the following audit procedures were planned by Brienne Tarth, CPA, in the audit of the acquisition...

the following audit procedures were planned by Brienne Tarth, CPA, in the audit of the acquisition and payment cycle for Kings Landing, Inc. Which of the following procedures best satisfies the audit objective of Completeness? A. When the check signer writes "paid" on supporting documents, watch whether she does it after the documents are reviewed and the check is signed. B. Send confirmations to several vendors for which the recorded accounts payable balance is zero, requesting them to inform us of their balance due from Kings Landing, Inc. C. Select a sample of equipment listed on the fixed asset master files and inspect the asset. D. Sample items from the acquisitions journal and agree with them to the related vendor invoices.

Expert Solution

Ans :-

option (D ) is correct .

Explanation :-

Fulfillment is affirming that all exchanges that should be recorded are in certainty recorded. Here the hazard with respect to culmination is by all accounts a modest representation of the truth of records payable by not recording a portion of the solicitations got. So on the off chance that we select a couple of acquisitions on an example premise and consent to the related seller solicitations we will know whether any of them has not been represented.

These options wrong :-

Because ,

Alternative A :-

Does not test culmination, rather tests the event of installment, additionally just aides in understanding the procedure as exchanges recorded when they are not being watched can't be tried along these lines.

Alternative B: -

This tests the precision of exchanges as it's emphasis is on the parity sums.

Alternative C: -

This method is superfluous to obtaining and installment cycle.

ekkarill92 answered 2 years ago

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