@Vontfess If you're vouching an invoice or recalculating a spreadsheet that supports some amount, that's auditing an account balance. If you're testing a control, that means you're testing whether management has performed a particular activity that would detect or prevent a misstatement----for the auditor that might include checking to see if the control was done, or actually reperforming the control to see that it was done properly.
how do you determine the fucking difference between an control audit procedure and detailed of balances???? like wtf is that
Vontfess 10 months ago
@Vontfess If you're vouching an invoice or recalculating a spreadsheet that supports some amount, that's auditing an account balance. If you're testing a control, that means you're testing whether management has performed a particular activity that would detect or prevent a misstatement----for the auditor that might include checking to see if the control was done, or actually reperforming the control to see that it was done properly.
skchowmusic 10 months ago
If/when I pass my AUD exam, I'm going to find your address and send you a present.
meschwar 1 year ago
@meschwar Good luck! I actually wrote this while I was studying for AUD.
skchowmusic 1 year ago