important note answer in your own words do not copy from slides or fellow student 1
Instructions – PLEASE READ THEM CAREFULLY
- The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.
- Assignments submitted through email will not be accepted.
- Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.
- Students must mention question number clearly in their answer.
- Late submission will NOT be accepted.
- Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
- All answers must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism.
- Submissions without this cover page will NOT be accepted.
Assignment Question(s):(Marks 5)
IMPORTANT NOTE: Answer in your own words, DO NOT COPY from slides or fellow student.
1- Identify 4 of the 6 tests an auditor uses on the bank reconciliation? (1 Mark).
2- What is the difference between a contingent liability and a commitment? (1 Mark).
3- For each of the following situations, indicate what type of audit report is most appropriate:
a. The auditor lacks independence in fact, but not necessarily in appearance.
b. There is a scope limitation and it is material but the overall financial statements are still presented fairly.
c. The uncorrected misstatements are immaterial.
d. There is a departure from GAAP and it is pervasively material. (2 Marks).
4- Distinguish between the following theories of ethical behavior:
a rights-based approach, and a justice-based approach. (1 Mark).
