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Internal auditor's responsibility.
-Ensures the reliable reporting process is met.
-Responsible foe assessing most of the high risks in the internal control environment.
-Also in-charge of recommending the design of the system of the internal control for ensuring proper mitigation of fraud.
External auditors' responsibility.
-Helps in enabling the internal auditor to express a given opinion.
-Helps in adoption of an audit of a professional skepticism.
jim items answered the question on March 15, 2019 at 06:28
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Date posted: March 7, 2019. Answers (1)
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Date posted: February 23, 2019. Answers (1)
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Date posted: February 23, 2019. Answers (1)
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Required:
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b) Describe the audit procedures that you would perform in order to be satisfied as to the validity of the amount attributed to stock in the balance sheet of XYZ Supermarket Ltd.
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Date posted: February 23, 2019. Answers (1)
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Date posted: February 23, 2019. Answers (1)
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Date posted: February 23, 2019. Answers (1)
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Date posted: February 23, 2019. Answers (1)
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Date posted: February 23, 2019. Answers (1)
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Date posted: February 23, 2019. Answers (1)
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Date posted: February 23, 2019. Answers (1)
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Date posted: February 23, 2019. Answers (1)
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Date posted: February 23, 2019. Answers (1)
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Required:
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(b) Explain three controls which should be instituted by Ujenzi Ltd to ensure that only authorized persons are allowed access to information on personal files and to input updates for the calculation of wages.
(c) Outline how audit tests could be performed ―around the computer in relation to Ujenzi Ltd‘s payroll
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Date posted: February 22, 2019. Answers (1)
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Date posted: February 22, 2019. Answers (1)