Advanced Application of the Audit Process

Upon completion of this course, you will be able to understand:

The methodology for designing tests of controls and substantive tests of transactions audit procedures for sales, cash receipts, and the other classes of transactions in the sales and collection cycle.
Non-statistical and statistical sampling methods for tests of controls and substantive tests of transactions.
The methodology for designing audit procedures for the audit of accounts receivable and other balances in the sales and collection cycle.
Audit sampling for tests of details of balances.
The audit of the acquisition and payment cycle, including the audit of accounts payable and other liability accounts.
The audit of the payroll and personnel cycle.
The audit of the inventory and warehousing cycle, including physical observation tests and the relationship of the inventory and warehousing cycle to other cycles.
The audit of the capital acquisition andrepayment cycle.
The audit of cash and investment balances.