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Examine expense voucher packages and related vendors’ invoices for approval of expense account classification.

ASSIGNMENT 7-30 (OBJECTIVE 7-4) The following are various audit procedures performed to satisfyspecific transaction-related audit objectives as discussed in Chapter 6. The generaltransaction-related audit objectives from Chapter 6 are also included. Audit Procedures 1. Trace from receiving reports to vendors’ invoices and entries in the acquisitionsjournal. 2. Add the sales journal for the month of […]

Explain the objective of conducting an audit of financial statements and an audit of internal control

ASSIGNMENT Explain the objective of conducting an audit of financial statements and an audit of internal control. Distinguish management’s responsibility for the financial statements from the auditor’s responsibility for verifying those statements. Describe the key elements of an effective professional judgment process. Distinguish between management’s and the auditor’s responsibility for the financialstatements being audited. 2. […]

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