General Audit

AUDIT VERIFICATION -INVENTORY CHAPTER OBJECTIVE 1. INVETNORY VALUATION 2. INVENTORY COUNT 3. THE AUDITOR’S WORK ON INVENTORY VALUATION ……………………………………………………………………………………………………….. 1.

AUDIT VERIFICATION – NON-CURRENT ASSETS CHAPTER OBJECTIVE 1. NON-CURRENT ASSETS 2. COST OR VALUATION 3. LEASE AND NON-DEPRECIATION OF NON-CURRENT ASSETS

AUDIT VERIFICATION – RECEIVABLES AND CASH & BANK CHAPTER OBJECTIVE 1. THE AUDIT OF RECEIVABLES 2. THE AUDIT OF BANK

AUDIT VERIFICATION – LIABILITIES CHAPTER OBJECTIVE 1. LIABILITIES 2. TRADE PAYABLES –SUBSTANTIVE PROCEDURE 3. OVERDRAFTS AND LONG-TERM BANK LOANS 4. ACCRUALS

COMPUTERS IN AUDIT CHAPTER OBJECTIVE 1. THE USE OF COMPUTERS IN MANAGING THE AUDIT 2. INTERNAL CONTROL IN COMPUTER-BASED SYSTEMS

AUDIT- THE FINAL REVIEW STAGE CHAPTER OBJECTIVE 1. THE OVERALL REVIEW OF THE FINANCIAL STATEMENTS 2. THE GOING CONCERN REVIEW

THE AUDIT REPORT LEARNING OBJECTIVES 1. FORMAL AUDIT REPORT 2. THE UNMODIFIED AUDIT REPORT 3. THE MODIFIED AUDIT REPORT 4.

THE AUDITOR’S LIABILITY CHAPTER OBJECTIVE 1. NEGLIGENCE 2. LIABILITY IN TORT 3. QUALITY CONTROL 1. NEGLIGENCE Negligence is some act