ACC5218 : Auditing Practice - Accounting - Auditing Assignment

Task :  Questions 1 :  You are the senior auditor conducting the audit of Grasslands Pty Ltd, a large distributor of lawn mowers and garden accessories. This is the first year your audit firm has performed the audit of this company. As part of the planning work, you have performed analytical procedures on an annualised basis and compared the results to industry averages and lasts year’s audited financial information.... Question 2 :  Corroboratory evidence inspected by an auditor in the course of an audit includes: a) a letter from the bank confirming the company’s bank balance, which is sent directly to the auditor b) the creditor’s monthly statement from the company’s files c) copies of sales invoices sent to customers from the company’s files d) delivery notes, sent with goods, receipted/signed by customers and held in the company’s office e) title deeds for the company’s properties, which are held at the company’s safe deposit box at the bank f) a bank statement from the client’s files g) material requisitions filed in a storeroom h) a board minute authorising purchase of new equipment.