This class was created by Brainscape user Nick Duley. Visit their profile to learn more about the creator.
By:
Nick Duley
- decks
- flashcards
- learners
Decks in this class (98)
Selecting Items for Testing (1)
What is the overall aim of the ex...,
Why does auditor not test everything,
What does isa 500 state
9
cards
Selecting Items for Testing (2)
Selecting all items common,
Selecting all items appropriate f...,
Selecting all items appropriate f...
6
cards
Audit Sampling
What is audit sampling,
What are the two types of sampling,
What does non statistical samplin...
8
cards
Statistical Sampling
What does statistical sampling us...,
What does statistical sampling us...,
Examples of statistical sampling ...
10
cards
Advantages and disadvantages of Value Weighted Selection
Advantage of value weighted selec...,
Advantage of value weighted selec...,
Disadvantage of value weighted se...
5
cards
Sampling Risk (1)
What is sampling risk,
What must auditor determine,
What if the auditor judges that s...
7
cards
Sampling Risk (2)
What is required confidence level...,
What is required confidence level...,
What is expected error effect on ...
6
cards
Evaluation of Sample Results
What should be done once the audi...,
Auditor consider when there are e...,
Auditor consider when there are e...
8
cards
Tests of Details
What happens where sampling has b...,
What happens where an error has b...,
What if evaluation of sample resu...
5
cards
Automated tools and Techniques
What are automated tools techniques,
What do automated tools and techn...,
Advantage of automated tools and ...
10
cards
Audit Software substantive procedures
What does audit software consist of,
What may audit software for subst...,
What does generalised audit softw...
10
cards
Audit Software Use
How can audit software be used for,
Examples of selecting information,
Examples of selecting information
7
cards
Test Data (1)
What is test data techniques comapre,
What is test data compare results,
Wh
9
cards
Test Data (2)
What can invalud data include,
What do some computer systems have,
What may embedded test facility c...
4
cards
Audit Data Analytics (1)
What is a big data,
What is data analytics,
What happens as the quantity of d...
10
cards
Audit Data Analytics (2)
How auditors might use data analy...,
How auditors might use data analy...,
How auditors might use data analy...
3
cards
Using Work Of Management's Expert (1)
What is an expoert,
What is a management s expert,
What may auditor be able to use w...
8
cards
Auditing Accounting Estimates (1)
What is an exmaple of accounting ...,
Other examples of accounting esti...,
Other examples of accounting esti...
6
cards
Auditing Accounting Estimates (2)
When do management often make the...,
What if risk of misstatement is i...,
What is auditor required to do
3
cards
Intangible Non-Current Assets
Intangible assets are identifiabl...,
Examples of intangible assets,
Accounting for intangibles is pre...
9
cards
Research and Development Expenditure
What is included in ias 38,
What is research,
What is development
11
cards
Audit Procedures for Non-Current Assets (1)
Completeness summary reconcile open,
Examples of this open position,
Completeness compare non current ...
11
cards
Audit Procedures for Non-Current Assets (2)
Valuation verify,
Consider reasonableness of valuat...,
Consider reasonableness of valuat...
8
cards
Audit Procedures for Non-Current Assets (3)
Valuation revaluation losses,
Accounting actions for revaluations,
Valuation depreciation review dep...
8
cards
Audit Procedures for Non-Current Assets (4)
Valuation depreciation charged on...,
Valuation depreciation revalued a...,
Valuation depreciation depreciati...
11
cards
Audit Procedures for Non-Current Assets (5)
Rights verify title,
Rights and obligations certificate,
Rights and obligations purpose
10
cards
Audit Procedures for Non-Current Assets (6)
Additions inspection,
Additions review expenditure,
What should review capitalisation...
5
cards
Audit procedures for non-current assets (7)
Goodwill sales agreement,
Goodwill valuation,
Goodwill recalculation
8
cards
Audit Procedures for Non-Current Assets (8)
Research and development costs ca...,
Research and development costs in...,
Research and development costs am...
4
cards
introduction to Auditing Inventory (Audit Approach)
What must the audit approach cons...,
What does quantity consider,
What does valuation consider
6
cards
Physical Inventory Count
What is a particular technique to...,
Why are physical inventory count ...,
What does isa 501 state
9
cards
Planning the Inventory Count
What is done before the physical ...,
Consider when planning attendance...,
Consider when planning attendance...
8
cards
Inventory held by third parties
When does auditor obtain sufficie...,
Where entity has inventory that i...,
Where entity has inventory that i...
3
cards
Attendance at Inventory Count
What auditors observe wduring inv...,
What auditors observe wduring inv...,
What auditors observe wduring inv...
3
cards
Audit Procedures during Attendance at the Inventoru Count
What do audit procedures include ...,
What do audit procedures include ...,
What do audit procedures include ...
9
cards
Performing Test Counts
What should auditors perform,
What should auditor do to gain ev...,
What should auditor do to prove e...
5
cards
Documentation of Audit Work Performed during the Count
Auditors working papers include o...,
Auditors working papers include m...,
Auditors working papers include s...
5
cards
After the inventory count (1)
What happens after the count,
Key tests include trace items,
Key tests include sequence
6
cards
After the inventory count (2)
Key tests include serial number,
Key tests include third parties,
Key tests include client computation
5
cards
Cut-off testing (1)
What is cut off testing,
How is it usually tested,
Purchases cut off purchases goods
10
cards
Continuous Inventory Counting
What are phusical inventory count...,
Physical inventory counts before ...,
Physical inventory counts before ...
8
cards
Continuous Inventory Counting (2)
Continuous inventory management,
Continuous inventory modern compu...,
Continuous inventory monitoring
8
cards
Accounting for Inventory
What does ias 2 require,
What is cost,
What is nrv
8
cards
Auditing Inventory Valuation
What should auditing the valuatio...,
What should auditing the valuatio...,
What does estimating the net real...
4
cards
Using the Work of an Auditor's Expert (1)
What may an expert be used to,
What can the auditor s expert be ...,
Examples of areas other than inve...
4
cards
Audit Procedures for Inventory (1)
Completeness inventory listing,
Completeness physically inspect,
Completeness review confirmations
9
cards
Audit Procedures for Inventory (2)
Accuracy valuation and allocation...,
Accuracy valuation and allocation...,
Accuracy valuation and allocation...
10
cards
Audit Procedures for Inventory (3)
Accuracy valuation and allocation...,
Accuracy valuation and allocation...,
Accuracy valuation and allocation...
8
cards
Audit Procedures for Inventory (4)
Accuracy valuation and allocation...,
Accuracy valuation and allocation...,
Accuracy valuation and allocation...
6
cards
Audit Procedures for Inventory (5)
Cut off gdn grn,
Classification inventory listing,
Classification notes inventory
6
cards
Usingf the Work of an Auditor's Expert
When may an expert be used,
An example in valuation,
What is an auditor s expert
6
cards
Using the Work of Internal Audit (1)
What can auditor rely upon,
What happens during the course of...,
What may be reduced
8
cards
Using the Work of an Internal Audit (2)
What does isa 610 require,
What does isa 610 obtain,
What must be done before using th...
10
cards
Using the Work of an Internal Audit (3)
What does isa 610 require,
What might audit procedures inclu...,
What might audit procedures inclu...
5
cards
Direct Assistance
What does direct assistance refer to,
Isa 610 prohibits the use of inte...,
Isa 610 prohibits the use of inte...
6
cards
External Confirmation (1)
What is external confirmation,
What does external confirmation test,
What does isa 505 cover
10
cards
External Confirmation (2)
Which method is generally preferable,
What provides less persuasive aud...,
Exemptions
7
cards
External Confirmation (3)
External confirmation for receiva...,
External confirmation for receiva...,
External confirmation for receiva...
8
cards
External Confirmation (4)
Following balances should be incl...,
Following balances should be incl...,
Following balances should be incl...
6
cards
External Confirmation (5)
What is an exception,
What is a non response,
What results in an exception
11
cards
Cut-off Testing
What if a set of financial statem...,
What is linked
2
cards
Other Audit Procedures (1)
Best way to generate a wide range...,
Best way to generate a wide range...,
Best way to generate a wide range...
8
cards
Other Audit Procedures (2)
Receivables review monies audit c...,
Receivables direct confirmation c...,
Receivables balances year end sal...
6
cards
Revenue (1)
What does audit of revenue require,
Step 1 of auditing revenue,
Step 2 of auditing revenue
10
cards
Revenue (2)
Where are analytical prcedures im...,
What will a client likely have,
What should auditors consider rev...
8
cards
Revenue (3)
What can be done as well as analy...,
1st step of a directional test,
2nd step of a directional test
6
cards
Revenue (4)
Revenue sales invoices price list...,
Revenue discounts applied invoice...,
Revenue discounts applied invoice...
7
cards
Testing Prepayments
Completeness compare prepayments ...,
Review sofp prepayments,
Accuracy valuation and allocation...
4
cards
Bank and Cash
What does cash in the financial s...,
What do most accounting transacti...
2
cards
Bank Confirmation Letter
What is a common procedure for th...,
What are bank confirmation letters,
Why bank confirmation letters are...
9
cards
Choosing where to send a Confirmation Request
What impacts the auditor s decisi...,
What impacts the auditor s decisi...,
What impacts the auditor s decisi...
4
cards
Written Authority
What do banks require,
What form does written authority ...,
What must auditors request refer to
5
cards
Preparation and Despatch of Bank Confirmation Letter
What is the responsibility of the...,
What are ways of seeking confirma...,
What are ways of seeking confirma...
11
cards
Replies
How should replies be returned,
How may difficulty may be encount...,
What is significant confirmation
4
cards
Agreement to Client Records
What happens for any response rec...,
What should happen with any diffe...
2
cards
Cut-off Testing
What is done when auditing cash b...,
What is window dressing,
Window dressing example cash book...
9
cards
Audit Procedures for Bank (1)
Bank bank confirmations client au...,
Bank cheques bank reconciliation ...,
Bank cash book items outstanding ...
8
cards
Audit Procedures for Bank (2)
Bank arithmetic reconciliation va...,
Bank reconciliation year end item...,
Bank contra items bank statements...
7
cards
Audit of Cash Balances
What are cash balances floats often,
What can happen in enterprises su...,
Why are cash counts important
6
cards
Payables, purchases and accruals (Internal control considerations)
What is the audit of payables clo...,
What are the controls over purcha...,
What is a specific control often ...
6
cards
Focus on Understatement
How is accounts payable similar t...,
What is the test of controls on t...,
What should auditors be particula...
6
cards
Confirmation of Trade Payables (1)
Why is undertaking confirmation o...,
What happens where an entity s in...,
What does confirmation of trade p...
7
cards
Confirmation of Trade Payables (2)
What do auditors use,
What are the characteristics of t...,
What happens when confirmation is...
6
cards
Cut-off
What if a set of financial statem...
1
cards
Other audit procedures: Payables and Accruals
What represents completeness and ...,
Example of the comparison in comp...,
What represents rights and obliga...
6
cards
Other Audit Procedures: Purchases and Other Expenses
Inspect purchase invoices,
Compare administrative expense in...,
Enquire management unsettled claims
5
cards
Other audit procedures: payroll (1)
Reconcile gross costs,
Reperform payroll records,
Confirm payment net pay
11
cards
Audit Considerations relating to an Entity using a Service Organisation
What do many companies now do wit...,
What is a service organisation,
What is a user entity
7
cards
Non-current Liabilities (1)
What do non current liabilities i...,
What will auditors try to determine,
What is completeness
9
cards
Non-current Liabilities (2)
Completeness breakdown liabilitie...,
What is repayment in completeness,
What is inclusion in completeness
8
cards
Accounting for Provisions and Contingencies (1)
What is provision,
What is a liability,
What is an obligating event
8
cards
Accounting for Provisions and Contingencies (2)
What is a contingent liability ev...,
What is a contingent liability pr...,
Why is present obligation not rec...
9
cards
Capital (1)
What does capital include,
What must issued share capital state,
What should be done where a compa...
7
cards
Audit procedures for share capital, distributions and reserves (1)
Share equity capital share capita...,
Share equity capital changes shar...,
Issue of shares issue general boa...
10
cards
Audit procedures for share capital, distributions and reserves (2)
Dividends dividends authority cal...,
Dividends documentary payments,
Dividends contravene provisions
7
cards
Directors' Emoluments
What happens with directors emolu...,
What is important with director s...
2
cards
Audit procedures for directors' emoluments (1)
Existence emoluments disclosed fs...,
What should the schedule of emolu...,
Existence pension contribution
9
cards
Audit procedures for directors' emoluments (2)
Accuracy valuation and allocation...,
Accuracy valuation and allocation...,
Classificatiion and presentation ...
4
cards
More about
AA (Bookshelf 4)
- Class purpose General learning
Learn faster with Brainscape on your web, iPhone, or Android device. Study Nick Duley's AA (Bookshelf 4) flashcards now!
How studying works.
Brainscape's adaptive web mobile flashcards system will drill you on your weaknesses, using a pattern guaranteed to help you learn more in less time.
Add your own flashcards.
Either request "Edit" access from the author, or make a copy of the class to edit as your own. And you can always create a totally new class of your own too!
What's Brainscape anyway?
Brainscape is a digital flashcards platform where you can find, create, share, and study any subject on the planet.
We use an adaptive study algorithm that is proven to help you learn faster and remember longer....
Looking for something else?
WSET ® Level 4 D2 Business of Wine
- 7 decks
- 160 flashcards
- 588 learners
Decks:
Supply And Demand Factors Affecting Pric, Supply Chain, How To Get Wine To The Point Of Sale, And more!
aa Orgo
- 196 decks
- 14277 flashcards
- 51 learners
Decks:
Medsurg 3 Part 6, Hesi Tissues, Hesi Bones And Skeletal Tissue Surface F, And more!
