Blogs on Assignments, Essays and Dissertations

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Auditing Theory and Practice (HAUD230-1) Assignment Answers

QUESTION 1 (50 marks) You are the audit manager of the audit of Felix (Pty) Ltd. You are currently reviewing the working papers for Accounts Receivable and Repairs and Maintenance for the financial year ending 31 December 2022. You have called the trainee on the audit to explain to you the assertions she will be testing relating to the following accounts: Repairs and Maintenance – […]

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Auditing Theory and Practice (HAUD230-1)

QUESTION (20 marks) According to the International Standard on Auditing: “The auditor has a responsibility to plan and perform the audit to obtain reasonable assurance about whether the financial statement is free of material misstatements, whether caused by error of fraud”. REQUIRED: Discuss the above statement with respect to the responsibilities of the professional auditor as well as the responsibilities of the Directors in an […]

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Auditing theory and practice HAUD230-1 Assignment Answers

QUESTION 1 (30 marks) During the audit of Taylors (Pty) Ltd, a large luxury travel luggage retailer, the following evidence was obtained: 1. The Financial Director informed you that all stock on hand at year-end was owned by Taylors (Pty) Ltd. 2. The Financial Director presented you with an email copy of a confirmation of a balance owed by a customer who lives in Ghana. […]

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Auditing Assignment Answers South Africa

The health department of South Africa is responsible to provide proper medical care to all people. This duty includes the provision of proper hospital/clinic care, surgical procedures required, external equipment such as hearing aids and medication, including prescription medicines, antiretroviral drugs, vaccines, et cetera. All the hospitals have on-site access to the services of a full-time registered pharmacist. All medication is kept in the pharmacies […]

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The Satyam Scandal – An Auditing Approach Assignment Answers

The Satyam Scandal Satyam Systems, a global IT company based in India, has just been added to a notorious list of companies involved in fraudulent financial activities, one that includes such names as Enron, WorldCom, Societe General, Parmalat, Ahold, Allied Irish, Bearings and Kidder Peabody. Satyam’s CEO, Ramalingam Raju, took responsibility for broad accounting improprieties that overstated the company’s revenues and profits and reported a […]

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