audit help

gingervicki

Hi im doing a past paper and need some help - how do i check for completeness, validity and existance

they are not seperatley listed in the index and am not sure where to start

Thanks

Vicki

Steve Collings

What audit area is this? Non current assets/inventory/payables/receivables?

Regards
Steve

gingervicki

sales, purchases and stock

im looking for a way to remeber what to do.... i know it seems a bit vague

i have a theory an am not sure if its right.

Completeness is checking everything has been recorded in the right place

validity is checking that they are owned or controlled by the business

existence is checking that the items are actually there


is that right??

vicki

Steve Collings

Hi,

I wrote an article about auditing which covers the assertions which might help you in your studies.

If you have any questions about it when you have read it, just give me a shout.

Best wishes
Steve

gingervicki

Brilliant that was such an informative article and i have now added the ste to my facebook

So i wasnt far off then, i just need to relate those thoughts more to the part i am looking at

Vicki

Steve Collings

Thanks Vicki. I am pleased you found it helpful!

Best wishes
Steve