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Audit Case

Audit Case. Preliminary Assignment. Review of the Audit Case document. Problem Narration Records and Documents Permanent File Last year’s workpapers Current year’s workpapers Computer Disk Links to Audit Case files. Current Workpapers. Audit Program. Trial Balance.

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Audit Case

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  1. Audit Case Preliminary Assignment

  2. Review of the Audit Case document • Problem Narration • Records and Documents • Permanent File • Last year’s workpapers • Current year’s workpapers • Computer Disk • Links to Audit Case files

  3. Current Workpapers • Audit Program

  4. Trial Balance • Review the spreadsheet • Calculations • “Zero proof”

  5. Permanent File • History & Organization Chart • Chart of Accounts • Minutes • Internal Controls

  6. Document Section

  7. AJEs • On Trial Balance • Number as prepared • Show Account Name under Description • Give appropriate explanation including workpaper reference • Enter credits as negatives

  8. Audit Memos

  9. Other Comments • $100 materiality • Red pencil to record exceptions • Preliminary Assignment – JUST DO 4c AND 4d

  10. Assignment #1 • USE T-x • DO NOT USE T-xa • No prior period workpapers • Voucher 3-17 included as an example

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