2022代写经济学怎么写会计essay?Accounting Essay怎么写？

怎么写会计essay?Accounting Essay怎么写？怎么写会计essay

File Number 1007 ACCG340 2009s1

Audit DocumentationThis Advisory note is 22 pages long you may prefer to use it on screen rather than printing it out, obviously that is your choice. The Objective in supplying this material is to expand on and further illustrate ASA 230 to help you to understand how audit papers are assembled and assist you with the logical preparation of your assignment. Actually good working paper technique is a most valuable generic skill applicable to almost any field of study. An understanding of the hierarchical referencing methods will make life much easier for those of you who go on to honours and higher degrees.

Like any professional in these increasingly litigious days, auditors must be able to defend their actions through performing at a high level of excellence and being able to prove that they have done so. Remember that the wheels of the law turn very slowly and if something does go wrong it may be four or five years before you need to defend your actions in court. By then you will have long forgotten the fine details on which the case will turn, therefore these details must be fully documented. When the newly minted Senior council (QC) challenges you with all the wisdom of hindsight based on a knowledge of subsequent events not of course available to you when you made your decision, you need to be able to refute the damaging assertions and prove a high standard of work.

The means through which this objective may be attained is for Auditors to:

1.Maintain their objectivity and independence in performance by remaining clearly at arms length from audit clients. As you know neither you nor your staff can be officers or shareholders in a client company. The joint audit handbook includes pronouncements on this point while the joint code of conduct includes guidance as to what is and what is not acceptable professional and ethical behaviour. The basic point s to independence is to avoid close actual financial or personal involvement with the client be it actual or in appearance , public perception is as important as fact.

2.Keep their professional knowledge current through continuing education seminars etc Which is why good firms support staff training programs3.Thoroughly understand their client and the industry in which the client is engaged. ASA315

4.Plan Audit work carefully.

5.Thoroughly supervise and review field work

6.Render a fearless objective professional opinion no matter what its impact might be. The Auditors integrity is paramount, he or she may perhaps prove to be mistaken but what really matters is that the opinion given is honestly held and issued in absolute good faith. If a member of the profession gives anything other than a reasoned, honestly held opinion the entire profession is diminished.#p#分页标题#e#

7.Complete comprehensive well indexed working papers which prove that:

othe work has been done and that the standards observed equal or exceed the standards laid down in the professions audit handbook. If you fall below the benchmark described in the handbook you are legally negligent.

otheir understanding of the business and reasoning in applying that understanding to the collection and interpretation of evidence is sound

otheir planning and supervision of the work performed was thorough and that they have taken all reasonable steps to ensure that the quality of their work is beyond reproach.

othey have modified their programs as appropriate to allow for any unexpected items or circumstances which might have emerged during the course of the audit

The work papers prepared in the course of the audit must fully document the whole process to provide a sound evidentiary basis for the formation of the audit opinion .

This paper is a brief introduction to audit documentation. For the purpose of the exercise I am assuming that the auditor is considering his/her clients affairs for the first time.

Client Acceptance

Firstly the auditor should make general enquiries concerning the reputation of the potential client. Consider, his knowledge of the clients industry, the skill levels of his own available staff, such financial statements of the proposed client as might be available, together with the general economic outlook for the client. Next at the initial interview level he /she should make enquiry as to any plans for change the client may have and at the same time asking for details of the clients structure and organisation including parallel details for associated companies and subsidiaries. At the same time the Auditor will make inquiries among the business community and undertake a literature review (BRW, Financial Review, SMH, Stock exchange service etc) to research the companies background and will make discrete enquiries as to the directors reputation and integrity. Copies of this information will be placed in the Permanent file.In the light of this information the Auditor then decides whether or not to accept the work if it is offered.

Systems Review

Assuming that the decision is made to proceed, which is not automatic – the first task is to investigate the client system of internal control.

QuestionnaireThis usually starts with a questionnaire. If the firm is large ask the same questions three times of people at different ranks in the hierarchy: – oAt the top level – CEO and the Board.http://www.ukassignment.org/daixieEssay/Essayfanwen/oLow down- shipping clerks, foremen, bookkeepers etc.oSomewhere in the middle – department heads, Branch accountant etc The reason for the seeming redundancy of a triple approach is simple. The CEO will tell you what he/she thinks/hopes is happening, this tells you what ‘should’ be happening conceptually, but, since the CEO is not likely to have actually done the ground work for years this view will not reflect reality. Asking the Lower ranks will tell you what they actually do and give you their interpretation of the reasons for doing it. Middle management will usually give you the best version of events since they are the ones who actually provide the inevitable ‘work arounds’ and negotiate the compromises needed to make things actually happen. Use the same questionnaire for all three interviews noting the names and ranks of the interviewees at the top of each page, if you use different coloured pens to note the different peoples answers it makes it easy to compare the resulting illusions.#p#分页标题#e#

Obviously the kind of questionnaire in use will vary widely depending on the type of business and on the clients recording methods. Manual, PC based and Mainframe accounting systems require different approaches.

This a tiny extract from part of a simple ICQ (Internal control questionnaire) regarding Cash Payment Procedures( answers are noted in italics):-

(This example only gives one set of answers – because most people do not own a colour printer)

When you have considered the three disparate sets of answers for a system, take two or three samples of each type of actual transaction for that system and ‘walk them through’ the process. IE trace them in detail from cradle to grave. In this instance it would mean checking the initial request for materials to the purchase order , the goods received record the suppliers invoice into the creditors ledger, reconciling the creditors statement, to the cheque requisition and so on . At all stages the auditor should be seeing that the appropriate signatures and initials appear on the documentation and that all relevant control processes and calculations have been completed as well obviously that the entries were accurate.. You will very probably find that none of the answers you were given properly reflect the actual process. It is not that people deliberately mislead you, they simply don’t know. Senior management tell you what happened twenty years ago when they did the humble jobs. The current workers give you their limited view of events and middle management tell you about their perceptions and interpretations of their obligations and how they have to negotiate to keep the peace between bosses and workers You will generally find the truth lies somewhere between middle managements answers and the lower ranks answers. Ask whatever questions you feel appropriate to clarify your revised understanding then base your substantive testing design on the composite or blended reality.

Flow Charts A powerful but time consuming (and therefore costly) technique is to prepare flow charts giving a diagrammatic, sequential description of the clients processes. If you are lucky the client might have already prepared flow charts for their own use , obtaining copies of these documents could save the auditor from many hours of work (and save the client thousands of dollars in fees).

Flow charts are expensive to prepare and since clients frequently modify their processes keeping flow charts current is a high cost activity. Inaccurate charts are a serious source of audit risk. Accordingly it is common to use them as a supplement to other forms of systems description to illustrate complex points only rather than to chart a clients processes in full.

Block diagrams -a simplified form of Flow chart – are sometimes used to provide an overview of systems. Block diagrams are usually supported by narrative description.

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A simple Flow chart for mail receipt of cheques from customers might look something like this:

This example uses the industry standard icons to indicate what is happening at each stage of the process. It is not, however, uncommon for client prepared flow charts using non standard symbols or for them to ascribe non standard meaning to standard symbols. In such cases a key must be provided with each chart to avoid confusion. The foregoing diagram is similar in kind to those commonly shown in text books it is not what I would use in practise being simplified down to block diagram which would in truth be of limited value. Professional flow charts are much more detailed and are in fact quite sophisticated documents

NarrativeIn numbers of instances the auditor will simply produce a narrative description of the clients situation as illustrated next.

Client: Big Business Ltd

Period/Yr End 30-06-2xxxW.P # 2015Prepared By: ADDate: 27-04-20xxSubject: Control Environment

The Company manufactures plastic water pipe at its factory in Blacktown and is managed by its founder and sole proprietor Fred Williams.Management is dominated by Fred who is responsible for marketing, purchasing, hiring and approving major transactions and all non routine transactions.Fred clearly has a good in depth understanding of his industry and believes that hiring experienced personnel is important because of the limited opportunities a small firm has for segregation of duties and systematic supervision.Fred has a conservative attitude towards accounting estimatesMary Jones is the bookkeeper and is open and co-operative in discussing accounting matters with us she has a good grasp of routine accounting processes.The firm has recently upgraded its PC accounting package and is transferring old records onto the new system. Fred is concerned to ensure that the new system works properly and has asked that we take particular care to support Mary during this transitional period.New market opportunities are developing as the housing boom continues unabated in Sydney’s south west. If the anticipated growth eventuates it may become appropriate for us to recommend more formal control mechanisms in the coming year ………………….. etc etc

Narrative descriptions are a suitable and cost effective means of recording an overview of a clients business environment and methods. They are commonly supplemented at critical points with block diagrams and flow charts.

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Systems Analytical Review Having completed the Questionnaire and/or Flow chart and/or Narrative descriptions the auditor analyses the clients control system strengths and weaknesses . The audit Senior prepares schedules of control weaknesses and compensating strengths together with notes on their audit implications and recommendations to management for discussion between the Audit senior and manager and the Client as under:-

Client: Big Business Ltd

Period/Yr End 30-06-2xxxW.P #Prepared By: RHDate: 27-04-20xxSubject: Client system Weaknesses discussion Schedule

ItemWeakness:Offsetting strength:Audit significance :Recommendation to client / Specific Audit notes::Client ResponseAudit Manager Comments01……..……..…….…….………12Purchase orders not used for services or capital expense. butmajorCapital expenditure approved by Fred Williams-CEOand propprietor

That Purchase Orders be used for all purchases. And major items to be minutedFred agrees and will institute recommendationOK AD27/09/20xx13Services can be obtained without prior approval but subsequent approval must be obtained for payment.

All service invoices approved by department heads who have budgetary responsibility. Emphasise substantive tests in this area

Obtain list of specimen signatures and approval limit sfor testingClient considers existing arrangements adequate.Follow up at final review and reconsider for TofT audit next year.etc…….…….……..……..

An alternative format sometimes used in this context is as follows:

Client:

Period/Yr EndW.P #Prepared By:Date:Subject: Audit planning – Weakness reviewSystem: PurchasesComponent: Supporting payment vouchers

ItemCommentWP Ref etc1Weakness:Cheque signatories do not cancel supporting vouchers<…..>2Offsetting strength:Nil3Audit significance :Little control is achieved through signatories sighting vouchers. Uncancelled vouchers could easily be presented a second time <…..>#p#分页标题#e#4Specific Audit testing:Sample test payments ensuring that all requisite vouchers are attached. Then review other payments looking for unsupported cheque requisitions. Use IDEA software to interrogate files looking for duplication of voucher numbers etc<…..>5Recommendation to client:All vouchers to be stamped “Paid” , date and Cheque No written on them and signatories to initial them.6Client ResponseAccountant accepts recommendationOK AD27/09/20xx

It doesn’t matter very much what audit work paper format is used so long as there is incontrovertible evidence of a systematic thorough systems review and discussion of weaknesses noted together with the client and the clients response thereto. If something goes wrong you must have proof that the client was warned of the risk thus throwing responsibility back where it belongs. Accordingly the auditor should always send the clients Audit committee a letter confirming the results of these systems discussions. The letter might take the following format :-" Gentlemenhttp://www.ukassignment.org/daixieEssay/Essayfanwen/This is to confirm our understanding of the systems in place at Big Business Ltd To that end we enclose copies of our working paper to date and recommend that you critically review them to minimise the risk of misunderstandings between us. Our enquiries show that ……………………….…. ……………………………………………………………………and we suggest that you follow up on our recommendations concerning internal control to help reduce the possible incidence of fraud or error……..If in your opinion we are in error as to any of the details listed above we shall be pleased if you will write to us describing our perceived error. This will help us design appropriate audit procedures to confirm that the system in place is an effective mechanism and may be relied upon to minimise the incidence of any possible fraud or error. please be aware that our comments in no way suggest that that any of your existing staff may be lacking in integrity it is simply the case that weak internal controls can allow error to occur unnoticed and strong controls help avoid needless embarrassment. We are ready at àll times to assist you in your deliberations in this regard…… Yours faithfully CPA firm …. Partner" Copies of the questionnaire, flow charts, narratives and strengths and weaknesses forms and confirmation letters should be added to the permanent file back at the office.

The permanent file now holds backup copies of the basic descriptions of the clients systems as well as the background research carried out on the clients affairs prior to acceptance of the audit assignment. This archive enables the Audit senior to design a program suitable for the #p#分页标题#e#clients circumstances and to keep pace with changes in clients systems which occur from time to time and update the audit program accordinglyThe Audit ProgramHaving undertaken the systems discovery process through questionnaires and interviews etc the audit senior writes a draft Audit program which is reviewed by the audit manager. It is common to start with a “standard” core program appropriate to the clients industry group This will be extensively modified (or even replaced) to suit the individual clients circumstances. It is not unusual for the senior to decide to write a completely new program, and perfectly normal for sections of the core program to be overwritten with material tailored to the clients specific circumstances . One almost never uses a program straight “Off the shelf”.

The following illustration shows a typical standard medium sized business audit program for fixed assets. It would be modified/tailored to suit the specific client. Note that the audit objectives are stated, and that there is provision for cross referencing to supporting schedules as well as for the responsible audit clerk to acquit each task by initialling and dating the program. This of course contributes to the supervision and review function of Audit management.

Client:XYZ LtdPeriod/Yr End 306/20xxW.P #Prepared By: JTDate:: 29/05/20xxSubject: Property, Plant and equipment Audit Program

Objectives

To bePerformedBy:

Date:

Time Budget (Level-Hrs)

Actual(InitialsLevel-Hrs)WP REf

OK?Y/N1To verify Existence and Ownership2To ensure valuations are appropriate3To ensure adequate disclosure and appropriate presentationProcedures1Obtain supporting schedules (summarised by FA classification showing Cost& Accumulated depreciation) Agree balance to GL record.JTS-1jtS-12Vouch additions and disposals of material items by reference to appropriate documentation. Sight written authorisation for these transactions eg board minutes for material items.JTRDFWS-3A-8J-16Jt S-3rd A-8fw J-163Check treatment of profit/loss on disposal.#p#分页标题#e#JTS-2S-2http://www.ukassignment.org/daixieEssay/Essayfanwen/4Check suitability of depreciation rates used. Discus with management or engineering staff where appropriateADJTM-1S-2M-1S-25Physical Inspection of sample of assets1- Trace item back to accounting records2- Trace sample from Accounting records to physical objectJTGKFWS-1A-12J-12S-2A-15J-126Review adequacy of insurance cover and sight policy document examining it for any unusual clauses (exclusions etc)JTS-2S-271- Sight Title deeds for Real property2- Sight registration documents and leases for vehicles and plant JTRDS-1A-88Review valuation of asset valuations1- Land & Buildings by reference to current local sales – consider revaluation where appropriate2- Are any plant items no longer in use – if so they should be written off.JTS-49Review 1- Classification and description of amounts2- Consistent application of GAAPJTADS-2M-110Analytical Review based on prior year valueJTRDS-1A-111Additional Procedures(Audit senior to add further procedures as required by the nature of the engagement)

Enquire as to effective working lives of plastic extrusion plant. New technology might make existing plant obsolete.

ConclusionIn respect of the above objectives:(a)The audit procedures were applied in accordance with professional requirements(b)Subject to any differences documented in the work papers the recorded values are materially correct(c)Accounting principles are appropriate and have been consistently applied

S-2

Reviewed:

The letters and numbers in the budget column indicate the staff level and the number of hours estimated for the job in hand The staff levels thus indicated are P= Partner, M=Audit Manager; S=Senior; A=Assistant and J=Junior. The program therefore directs the staff to tasks commensurate with their skill levels and indicates the probable time (hours) required to complete each job. This is a very effective planning and control tool since field staff must progressively record actuals against budget which enables Audit managers to review progress#p#分页标题#e# Audit "Work papers" may take both hardcopy (Paper) and soft (electronic) form. They will include copies of client records as well as auditor generated records. They must all be fully labelled indexed and dated and their provenance indicated. Work papers are costly to prepare so each one must fulfil a defined purpose. Since they contain client information they must be treated as absolutely confidential. Audit working papers prepared in satisfaction of the programmed work must clearly state the objective and what work was actually performed, if for some reason a required task could not be completed the papers must say so and give the reason. Conclusions as to satisfaction or shortfalls are to be given for each phase of the job. There will inevitably be queries to resolve and these should be clearly indicated on some distinctive form of working paper (Point Sheets) together with notes as to their resolution.

It makes for consistency if a standard type of stationary is used. The following two (abbreviated) samples are typical.

Standard Work Paper – general purpose stationaryClient:http://www.ukassignment.org/daixieEssay/Essayfanwen/

Period/Yr EndW.P #Prepared By:Date:Subject:Remarks:

Reviewed by:

**********************

Point Sheet – used for scheduling queries and their resolution on any part of the auditClient:

Period/Yr EndW.P #Prepared By:Date:Subject:#Matter (Q)Outcome (A)ClearedInitials/DateThis part of the sheet is usedto list and describe a queryThis section is used to record the answeror resolution of the query together with detailsof the supporting evidence,

Remarks:

Reviewed by:

Naturally the actual papers used are full sized A4 . Samples are attached at the end of this document for you to Photo copy and utilise if you wish.

Typical Work Paper Hierarchy This is not a mandatory numbering scheme but a basic model I have used for a number of years – it is modified as needs dictate

References (Numbering) & WP description Comments

1000 Block – Audit completion1100 -Partners final memoNotes any concerns and outcomes of interviews with client. Approves final audit report <2600>.#p#分页标题#e#

1200 – Managers final memoHigh level review with any recommendation to the partner

1300 – Seniors final memoRevue of Post Balance day events . Lists any unresolved concerns and significant items noted during the Audit. Suggests form of audit report ie Unqualified or qualified due to materiality (AASB1031) of any problems etc. Describes difficulties encountered and includes any suggestions for amendment to next years audit program.

1400 – Statement of Clients accounting . . PoliciesAASB10012000 Series – Annual Accounts2100 -Balance Sheet <B/S>AASB101 & aasb1102200 – P&L <P/L>AASB10182300 – Cash FlowAASB1072400 – Notes to the Accounts2500 – Directors Report2600 – Audit reportAUS7022700 – Concise ReportAASB10392800 – Clients Final Trial Balance3000 Series – AssetsLead schedule agreed to Balance sheet <B/S>3100 – Fixed (Non-Current)AssetsAAS21, AASB1015, AASB1041Lead schedule agreed to Balance sheet <B/S>3110 – Land3112- RoadworksUIG10553120- Buildings3130 – Plant and equipmentCould be several categories ie Mfg. Packaging etc. 3180 – VehiclesExecutive, Sales staff, Delivery etc3500 – Current AssetsLead schedule agreed to Balance sheet <B/S>3510 – Cashhttp://www.ukassignment.org/daixieEssay/Essayfanwen/ 3511 – Cash on Hand3511/1 Petty Cash, 3511/2 Till floats etc 3512 – Cash at Bank _Current AccCould be several – ie 3512/1 Head office account, 3512/2 Brisbane Branch Imprest acc etc. Prepare a separate schedule for each 3513 – Cash at Bank – OtherTerm deposits, security deposits 3514 – Trust AccountsWP should include nature of the trust (Solicitors, Travel Agent etc) together with details of any special requirements eg half yearly audit3520 – InventoryAASB102 (Existence, Ownership, Value)Lead schedule agreed to Balance sheet <B/S> 3521 – Raw Materials 3522 – Work in Progress (WIP)Include evidence of examination of costing methods 3523 Finished GoodsMay need several schedules where there are several branches or stock locations 3530 – DebtorsLead schedule agreed to Balance sheet <B/S>#p#分页标题#e#May be of several varieties 3530/1 Trade, 3530/2 Staff Loans 3531 Copy of clients debtors aged trial . balance* See footnote on numbering 3532 Examination for bad & doubtful . . debtsLook in the 90 days plus column and interview the Sales manager in depth very sceptically 3533 Details of confirmations3600 InvestmentsAASB128,140 3610 – Investments held for resale 3620 – Investments in Joint venturesAASB131 3630 – Investments in AssociatesAASB1283700 Deferred Expenditure . . . (unexpired costs)AAS9, AASB1011,3900 – Intangible AssetsAASB138 Lead schedule agreed to Balance sheet <B/S> 3910 – GoodwillRemember only Purchased goodwill can be included AASB138 3920 – PatentsInclude details of patent – references, expiry date etc 3930 – Trade Marks 3940 – CopyrightIncludes software4000 Series- LiabilitiesLead schedule agreed to Balance sheet <B/S>4100 – Term Liabilities 4110 – Mortgages 4120 – LeasesAASB1008 4130 – Long service leave Provision4400 – Current Liabilities 4410 – Bank Overdraft 4420 -Trade Creditors 4430 – Staff Entitlements 4431 – Annual Leave 4432 – Sick Leavehttp://www.ukassignment.org/daixieEssay/Essayfanwen/ 4433 – Long Service Leave (current) 4440 – Provision for TaxationAASB1124800- Contingent liabilities & . . ProvisionsAASB 137 #p#分页标题#e# 4810 – Warranty Service provision 4820 -5000 Series- EquityLead schedule agreed to Balance sheet <B/S>5100 – Authorised Capital and Shares . in Issue by Category5400 – Retained earningsShow movements year by year5700 Capital reservesReconciled annually6000 Series – RevenueAASB 118Lead schedule agreed to Profit & Loss <P/L>6100 – Sales of product6500 – Services revenue6700 – Investment income6800 Other Income7000 Series – Cost of SalesLead schedule agreed to Profit & Loss <P/L>7100 – Purchases 7110 – Raw Material Purchases 7120 – Component Purchases 7130 – Finished Goods Purchases7200 – Conversion Costs 7210 – Labour 7220 – OverheadsAASB1019-13.1.4,5 & 6 8000 Series – Expenses Lead schedule agreed to Profit & Loss <P/L>There will be dozens of accounts involved, allocate numbers as required can be convenient to incorporate ledger acc numbers9000 Series – TaxationLead schedule agreed to Balance sheet <B/S> Lead schedule agreed to Profit & Loss <P/L>Detailed workings to be reviewed by the firms Taxation specialists Auditors have enough to do without alsotrying to be Tax expertsAASB1020,

The above hierarchy is indicative of the papers typically found in a working paper file. Various other headings may be required and gaps have been deliberately left in the numbering system to accommodate work papers on such items. – Insert whatever additional headings may be needed.

* Where an individual schedule is long (for example a debtors listing) it is convenient to give the schedule a single number but indicate its length and individual page numbers eg

"Debtors list 3531- 1 of 17" …".3531.- 6 of 17" etc . This avoids the confusion caused by using various numbers for the same thing and allows the reviewer to conveniently check on the completeness of documentation filed.

When cross referencing work papers to supporting schedules etc you should not to rely on the use of a different coloured pen or print for the purpose . There are numbers of occasions when you need to use photo copies or to print out copies of computer files and colour coding is then usually lost. For example you might need to send material to an interstate office or perhaps you might need a copy for a lawyer. The best approach is to indicate reference numbers by using distinctive brackets. Angle brackets are easily identified as such. Eg <3130> , <3531- 4 of 17> , <3630> , <2100 B/S> etc. Do not however use brackets in the title box of the individual work paper itself, only to show linkage to or from other WPs.#p#分页标题#e#

A simple rule to follow to avoid confusion is that where a total is cross referenced to a lead schedule ie one ‘higher up’ the system or to the Balance Sheet or Profit and Loss indicate this by putting the <reference> below the total concerned. Where a value is supported by a ‘lower’ schedule indicate the <source schedule> in angle brackets alongside the entry.

To show this concept consider the following model as if an extract of a set of Work Papers

Balance Sheet2100$’000……Plant795<3130>Vehicles140<3180>…….Plant3130$’000Lathes253<3131>Welding12<3132>……..1739Prov for Depcn944<3140>$795<2100>Lathes3131Lathe -QQQ3131/1$’000Sighted $’000PPP79<3131/2>YYYYYY85QQQ128<3131/1>ZZZZZZ43RRR46<3131/3>$128$253<3131><3130>This skeleton example links a work paper on a specific asset (Lathe QQQ) on WP <3131/1> via schedule <3131>to the Plant lead schedule <3130> and subsequently the Balance Sheet <2100> The following diagram expands this concept.

Note how the network of Workpapers supports the values in the Accounts and therefore the auditors opinion. Each Item on the Balance sheet will be cross referenced to a work paper (lead schedule) which shows the total value shown for that Balance sheet item and is cross referenced to supporting schedules showing the detail of the work done and evidence gathered to support or refute the assertion. A Lead Schedule may be supported by many subsidiary schedules giving specific details of documents sighted , conversations held, General ledger account details , cheque numbers, receipt numbers, invoice numbers, photo copies of agreements, photographs of stock or machinery, bank reference numbers, solicitors letters etc etc#p#分页标题#e#

The following sample Workpapers indicate the kinds of work typically performed

Client: Al’s Emporium Ltd

Period/Yr end: 30/06/20xxWP No.3131/1Prepared:ADDate:29/09/20xxTopic: Lathe QQQ

GL Acc 7341Supplied by – Simon Carves Engineering Ltd$September 2006 Invoice 17938 Serial No 15645-9271A84958Enhancement increasing capacity from 170 units/hour to 350 units/hour Invoice 26419 Jan 200043040 $127,998o Sighted suppliers invoices<3131>o Checked serial Numbero Machine is still in regular use oDiscussed service life with chief engineer OKoMaintenance expenditure during current year $15k seems reasonable in the circumstancesoAgreed to plant register<3149>oChecked depreciation Calculation. Straight line basisoInspected lease expense – no apparent Sale/leasebackoChecked bank and legal correspondence – no apparent encumbrance.Having conducted the above audit procedures I am satisfied as to the existence ownership and value of the equipment AllanD 29/09/20xx

Client:

Period/Yr end:WP No.

Client: Als Emporium Ltd

Period/Yr End 30/06/20xxW.P # 3131Prepared By: ADDate: 2/10/20xxSubject: Lathes Lathe PPP$oVerified from supporting vouchers and agreed to Plant register and GL Account79,102<3131/2>Lathe QQQoFully vouched – outcome OK127,998<3131/1>Lathe RRRoVerified from supporting vouchers and agreed to Plant register and GL Account45,911<3131/3>#p#分页标题#e#$253,011I am satisfied that the value of Lathes on hand is<3130>complete and correct AllanD 2/10/20xxStandard Work Paper Client:

Period/Yr end:WP No.Prepared:Date:Topic:

Remarks:

Reviewed by:

Point Sheet

Client:

Period/Yr EndW.P #Prepared By:Date:Subject:

#Matter (Q)Outcome (A)ClearedInitials/Date Form 20 – Point sheet