Auditing specific accounts
Below are examples for how specific accounts can be audited. The videos examine the common business processes, the types of internal controls that you might see and tests you can use to evaluate controls and gather substantive evidence. If you don’t see the account you need – make sure you follow the 4 simple rules I have for designing any of these procedures
Auditing Sales/revenue
Auditing expenses
Auditing cash
Auditing Accounts Receivable
Auditing Property, Plant and Equipment (PPE)
Auditing Payroll
Auditing leases under IFRS 16
Auditing bank loans and borrowings
Auditing accounts payable
Auditing inventory
The next step is to complete a set of tasks that occurs at the end of the audit