- Explain the auditor‟s planning process when planning for an audit of a new client. (8 marks)
- How does audit planning assist in the conduct of an audit? (5 marks)
- Explain the following controlling procedures in a well planned audit:
i. Direction and supervision of work. (2 marks) ii. Review and co-ordinating of work. (2 marks) iii. Quality controls. (3 marks)
Download More Questions and Answers from the Link Below
CPA SECTION 2_auditing_assurance_mock1.pdfCPA SECTION 2_auditing_assurance_mock1.pdf |
| CPA SECTION 2_auditing_assurance_mock2.pdf |
| CPA SECTION 2_auditing_assurance_mock3.pdf |
| CPA SECTION 2_auditing_assurance_mock4.pdf |
| CPA SECTION 2_auditing_assurance_paper1.pdf |
CPA SECTION 2_auditing_assurance_paper10.pdfCPA SECTION 2_auditing_assurance_paper10.pdf |
| CPA SECTION 2_auditing_assurance_paper2.pdf |
| CPA SECTION 2_auditing_assurance_paper3.pdf |
| CPA SECTION 2_auditing_assurance_paper4.pdf |
| CPA SECTION 2_auditing_assurance_paper5.pdf |
CPA SECTION 2_auditing_assurance_paper6.pdfCPA SECTION 2_auditing_assurance_paper6.pdf |
| CPA SECTION 2_auditing_assurance_paper7.pdf |
| CPA SECTION 2_auditing_assurance_paper8.pdf |
Download more resources
CPA Section 2 Auditing and Assurance KASNEB Recent Questions and Answers
CPA Section 2 Cost Accounting KASNEB Recent Questions and Answers
CPA Section 2 Economics KASNEB Recent Questions and Answers
CPA Section 5 Management Accounting Recent Questions and Answers
- Consider the background to the clients business and ascertain any problem for that sector of the industry, which may affect his audit work.
- Consider an outline plan of his audit including the extent to which he may wish to rely upon internal controls and the extent to which work can be allocated to interim or final audit stages.
- Assess the effect of legislation or accounting practice on the financial statements of the client.
- Review any management or interim accounts which the client may have preferred as these may indicate areas of concern in his audit.
- Meet the senior management of the client to identify problem areas e.g. material variances between budgeted and actual results
- Consider the timing of significant phases in the preparation of the financial statements e.g. dates of stock taking, balancing of personal ledgers, preparation of trial balance and draft accounts
- Consider the extent to which the clients employees may be able to analyse and summarize the financial data and the relevance to his audit work carried out by the clients internal auditors.
- Consider the need for expert advise
- Determine the number and grade of audit staff to be allocated to each stage of the audit.
- Consult members of the audit team to discuss any foreseeable problems. Often the partners will consult the manager who then becomes responsible for communication with other personnel used on that particular job.
- A budget should be prepared allocating the time of each member or grade of the audit team. This budget should be used to control the time spent on that audit and any major variation investigated by the manager.
- The client should be informed of the expected date of attendance by the auditor‟s staff and his agreement obtained.
Download Other Education Resources From Our Sites
