870 Describe the relationships between cash in the bank and transaction cycles. Where are you likely to gain the most accurate information? Describe the relationships between cash in the bank and transaction cycles.

• Tests and Procedures for Sales, Payroll, Acquisition Cycles

  How do the cycles differ?

• Auditors Giving Value to Clients

  Inventory Procedures Using Computer-Assisted Audit Tools and Techniques : In your discussion Explain the process and benefits of audit sampling. Assess risks inherent to selected transaction cycles.

• Account Cycles and Auditing

  546171 Account Cycles and Auditing Could you please answer two or three questions below? 1 - Discuss inherent risks for each of the reporting cycles.

• auditing around the computer

  Auditing Around the Computer Given a specific transaction Process transaction through computer Determine result manually Compare and note differences Auditing Around the Computer Easily applied when: Complete visible audit trail Relatively

• Internal controls in auditing

  133050 Auditing - Internal Control - Transaction Cycles 13. For effective internal control, the accounts payable department generally should a. Stamp, perforate, or otherwise cancel supporting documentation after payment is mailed. b.