APA format is required. References should be listed immediately after the question that is being answered. Each question lists a minimum number of unique scholarly references; the textbook is considered one unique….
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The computerization of business operations has posed many challenges to the auditor. Explain the difficulties experienced by an auditor in each of the following situations: i) In the use of test packs. (4 marks) ii) In on-line systems. (4 marks)
a) An auditor should form an opinion on the adequacy of the accounting treatment of an inherent uncertainty disclosed in the financial statements of a company.
i) What is meant by the term “inherent uncertainty”? (2 marks)
ii) Explain the treatment of inherent uncertainties in the auditor’s report. (6 marks)
b) Summarise the principal contents of a statement of directors’ responsibilities to be included in financial statements. (8 marks)
c) Explain the steps an auditor should take if he concludes that the client has made a departure from an accounting standard in the preparation of the financial statements.
(4 marks)
(Total: 20 marks)
The computerization of business operations has posed many challenges to the auditor. Explain the difficulties experienced by an auditor in each of the following situations: i) In the use of test packs. (4 marks) ii) In on-line systems. (4 marks)
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