Aanna Lukasik

aAnna Lukasik Acc 422-8909 Q 8-31 1. Not required during this stage 2. significant testing 2. Should focus on enhancing the auditors understanding of the auditors understanding of the clients subscriber line and the transactions and events that have occurred since the last audit date. 1 Planning 3. Should focus on identifying areas that may pay off specific risks relevant to the audit. 1. Planning 4. Do not result in detection of misstatements. 4 disceptation is not correct concerning anatical procedures 5.Designed to obtain evidential matter about particular assertions related to account balances or classed of transactions. 2 Substantive testing 6. Generally use data aggregated at a begin level than the other stages. 2 Substantive testing 7. Should include reading the financial statements and notes to consider the adequacy of evidence gathered 3. Overall review 8. Involve reconciliation of confirmation replies with recorded book amounts 4 Statement is not correct conce rning analytical procedures 9. Use of preliminary or unadjusted working run balance as a source of data 1 Planning the audit 10.Expected to result in reduced level of detection risk 2 Substantive testing Q-30 a) The minutes of each group meeting refer to the minutes of previous meeting. In addition the auditor should obtain the next course of instructions minutes, probably for February 2010, to make sure the previous minutes referred to were those from September 16, 2009. b) Information relevant to 2009 analyse Audit Action Required February 15 1. Approval for increased distribution During analytical procedures, an Costs of $500 000. ncrease of $500000 should be expected for distribution costs 2. Unresolved tax dispute. Evaluate resolution of dispute and adequacy of apocalypse in FS 3. Computer equipment donated. Determine that old equipment was correctly treated in 2008 in the statements and that appropriate implication was taken 4. Annual cash dividend. Calculate total di vidends to determine that dividend was correctly recorded. 5. Officers bonuses. Determine were paid in 2009. Consider the tax implications of unpaid bonuses to officers.September 16 1. 2009 Officers elected. Inform staff of possibility of related party transaction. 2. Officers wages information. Note information in audit files for 2010 audit. 3. Pension and take in sharing plan. Determine if the pension/profit sharing plan was approved. If so make sure all assets and liabilities have been correctly recorded. 4. Loan. Examine support documentation of loan and confirm loan information with bank. 5. Aquistation of new computers syst Determine of disposal of the 1 year old equipment and check the recording of the operations. 6. Auditor Selection