Hi!
I've been using Becker and am having a really hard time understanding the assertions and the proper auditing procedures required to detect them. Aside from Vouching (which is for occurrence & existence) and Tracing (completeness), I am having a hard time grasping the concepts of the appropriate auditing procedures. Any suggestions???
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offlineMemberPosted 1 year ago # -
FSCPA
offlineMemberThis is an area I'm really struggling with too. (Becker Ch4 correct?) I posted something similar so you can check it out: http://www.another71.com/cpa-exam-forum/topic/audit-becker-chapter-4
I think the best advice I've received so far is to understand the problems. Understand the flowcharts. What I would suggest doing is physically go through the flowchart. So fro example, in the sales cycle, write down a sheet of paper that says customer order, then move that to the sales department and prepare the sales order, then give that to the credit department, etc etc. Take that piece of paper, and follow the flowchart so you are doing a walkthrough of the transaction.
Other than that, I am not sure what else there is to do. I've been looking at the problems for so long that I've memorized the answers already! Let me know if you come up with another method! Good luck!
Posted 1 year ago #
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