- I would confirm for the company's policy and procedures in regard of advancing loans to
the employees
- I would confirm with the employee if the amount recorded in the books of accounts is the
same amount that he/she was given
- I would inquire for the terms and agreement during the issue of the loan such as mode of
payment and confirm if such agreements are adhered to.
- I would confirm if the employee in the books really exist and is eligible for loan
advancement by the company.
- I would ascertain for the loan limit to employees and if such was observed by the
company
- I would also ascertain for the authority and approval of the issuing of loans to employees.
Kavungya answered the question on May 14, 2019 at 13:33
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Justify the use of previous year's financial statements while carrying out an audit assignment.
(Solved)
Justify the use of previous year's financial statements while carrying out an audit assignment.
Date posted:
May 14, 2019
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Answers (1)
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Explain five benefits of an asset register to the auditor.
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May 14, 2019
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Discuss five assertions that an auditor should consider during the conduct of substantive
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May 14, 2019
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May 14, 2019
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ii....
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May 14, 2019
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The appropriateness of audit evidence is concerned with relevance and reliability
Required;-
Explain any three considerations that an auditor uses to assess the reliability of any piece...
(Solved)
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Date posted:
May 14, 2019
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Answers (1)
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a) Explain six limitations of gathering audit evidence.
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(Solved)
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Date posted:
May 14, 2019
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Answers (1)
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a) Standardisation of working papers refers to a predetermined Format of presenting and
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(Solved)
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Date posted:
May 14, 2019
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Answers (1)
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An auditor should perform procedures to obtain information that is used to identify the risks of
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Highlight the audit procedures you would...
(Solved)
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Date posted:
May 14, 2019
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Answers (1)
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Date posted:
May 14, 2019
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Answers (1)
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List two techniques that could be used by a firm to minimize errors.
(Solved)
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May 14, 2019
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Highlight four types of fraud that could occur in an accounting and internal control system over
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(Solved)
Highlight four types of fraud that could occur in an accounting and internal control system over
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Date posted:
May 14, 2019
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Answers (1)
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List the circumstances that indicate the presence of errors, irregularities and frauds in an entity
(Solved)
List the circumstances that indicate the presence of errors, irregularities and frauds in an entity
Date posted:
May 14, 2019
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Answers (1)
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Propose three ways in which a company might prevent or minimise accounting errors.
(Solved)
Propose three ways in which a company might prevent or minimise accounting errors.
Date posted:
May 14, 2019
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Answers (1)
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(Solved)
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Date posted:
May 14, 2019
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Answers (1)
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The opening statement of ISA 315 paragraph 64 notes that "internal control no matter how well
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(Solved)
The opening statement of ISA 315 paragraph 64 notes that "internal control no matter how well
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Date posted:
May 14, 2019
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Answers (1)
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The risk of fraud in the sales systems of XYZ Ltd. has been assessed as higher than normal.
Briefly describe how the assessment would influence your...
(Solved)
The risk of fraud in the sales systems of XYZ Ltd. has been assessed as higher than normal.
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Date posted:
May 14, 2019
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Answers (1)
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Describe the audit procedures you would carry out when auditing a charity organisations:
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(Solved)
Describe the audit procedures you would carry out when auditing a charity organisations:
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Date posted:
May 14, 2019
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Answers (1)
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The auditor has a duty to certify the amount of stock in the financial statement.
Outline the auditor's duties before stocktaking in a manufacturing enterprise.
(Solved)
The auditor has a duty to certify the amount of stock in the financial statement.
Outline the auditor's duties before stocktaking in a manufacturing enterprise.
Date posted:
May 14, 2019
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Answers (1)
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Highlight seven limitations of an internal control system in an organisation.
(Solved)
Highlight seven limitations of an internal control system in an organisation.
Date posted:
May 14, 2019
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Answers (1)