audit help
gingervicki
Registered Posts: 87 Regular contributor ⭐
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
they are not seperatley listed in the index and am not sure where to start
Thanks
Vicki
0
Comments
-
What audit area is this? Non current assets/inventory/payables/receivables?
Regards
Steve0 -
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??
vicki0 -
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
Steve0 -
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
Vicki0 -
Thanks Vicki. I am pleased you found it helpful!
Best wishes
Steve0
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