Auditing and Assurance Services 1st Edition by Iris Stuart

تمرين 15

Performing substantive tests of transactions. The following audit steps are part of the audit program for the revenue process. Indicate the assertion supported by the evidence gathered in performing each procedure.
a. Select a sample of sales invoices from the sales journal.
(1) Vouch to the supporting shipping document.
(2) Determine whether credit was approved.
(3) Vouch prices on the invoice to the approved price list.
(4) Compare the amount billed to the amount shipped.
(5) Recalculate the invoice.
(6) Compare the shipping date with the invoice date.
(7) Trace the invoice to the posting in the control account for accounts receivable and the general ledger control account.
b. Select a sample of shipping documents from the shipping department file and trace the shipments to the recorded sales invoices.
c. Scan the sales invoices and the shipping documents for missing numbers in sequence.