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Assalamualaikum and Selamat Sejahtera. We Group 3 from PSP DAT5B_JUN2020

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Assalamualaikum and Selamat Sejahtera. We Group 3 from PSP DAT5B_JUN2020

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Hello guys, here is the link of our live on Facebook https://m.facebook.com/story.php?story_fbid=382296136499436&id=894503637335357
Thank you so much for all the support, We really appreciate it 😘❤

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Assalamualaikum and Salam Sejahtera. We Group 3 from PSP DAT5B_JUN2020

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Assalamualaikum and Salam Sejahtera. We Group 3 from PSP DAT5B_JUN2020

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We will discuss about Topic 3: Audit Of Financial Statement this Saturday. Don't forget to see us and check our blogspot  : https://mypolyaudit.blogspot.com/2020/09/review-chapter-3-audit-on-financial_3.html

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https://mypolyaudit.blogspot.com/2021/11/audit-evidence.html

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Saya En Mohd Hafiz dan Pn Juliana akan berkongsi ilmu DPA5043 untuk semester ini untuk kelas DAT5A dan DAT45B (PSP) Mohon memperkenalkan diri dengan :
1. upload gambar terkini
2. Nama penuh
3. No Matrik
4. Nyatakan matlamat anda di akhir kursus ini.

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Sila layari portal di pautan  https://mypolyaudit.weebly.com/ dan juga refleksi perbincangan pelajar di http://mypolyaudit.blogspot.com/

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Platform penyampaian pengajaran dan pembelajaran (P&P) Jaminan Audit di Malaysia menerusi pembelajaran teradun(Blended Learning).

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Assalamualaikum dan selamat sejahtera . Kami group 8 DAT5B dari politeknik seberang perai <3
Untuk makluman semua , dibawah ini merupakan link fb live mypolyadudit yang telah dibuat . Jadi sesiapa yang ingin mengulangkaji atau mendengar semula boleh melihat semula penerangan dari kami di link yang dilampirkan .
https://m.facebook.com/story.php?story_fbid=969815546874304&id=894503637335357

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Audit Procedures For The Liabilities Process.

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Audit Procedures For The Liabilities Process.

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Assalamualaikum dan Selamat Malam 🌙
Kami pelajar Politeknik Seberang Perai, kelas DAT5B daripada kumpulan 7 🌹
Dibawah merupakan link tajuk kumpulan kami 👇🏻

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Chapter 3 : Audit procedures for the inventories and work in progress process
Group 6 DAT5C
Assalamuaalaikum and hi , kami group 6 DAT5C dari politeknik seberang perai ✨ di bawah ini video powtoon group kami ☺️ jemput untuk tengok 💕

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group 6  DAT5C audit procedures for the inventories and work in progress process

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Chapter 4:Auditing in CIS Environment (PSP_DAT5BJune2020)

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Chapter 4:Auditing in CIS Environment (PSP_DAT5BJune2020)

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Assalamualaikum dan salam sejahtera. Dont  forget to join us on our fb live. While waiting, you can visit our blogspot to know about this chapter. Thank you.

Link for blogspot :https://mypolyaudit.blogspot.com/2020/09/chapter-4-auditing-in-cis-environment.html

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Chapter 2: Audit Evidence by Group 2 PSP | DAT5C_JUN2020

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Chapter 2: Audit Evidence by Group 2 PSP | DAT5C_JUN2020

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1. Ikuti perbincangan topik 2 di MypolyAudit blogspot.
http://mypolyaudit.blogspot.com/2020/08/audit-evidence-by-dat5cjune2020.html

2. FB Live Mypoly Audit
https://www.facebook.com/watch/live/?extid=OPMfuQklI7fnmhqr&v=611919369525876&ref=watch_permalink

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Let’s Get Quizzical challenge

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Find quizzes on any topic and practice or compete with friends.

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DPA500153 Audit II | DAT5A_Sesi 1 2021/2022

Assalamualaikum/ Hello my beloved student,

Always work in a group so that you can gain excellence in knowledge.Insya Allah.

Thank you.

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Assalamualaikum/ Hello my beloved student,Always work in a group so that you can gain excellence in knowledge.Insya Allah.Thank you.

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Penilaian online

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Join a game of kahoot here. Kahoot! is a free game-based learning platform that makes it fun to learn - any subject, in any language, on any device, for all ages!

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DPA500153 Audit II | DAT5A_Sesi 1 2021/2022

Assalamualaikum/ Hello my beloved student,

Always work in a group so that you can gain excellence in knowledge.Insya Allah.

Thank you.

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Assalamualaikum/ Hello my beloved student,Always work in a group so that you can gain excellence in knowledge.Insya Allah.Thank you.

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Try the best!

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DPA5043 Audit & Assurance | DAT5B_Dec 2020: Online scoreboard

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A free online scoreboard and leaderboard app. It's fun and ideal for school, games and sport!

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Hi, we are from Group 8 DAT5B (DEC2020) .
Let's learn together with us for this chapter.
For more information, you guys can check out our :-

Sway : https://sway.office.com/2QmICJss25dD7vij?ref=Link
Blogspot :
https://mypolyaudit.blogspot.com/2021/06/8-corporate-governance-group-8-1.html

Thank you !

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CHAPTER 7:AUDIT ISSUES AND LEGAL LIABILITIES

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CHAPTER 7:AUDIT ISSUES AND LEGAL LIABILITIES

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1.Jangan lupa untuk menyertai siaran langsung kami di Facebook hari ini pada 11 pagi.
2.Anda boleh rujuk slide yang kami terangkan dibawah.
https://app.conceptboard.com/board/76te-fg6r-yb0d-pe60-0h0y

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Assalamuaalaikum and hai guys , lets spend time to see our fb live tomorrow at 10.30 am , we will discuss about audit report , your consideration are highly appreciated : 

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Assalamuaalaikum and hai guys , lets spend time to see our fb live tomorrow at 10.30 am , we will discuss about audit report , your consideration are highly appreciated : 

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-this is our blogspot in mypolyaudit web https://mypolyaudit.blogspot.com/2020/11/review-chapter-6-audit-report.html

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Tahniah semua...

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Matching audit test with audit procedures of data validation controls

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﻿ Internal control structure and assesses control risk to complete the Electronic Data Processing (EDP). Effect of computerised information system in the auditing process.

WEEK 8 | 05 - 09 October 2020

Learning Objective
Upon completion of this chapter, students should be able to understand basic approach to computerised information system.
4.1.1 Describe the changing information of technology and its implication for auditing.
4.1.2 Determine the level of complexity in computerized information system enviroments.
4.1.3 Identify the general and application control on CIS.
4.1.4 Prepare the plan an audit strategic in CIS approach

Thing to Do
Assalamualaikum & Salam Sejahtera,

1. Please join the online class at Microsoft Teams (refer course schedule) until it finishes.

2. Please watch this P & P video until it finishes. | How to audit CIS? - What is CIS? | IT controls - General vs Application Controls
| video 1 & video 2

3. After finished watch these video, you can click link Conceptboard or QR code scan for online reading activity. Students as editor can also comment and share any content in this Conceptboard. Thank you.

​ Student`s Blog
----------------

1. After watch this video and read eNotes at Microsoft Teams, CIDOS and MyPoly Audit, please answer and comment for each video and notes attached.

2. Furthermore, please broadcast your discussion activity at the FB live that you created.

3. Also, c ollaboration with your team at Mural and don`t forget to update group activity at Padlet and blogspot respectively.

You will be able to edit this mural.

Note Chapter 4
To my beloved students, you are available for free reading online or free download in CIDOS Politeknik Malaysia.

​Alhamdulillah, you finished watching the video above, now you can play with this game at CRAM. Matching audit test with audit procedures of data validation controls.

OTHER TOPICS

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AUDITING IN COMPUTERISED INFORMATION SYSTEM ENVIRONMENT

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﻿ Internal control structure and assesses control risk to complete the Electronic Data Processing (EDP). Effect of computerised information system in the auditing process.

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Assalamualaikum and Salam sejahtera. Don't forget to see us. 

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Assalamualaikum and Salam sejahtera. Don't forget to see us. 

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DAT5B JUN2020

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More to learn in chapter 1 (Audit Documentation) in this sway's link. Click on the link and let's learn together in chapter 1.

https://sway.office.com/DSRqAektQm6s0vSm?ref=Link

Through this link, you will find out more about audit documentation because we had prepare for you guys the slide, Video and so on. ENJOY!

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Work smart !

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DPA5043 Audit & Assurance | DAT5A_Dec 2020: Online scoreboard

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A free online scoreboard and leaderboard app. It's fun and ideal for school, games and sport!

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Chapter 7 : Audit Issues And Legal Liabilities

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Chapter 7 : Audit Issues And Legal Liabilities

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Assalamualaikum and salam sejahtera , you all are welcoming to view this blogspot about chapter 7 : Audit issues and legal liabilities.

For more detail , please click the link down below !
Sway : https://sway.office.com/g7EnqS3hTjfxudQP?ref=Link&loc=play
Blogspot : https://mypolyaudit.blogspot.com/2021/06/group-7-1.html
Mypolyaudit : https://mypolyaudit.weebly.com/audit-issues-and-legal-liabilities.html

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Auditing Issues and Legal Liabilities Introduction

(1) Understanding the meaning of fraud and error.

(2) Reviewing the legal acts that govern auditor's liabilities.

(3) Relation between type of liabilities and current audit cases.

The legal liability that is assumed when the auditor is performing professional duties.

(A) The auditor is liable for client accounting misstatements in the financial statements.

(B) There is always the risk of fraud and material misstatement in financial statements.

(C) Fraud in audits is when an entity is found to have illegally altered financial statements to manipulate its financial health or to hide profit or losses. It is severely punished since fraud undermines the trust that is the bedrock of the global financial system.

Inadvertently taking an expense to the wrong account: For example, an advertising expense shows up as an amortization expense. The two accounts are next to each other in the chart of accounts, and the data entry clerk made a simple keying error.

Booking an unreasonable accounting estimate for allowance for bad debt expense: The person who made this mistake may have simply misinterpreted the facts. The allowance for bad debt arises because generally accepted accounting principles call for the matching of revenue and expenses for the same financial reporting period. Each period, a certain amount of credit sales have to be recorded as bad debt. That way, revenue isn't overstated in the current period.

Incorrectly applying accounting principles: Recording assets at their cost rather than their market value is an example of an accounting principle. Make sure the company hasn't inadvertently made an adjustment to increase the value of assets (such as land or buildings) to their appraised value rather than cost. It's never appropriate to change the value of a fixed asset on the balance sheet from its original cost.

There are two pieces of civil law of particular significance to the audit profession; contract law and the law of tort. These establish the principles for auditor liability to clients and to third parties, respectively. Under contract law parties can seek remedy for a breach of contractual obligations.

- An agreement between private parties creating mutual obligations enforceable by law. The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality.

- A tort, in common law jurisdiction, is a civil wrong (other than breach of contract) that causes a claimant to suffer loss or harm, resulting in legal liability for the person who commits the tortious act. It can include intentional infliction of emotional distress, negligence, financial losses, injuries, invasion of privacy, and many other things.

Types of Liabilities and Current Liabilities

An auditor is in a contractual relationship with a client. If the auditor does not

perform his or her side of the bargain according to contract terms the client can sue for

breach of contract. A client may seek these remedies for breach of contract:

(1) specific performance;

(2) general monetary damages for losses incurred as a result of the breach;

(3) consequential damages that occur indirectly as a result of the breach.

Auditors may be liable for negligence to third parties such as actual and potential shareholders, vendors, bankers. Under the common law, auditor can be held liable to client for breach of contract, negligence and fraud; and auditor can be held liable to third party for negligence and fraud.

A forensic audit examines and evaluates a firm's or individual's financial records to derive evidence used in a court of law or legal proceeding. Forensic auditing is a specialization within accounting, and most large accounting firms have a forensic auditing department. Forensic audits require accounting and auditing procedures and expert knowledge about the legal framework of such an audit.

Factors That Help to Minimize the Auditor Liabilities

1.Get rid of high risk clients and troublemakers. Continuing to serve clients that are risky, that require constant hand-holding, that are uncooperative or that argue over fees limits productivity of CPA firm personnel and often creates a "crisis-oriented" culture.

2.Make sure in-charge accountants and engagement leaders know what they are doing. Due to employee turnover, business growth or other reasons, staff personnel are frequently promoted to these leadership positions without adequate experience and training.

3.Carefully manage cookie-cutter approaches to audits. Standard approaches to attest engagements without carefully considering the facts and circumstances of each can increase the possibility errors or fraud going undetected.

4.Restrict the use of reports in high risk circumstances. Normally, restrictions on the use of reports are appropriate when the accountant or auditor has concern about unqualified or unauthorised persons utilising financial statements and footnotes.

5.Compliance on Audit quality: There are a number of ways in which audit firms can manage their exposure to claims of negligence. Perhaps the most obvious is not being negligent in the first place.

For more detail , clink the link down below !

2. Differentiate between fraud and error.

3. Define the legal liability

4. Discuss Liability to client

5. Discuss Liability to third party

6. Discuss Fraud / Forensic

8. Give the factors that minimize the auditor liabilities

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Auditing Issues and Legal Liabilities Introduction (1) Understanding the meaning of fraud and error. (2) Reviewing the legal acts that govern auditor's liabilities. (3) Relation between type of liabilities and current audit cases. The legal liability that is assumed when the auditor is performing professional duties.

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Assalamualaikum , Selamat Sejahtera and Vanakam !!!!

We are from Group 6 , we are here to provide y'all with more info about Chapter 6 : Audit Report from DPA 5043 Audit and Assurance.

Click here for the sway link

https://sway.office.com/uJwu0x58HWCaG3Ii?ref=Link

Y'all can go through our blogspot for even more detailed information from this topic. What you guys waiting for ? Just click on the link below and learn with us

https://mypolyaudit.blogspot.com/.../group-6-chapter-6...

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1. Jom ikuti live yang akan diadakan pada jam 11 pagi tarikh 18 Oktober 2020 di page MyPoly Audit.
2.Ini adalah slide untuk lihat semasa anda di live kami.
https://app.conceptboard.com/board/t3md-i25m-3z92-o536-4se9

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1.Ikuti perbincangan topik 4 di MypolyAudit blogspot.
https://mypolyaudit.blogspot.com/2020/10/review-chapter-4-auditing-in.html

2. Link for our group facebook live
https://www.facebook.com/mypolyaudit/videos/2798679506902094

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Chapter 3: Audit On Financial Statement by Group 3 PSP

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Chapter 3: Audit On Financial Statement by Group 3 PSP

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DAT5C  JUN2020

Discussion about chapter 3 :)
please checkout our blogspot
https://mypolyaudit.blogspot.com/2020/09/review-chapter-3-audit-on-financial.html

link for Facebook Live
https://web.facebook.com/watch/live/v=322177082333660&ref=watch_permalink

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Discussion at Conceptboard https://app.conceptboard.com/board/ru9q-cz3c-5zoc-peaf-b2th#

also at Flipgrid https://flipgrid.com/d33bd1

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Flipgrid is where social and emotional learning happens! The leading video discussion platform for millions of PreK to PhD educators, students, and families.

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1. Ikuti perbincangan topik 1 di MypolyAudit blogspot.
http://mypolyaudit.blogspot.com/2020/08/ulasan-chapter-1-audit-documentation.html

2. FB Live Mypoly Audit di
https://www.facebook.com/watch/?v=1708904982597157&extid=XoGDxU52c9oMMU1v

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Welcome to our blog 😊

We are from group 1, DATB
CHAPTER 1: AUDIT DOCUMENTATION
Group members :

1- Muhammad Ashraf bin Mohd Redzwan 10DAT18F1006

2-Thurgeswari Selvemani 10DAT181073

3- Nor Athirah bt Amran 10DAT18F1028

4- Nuralya Sophia bt Suhaidi 10DAT18F1026

5- Nurdiana bt Mohd Nasir 10DAT18F1014

[Ulasan Kumpulan 1 untuk sesi pembelajaran topik 1?]

Never stop learning, because life never stop teaching

👇👇 CLICK DOWN below to listen and learn topic one 👇👇

Feel free to watch this video okay !!

SHARING IS CARING RIGHT GUYS

For more information for chapter 1, you guys can read the slide that had been prepared💖💖
https://app.conceptboard.com/board/bm2n-55rb-nd94-1qh9-bioq
QUESTIONS and ANSWER SESSION

please fill the answers in the comment section👍👍

1) Three (3) purposes of audit working papers

2) An auditor needs to keep proper audit documents as evidence for use in the future

a-Explain two (2) advantages of proper audit programme

b- List four (4) contents of working papers

3) What is permanent audit and current audit files? Explain.

THE MORE THAT YOU READ,

THE MORE THINGS YOU WILL KNOW.

THE MORE THAT YOU LEARN,

THE MORE PLACES YOU'LL GO.

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Review Chapter 1: Audit Documentation (PSP_DAT5Bjune2020)

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Welcome to our blog 😊 We are from group 1, DATB CHAPTER 1: AUDIT DOCUMENTATION Group members : 1- Muhammad Ashraf bin Mohd Redzwan 10DAT18F1006 2-Thurgeswari Selvemani 10DAT181073 3- Nor Athirah bt Amran 10DAT18F1028 4- Nuralya Sophia bt Suhaidi 10DAT18F1026 5- Nurdiana bt Mohd Nasir 10DAT18F1014 [Ulasan Kumpulan 1 untuk sesi pembelajaran topik 1?]

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Computer Assisted Audit Technique (CAAT)

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Computer Assisted Audit Technique (CAAT)

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CHAPTER 7:AUDIT ISSUES AND LEGAL LIABILITIES - Conceptboard

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Assalamualaikum dan salam sejahtera. Jom melihat video kami.sekian terima kasih.

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Assalamualaikum dan salam sejahtera. Jom melihat video kami.sekian terima kasih.

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Audit Procedures Expenditure (DAT5C group2)

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assalamualaikum dan salam sejahtera. sila tekan link ini untuk melihat video kami.sekian terima kasih.

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1. Ikuti perbincangan topik 1 di MypolyAudit blogspot.
http://mypolyaudit.blogspot.com/2020/08/1muhammad-muaz-bin-mohd-hassan.html

2. FB Live Mypoly Audit di
https://www.facebook.com/watch/?v=224097338943424&extid=L0xK7OkJOG1FMgmE

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Assalamualaikum dan selamat sejahtera

Helloooo we're from group 5 want to share about chapter 5 : Audit Review

Click link below to learn more about Audit Review

https://sway.office.com/S2oPrmcNSloQcu0B?ref=Link

And you guys can scroll down through our Mypoly Audit Padlet and Blogspot to get more discussion for this chapter from the link below :

https://padlet.com/mypolyaudit/dpa5043dec2020

https://mypolyaudit.blogspot.com/2021/05/audit-review.html

Hope you guys enjoy it

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Pink and Grey Realistic Wedding Moodboard Photo Collage (1)

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Group 5
1. NUR AZIKA SYAMIMI BINTI MOHD NOOR 10DAT18F2019
2. NURFITRAH BINTI FAUZEE 10DAT18F2023
3. NUR IYLIA SYAFIQAH BINTI MOHD YUSOF 10DAT18F2031
4. MUHAMMAD ZUHAIRI BIN MOHD MARYADI 10DAT18F2041
5. IVONA NATHAN A/P S. SOOSAI NATHAN 10DAT18F2064

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TEST OF CONTROL ON CIS by Nurfitrah Fauzee on Genially

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Discover more about TEST OF CONTROL ON CIS ✌️ - Vertical infographics

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Assalamualaikum dan selamat sejahtera.Kami dari kumpulan 1 kelas DAT 5C Jun 2020.Sila tekan link di bawah until menonton video yang telah kami buat.Sekian,terima kasih.

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Audit Evidence (31 August - 04  September  2020)

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Audit Evidence (31 August - 04  September  2020)

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Discussion at Conceptboard https://app.conceptboard.com/board/m3ur-x8tn-c3s4-b84a-9o8f

also at Flipgrid https://flipgrid.com/d33bd1

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Audit Documentation (10 - 14 August 2020)

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Audit Documentation (10 - 14 August 2020)

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Discussion at Conceptboard https://app.conceptboard.com/board/7dix-2upr-ahih-2hqb-3p8a#

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Audit Documentation - Introduction - Conceptboard

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Chapter 5 : Audit Review  Group 5 PSP / DAT5C_Jun2020

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Chapter 5 : Audit Review  Group 5 PSP / DAT5C_Jun2020

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Assalamualaikum dan salam sejahtera. We are from Group 5 DAT5C  from Polytechnic Seberang Perai. Our presentation is on Topic 5 : Audit review. We will like to share with u all our live presentation in Facebook, Mypolyaudit and also some activities that we have done to attendance is quizzes . We also like to share over presentation poster.
1. Our discussion for Topic 5 in MypolyAudit blogspot.
https://mypolyaudit.blogspot.com/2020/10/r-eview-chapter-5-audit-review.html

2. Link for our group facebook live
https://www.facebook.com/mypolyaudit/videos/3369732519783074/

3. Our quizizz link
https://www.facebook.com/mypolyaudit/videos/3369732519783074/

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GROUP 2
1. Taufik Ali Bin Mohamed Masoothu (10Dat18f2013)
2. Umatheivi Elangon
(10DAT18F2053)
3. Kevisthirra A/P Asogan (10DAT18F2058)
4. Theanmoli A/P Parmasivan (10DAT18F2007)
5. Shalini A/P Jayasangar (10Dat18F2072)

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security

software acquisition

maintenance controls

IT infrastructure

development

general control

Make sure an organizations control environment is stable and well managed

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GENERAL CONTROL by jayasangarshalini on Genially

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security software acquisition maintenance controls IT infrastructure development general control Make sure an organizations control environment is stable and well managed Lorem ipsum dolor sit Lorem ipsum dolor sit Lorem ipsum dolor sit Lorem ipsum dolor sit Lorem ipsum dolor sit

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Assalammualaikum dan salam sejahtera. Kami dari kumpulan 3 DAT5C 2020. Sila tekan link di bawah untuk melihat video yang telah kami buat. Thank you.
https://www.youtube.com/embed/qlAEPiD3Bl0%22

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Evidential matter is necessary to support the assertions in the financial statements....please watch our video at link below. Thank.

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"Information used by the auditor in arriving at the conclusions on which the auditor's opinion is based. Audit evidence includes both information contained in the accounting records underlying the financial statements and other information. (See Sufficiency of audit evidence and Appropriateness of audit evidence.)"

Evidential matter is necessary to support the assertions in the financial statements. Evidential matter consists of underlying accounting data such as books or journal of original entry and all corroborating information available to the auditor. Underlying evidence for the most part is available to the auditor from within the company. It consists of the accounting data from which the financial statements are prepared, and includes journals, ledgers, computer files, accounting manuals, memoranda, worksheets and spreadsheets supporting items such as cost allocations, computations, and reconciliations.

Our Discussion on this topic

Prepared by Najhan Amani binti Mohd Dzahar (18DAT18F1021) | Noor Nadiah binti Mohd Suhaimi(18DAT18F1019)

Prepared by Siti Sarah Najiha Binti Besri 18DAT18F1011 | Phon Pi Mon A/P Boon Loy 18DAT18F1031 | Phamayla A/P Kam 18DAT18F1023

Prepared by Muhammad Zahir Afiq bin Zulkiflee 18DAT18F1062 | Ahmad Aizzat bin Abdul Karim 18DAT18F1027 | Wan Muhammad Arif Iman bin Wan Nor Azizey 18DAT18F1029

Prepared by Muhammad Firdaus | Aziah Yasmin | Shalini

Prepared by Nurul Atika Binti Zulkarnain (18DAT18F1017) | Nur Raisyah Aqifah Binti Mohd Rozi (18DAT18F1037) | Anis Syahira Binti Rohaizat (18DAT18F1035)

Audit evidence is information used by the auditor in arriving at the conclusions on which the auditor's opinion is based. It comprises source documents and accounting records underlying the financial report, and corroborating information from other sources. Audit evidence is gathered through all stages of an audit.

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"Information used by the auditor in arriving at the conclusions on which the auditor's opinion is based. Audit evidence includes both information contained in the accounting records underlying the financial statements and other information. (See Sufficiency of audit evidence and Appropriateness of audit evidence.)" Evidential matter is necessary to support the assertions in the financial statements.

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Audit Documentation (17 - 21 August 2020)

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Audit Documentation (17 - 21 August 2020)

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Discussion at Conceptboard https://app.conceptboard.com/board/pgq8-ob0c-3gei-b6r3-f3dx#

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Audit Documentation - Audit Files - Conceptboard

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GROUP 3
1.Jaseema Banu Binti Abdul Rahim 10DAT18F2001
2. Shafazrun Nahar Binti Shahul Hamid 10DAT18F2005
3.Noor Lianah Binti Sultan Mydin 10DAT18F2045
4. Haswini A/p Kathiravan 10DAT18F2500
5. Aqil Daniel bin Abdul Kadir 10DAT18F2027

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changing information of technology

The utilization of a computerized information system (CIS) can impact the management and audit team of an organization

risk of using cis

implications of cis

IMPLICATION for the AUDITOR

- Loss of transaction integrity- Pervasive ecommerce security risk- Improper accounting policies- Failure to ensure contacts are binding- Over reliance on ecommerce

Implication for company management

- Audit trail- Audit approach

Oganization chartBusiness transaction

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Copy - MULTICOLOR INFO by Jaseema Banu on Genially

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changing information of technology The utilization of a computerized information system (CIS) can impact the management and audit team of an organization risk of using cis implications of cis IMPLICATION for the AUDITOR - Loss of transaction integrity- Pervasive ecommerce security risk- Improper accounting policies- Failure to ensure contacts are binding- Over reliance on ecommerce Implication for company management - Audit trail- Audit approach Oganization chartBusiness transaction

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Assalamualikum and Selamat Sejahtera. We from group 3 DAT5B PSP Jun 2020. Here is our video. Enjoy it and thank you for supporting us!! 😘

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Audit Procedures Bank and Cash (DAT5B group3)

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Assalamualaikum and salam sejahtera to everyone. We’re from PSP, group 1 DAT5B Jun 2020. Do click this link to watch our video. Enjoy it and thank you!! ❤ https://youtu.be/UWqs_syOgSM

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Assalamualaikum and salam sejahtera to everyone. We’re from PSP, group 1 DAT5B Jun 2020. Do click this link to watch our video. Enjoy it and thank you!! ❤ https://youtu.be/UWqs_syOgSM

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Computer Assisted Audit Technique (CAAT)

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Computer Assisted Audit Technique (CAAT)

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Group 7
1. Muhammad Syahilman Bin Sharaizhi
10DAT18F2068
2. Nur Rabiatul Adawiyah Binti Mohamed Shahar
10DAT18F2051
3.Nur Jazilah binti Mohamed jawathu
10DAT18F2021
4.Nur Zulaikha Binti Mohd Azhar
10DAT18F2017
5. Sri Sahirah Binti Sahadom
10DAT18F1502

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Computer Assisted Audit Techniques (CAATs)

With the advancement in the field of technology, many easy to use and more efficient CAATs tools are available. Accountants of the present business world found this tool very much easier to use as the new upcoming tools come with the guide book and even are users friendly.For working with the CAAT tool, it is essential for the accountant or the auditor to select the right data, the selection process is very much tricky, and you need to be professional for it. After selecting the right data, import that to the CAAT tool, now the tool will automatically generate the analytical data. This tool really contributes to the efficiency of the auditors.

Computer Assisted Audit Techniques (CAATs) is the tool which is used by the auditors. This tool facilitates them to make search from the irregularities from the given data. With the help of this tool, the internal accounting department of any firm will be able to provide more analytical results.

These tools are used throughout every business environment and also in the industry sectors too. With the help of Computer Assisted Audit Techniques, more forensic accounting with more analysis can be done. It's really a helpful tool that helps the firm auditor to work in an efficient and productive manner.

The CAAT tool supports the forensic accounting in which larger amount can be diverted to the analytical form and it also prompts where the tool detects the fraud. This tool simplifies the data and in the automated form.

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Computer Assisted Audit Technique (CAAT) by Muhammad Syahilman on Genially

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Computer Assisted Audit Techniques (CAATs) With the advancement in the field of technology, many easy to use and more efficient CAATs tools are available.

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Assalamualaikum dan salam sejahtera. Kami group 2 DAT5B JUN2020 . Sila tengok video kami

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Assalamualaikum dan salam sejahtera. Kami group 2 DAT5B JUN2020 . Sila tengok video kami

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https://youtu.be/Fga7JV-5zhs

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1.SALEHAH BINTI ABDUL SHUKOR 10DAT18F2025

2.NURUL NADHIRAH BINTI NAJIMUDDIN 10DAT18F2070

3.NUR NAZIRAH BINTI MOHAMMAD HUSNI 10DAT18F2043

4.NURUL BADRI BINTI AHMAD FADZIL 10DAT18F2066

5. IREEN MELISA A/P Francis 10DAT18F2015

https://view.genial.ly/6087b615c3686b1017a1c8e8/interactive-content-characteristic-of-cis

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1. Nurul hidayah Binti Md Shamshuri
(10DAT18F2011)
2 . Muhammad Iftikhar Bin Mohamed Haniffa
(10DDAT18F2029)
3. Maisarah Binti Ibrahim
( 10DAT18F2037)
4 . Zainur Atika Binti Zawawi
( 10DAT18F2047)
5. Melanie Athina Binti Erwin Mukhriz
( 10DAT18F2076)

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Application Control by Melanie Erwin on Genially

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Discover more about Application Control ✌️ - Vertical infographics

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Assalammualaikum and salam sejahtera. We are from group 4 and we will discuss about chapter 4: Auditing in Computerised Information System enviroment. Click on our link to see more information :
https://sway.office.com/D7Ea0CTu7vRXfeiw?ref=Link

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Group 4
1. NURNAJIHA BINTI NAZRI (10DAT18F2003)
2. NUR AISHAH BINTI FIRDAUS ( 10DAT18F2039)
3. NUR ILLYYIN BINTI SHAMSUL BAHRI (10DAT18F2049)
4. LOURINE LOGEESWARY
(10DAT18F2074)
5. AMIRUL HADI B. ADNAN
(10DAT18F2055)

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- An Online system allow direct assess into the computer

Online-line processing

- Communication channels can connect the computer directly to user across the world

Communication Systems

-When the computing function is apportioned among CPU's Spread Geographically

Distributed processing

Follow us!

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The Level of Complexity in CIS

EDP System can be defined by their technical complexity and the extent to which their used in an organization

Group 4

Data base management

-The effect is inefficient use of file space and the need to update files continuosly

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Group 4 : The level of complexity in CIS by Amirul Hadi on Genially

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An Online system allow direct assess into the computer Online-line processing - Communication channels can connect the computer directly to user across the world Communication Systems -When the computing function is apportioned among CPU's Spread Geographically Distributed processing Follow us!

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My name is Madurita Krishnan (10DAT19F1054) Dat 5A

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My name is Madurita Krishnan (10DAT19F1054) Dat 5A

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I'm hoping to score an A for Audit2 in the final examination.

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Nama saya Nur Aina Binti Nor Anuar . 10DAT19F1006
Matlamat saya untuk akhir kursus ini ialah supaya dapat belajar dan lebih faham lagi tentang auditing .

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Hi , assalamualaikum nama saya Siti Nur Shahida binti Ismail , no kad matrik 10DAT19F1203🌸

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Hi , assalamualaikum nama saya Siti Nur Shahida binti Ismail , no kad matrik 10DAT19F1203🌸

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harapan saya untuk sem ini , untuk terus berjaya mencapai matlamat saya insyaallah aamiinn ❤️🤲🏻

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Assalamualaikum dan selamat sejahtera Nama diberi Muhammad Aieman Mukharith bin Md. Kamal (10DAT19F1035) . Matlamat saya untuk Audit 2 ini ialah untuk memperolehi A. Oleh itu saya berharap Encik dapat memberi tunjuk ajar sebaik mungkin. Terima kasih.

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Nama saya Daniel Rizzuan Bin Raja Baharuddin , nombor matriks 10DAT19F1052 . Matlamat saya pada akhir kursus audit 2 ini ialah supaya saya dapat memahami audit dengan lebih dalam untuk merealisasikan cita-cita saya untuk menyambung ijazah dalam bidang perauditan

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Assalamualaikum Encik....
Saya Norsyuhada Roslan . Untuk Subjek ini Audit 2, saya berharap dapat memahami dengan lebih jelas tentang proses-proses yang dijalankan di dalam Audit. Selain itu, dapat menambahkan lagi Ilmu pengetahuan secara am dan khusus bagi bidang pengauditan. Saya juga berharap untuk mendapat keputusan yang lebih baik ...INSHA-ALLAH

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ROSSALINDA REEANA BINTI ROSLI RAJU (10DAT19F1080)

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ROSSALINDA REEANA BINTI ROSLI RAJU (10DAT19F1080)

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Assalamualaikum dan hai encik dan juga kawan-kawan. Nama saya Rossalinda Reeana Binti Rosli Raju. Boleh panggil Rossa. Matlamat saya untuk subjek ini adalah supaya dapat keputusan yang lebih baik berbanding sem lepas serta dapat memahami lagi tentang subjek ini supaya dapat menimbulkan minat terhadap bidang audit.

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1. Siti Aishah binti Hassan
2. 10DAT19F1205
3. Saya berharap semoga saya dapat ingat ilmu ini dan dapat manfaatkannya dialam universiti mahupun pekerjaan

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Assalamualaikum Encik...Nama diberi Nurul Nadiah Bt Muhd Fawzy
No matrik 10DAT19F1036
Matlamat saya untuk subjek ini adalah saya berharap saya akan memperoleh pemahaman dan pengetahuan yang lebih baik bagi mencapai keputusan yang cemerlang untuk subjek ini.

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Hi, assalamualaikum. Nama saya Fitri Nur Atirah Binti Rosli. 

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Hi, assalamualaikum. Nama saya Fitri Nur Atirah Binti Rosli. 

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Matrik nombor saya ialah 10DAT19F1019.
Harapan saya adalah supaya saya lebih memahami apa yang di ajar oleh encik serta dapat memperolehi markah yang lebih bagus untuk subjek audit 2 ini.

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Assalamualaikum dan hi semua!
Nama saya ialah Nurhani Amira Binti R.Azmi.
No matriks saya adalah 10DAT19F1062.
Matlamat saya untuk akhir kursus ini adalah untuk menguasai kursus ini sepanjang sesi pembelajaran supaya saya dapat lulus dengan cemerlang.

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Hi semua～Nama saya Low Shi Ying number matrik 10DAT19F1040. Saya harap boleh dapat A dalam kursus Audit 2 dan juga boleh lebih memahami dalam Audit.

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Nama saya Nur Najwa Hanis Binti Izsma Shaharil . 10DAT19F1027 Matlamat saya di akhir kursus ini ialah supaya saya dapat memahami dengan lebih mendalam tentang bidang pengauditan dan saya juga berharap agar saya mendapat keputusan yang cemerlang dalam subjek ini.

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MUHAMMAD ASYRAF BIN MOHD NOOR (10DAT19F1004)

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MUHAMMAD ASYRAF BIN MOHD NOOR (10DAT19F1004)

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Assalamualaikum Encik, nama saya Muhammad Asyraf Bin Mohd Noor (10DAT19F1004). Matlamat saya untuk kursus ini ialah untuk memahami dengan lebih jelas setiap proses – proses pengauditan yang dilaksanakan dan berharap dapat memperoleh keputusan yang cemerlang dalam kursus ini.

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MUHAMMAD ALIF BIN ABD MALEK (10DAT19F1013)

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MUHAMMAD ALIF BIN ABD MALEK (10DAT19F1013)

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Assalamualaikum, nama saya Muhammad Alif Bin Abd Malek. No matrik 10DAT19F1013. Matlamat saya untuk kursus Audit 2 ini adalah dapat memahami pembelajaran ini dengan baik dan saya berharap agar dapat memperolehi keputusan yang cemerlang.

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Harapan saya untuk subject Audit 2 adalah saya dapat belajar dan memahami lebih mendalam berkaitan dengan auditing. Saya juga berharap agar saya dapat keputusan yang cemerlang .

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NUR IZZATI BINTI ABDUL RASHID 10DAT19F1015

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NUR IZZATI BINTI ABDUL RASHID 10DAT19F1015

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Hai ! Saya Nur Izzati Binti Abdul Rashid. No matrik saya ialah 10DAT19F1015. Matlamat saya untuk kursus ini ialah dapat memahami subjek ini dengan lebih dalam dan berharap agar lulus dengan cemerlang pada akhir sem nanti.

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AMER FAEZ BIN SHAHRUL ANUAR
CALL ME BOB
10DAT19F1031
MATLAMAT :
memahami dan menguasai ilmu audit untuk saya mengadaptasikan di latihan industri serta di waktu kerja nanti

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Assalamualaikum encik. Saya Nurul Ainasaffiya bt Nazeli. Nombor matriks saya adalah 10DAT19F1033. Matlamat saya untuk subjek ini adalah dapat menambah ilmu dan memahami audit 2 serta mendapat keputusan yang cemerlang.

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Assalamualaikum dan hai semua :) Nama saya Aula Qistina bt Johari. No matriks saya adalah 10DAT19F1042 . Matlamat saya untuk subjek ini ialah semoga saya dapat memperolehi banyak ilmu mengenai pengauditan dan memahami subjek ini dengan mudah supaya saya lulus dengan cemerlang untuk subjek ini di akhir sem.

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Assalamualaikum encik , saya Amirah Zulaikha Binti Zulkefli. Nombor matrik saya 10DAT19F1201. Matlamat saya untuk subjek ini adalah untuk memahami dengan lebih mendalam tentang auditing supaya saya dapat lulus dengan cemerlang untuk semester ini .Terima kasih

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1. Kavisha Nagalinggam
2. 10DAT19F1501
3. My goal is to get best result in audit .

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10DAT19F1046. I hope i can score this subject as well as other subjects .

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MUHAMMAD YASIR BIN MOHD YURID
10DAT19F1082
Matlamat saya supaya lebih faham tentang audit knowledge dan mendapatkan keputusan yang cemerlang👍

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Hye Sir I'm Gayatiri Here..  (10DAT19F102 ) In this final sem I'm hoping to Score A and to graduate 🎓 with flying colours🥰❤

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Hello sir ,My name is Visalini Murugan.My matric card number is 10DAT19F1038 .My aim in this audit 2 is score A .I want to thank sir for teaching us Audit 2 in this sem.

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Hi, nama saya Lee Pei Ying dan matrik number ialah 10DAT19F1017. Saya harap boleh score A dalam subject audit 2 dan belajar lebih dalam untuk sub ini.

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Assalamualaikum, nama saya Wan Nur Ain Binti Mohamad Rashid. No matrik saya 10DAT19F1084. Matlamat saya dalam subjek audit adalah saya berharap mendapat keputusan yang cemerlang dan dapat menggunakan ilmu yang dipelajari di alam pekerjaan kelak.💕

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Nama saya Nurul Hanis Binti Amat. No matrik saya adalah 10DAT19F1078. Matlamat saya pada akhir kursus ini ialah supaya saya dapat memahami audit 2 ini dengan lebih mendalam dan mendapat keputusan yang cemerlang.

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Nama saya Noor Quraitul Ain Bt Shamsul Rahman. No matrik saya adalah 10DAT19F1044. Matlamat saya pada akhir kursus ini adalah supaya saya dapat memahami dengan lebih mendalam serta menambah ilmu baru mengenai pengauditan ini dan memperoleh keputusan yang baik untuk subjek audit.

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Nama saya Nur Adlina Binti Jamuddin. No matrik saya 10DAT19F1002. Matlamat saya pada akhir kursus ini ialah saya ingin memperolehi keputusan yang cemerlang serta memahami apa yang dipelajari.

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10DAT19F1076
Matlamat saya di akhir kursus Audit 2 ini adalah supaya saya memahami dan menguasai ilmu audit ini bukan sahaja cemerlang dalam peperiksaan, malah saya dapat menggunakan ilmu yang dibelajar semasa latihan industri dan bekerja nanti.

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Nama saya LIEW SENG WEI. Matrik nombor saya adalah 10DAT19F1500.Matlamat saya pada kursus ini adalah saya harap dapat menguasai ilmu pengetahuan audit dengan sepenuhnya dan saya berharap hadap score subject audit dengan cemerlang💪🏻

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Hi Encikkk, Nama saya Nuril Ain Sofea Binti Mohd Hasrul, no matriks 10DAT19F1010, matlamat saya dalam kos ni semoga dapat faham audit dengan baik ✨

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NUR AISYAH FATHIHAH BINTI ROPIEE
10DAT19F1048

Matlamat saya adalah untuk manambah ilmu pengetahuan saya tentang subjek audit agar boleh diguna di alam pekerjaan kelak. Saya juga berharap agar saya memperolehi keputusan yang cemerlang untuk subjek audit2 ❤️

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Nama saya Khaleda Lyiana Bt Mohamad Roslan. Nombor matrik saya 10DAT19F1058. Saya berharap dapat memahami dan mempelajari audit 2 dengan baik untuk semester ini.

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Assalamualaikum and salam sejahtera. We are from Group 4 will discuss about Audit Evidence (Property, Plant and Equipment).

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Group 4 : Audit Evidence (Property, Plant and Equipment)

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Group 4 : Audit Evidence (Property, Plant and Equipment)

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Click on the link to see more about our Topic :
https://mypolyaudit.blogspot.com/2021/11/audit-in-property-plant-and-equipment.html

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Purchasing cycle
https://mypolyaudit.blogspot.com/2021/11/audit-process.html

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The purchasing process affects prepaid insurance and property, plant, andequipment transactions because such transactions are subject to the control activities included in the purchasing process. For example, control activities in the purchasing process may provide assurance as to the proper authorization and recording of insurance policies.

How does the purchasing process affect prepaid insurance transaction?

If a company prepays its expenses, it usually has the next 12 month to use up that asset. Businesses prepay their expenses all the time. For example, they often pay a year's worth of business insurance at once. They may also pay rent and interest expenses in advance.

At the end of each month, your client's accounting personnel need to prepare a journal entry to book the expired portion of the prepaid expenses. For example if the company pays RM1200 for 12 months of insurance, the prepaid insurance asset account is reduced by RM 100 every month, and the insurance expenses account is increased by RM100.

Identify two substantive analytical procedure that can be use to audit prepaid insurance.

Sufficient appropriate evidence on prepaid insurance can generally be gathered by performing substantive analytical procedures. Substantive analytical procedure for prepaid insurance.

Due to the few transactions, and the usually immaterial balance of the prepaid insurance account, substantive tests are effective for verifying account balance

Common substantive procedure for testing the prepaid insurance account include;

Computing the current-year balance in prepaid insurance and insurance expense to prior years' balances, taking any changes in operation into account

Computing the ration of insurance expense to assets or sales and comparing it to prior year's ratios

Computing an estimate of the ending prepaid account balance using the current premium and the amount of the time remaining of the policy at the end of the period.

Auditor is concerned with whether the unexpired portion of prepaid insurance, and this insurance expenses, is properly valued

By verifying the unexpired portion of prepaid insurance, the auditor also verifies

ii) Rights and Obligations

Beneficiary of the policy can be indentified by requesting such information on the confirmations sent to the insurance brokers or by examining the insurance policies.

If beneficiary is someone other than the entity, this could indicate an unrecorded liability, or the another party has a claim again the insured assets

iii) Existence and Completeness

Can test for this in the insurance policies included in the account analysis by sending a confirmation to the entity's insurance brokers requesting information on each policy number, coverage expiration date and premium.

Effective and efficient way of obtaining evident for these two assertions.

iv) Classification

Assertion determine the correctness of classification to account we want to make sure that the accounts are being properly classified or the amount are being properly classified to the proper classes.
Question 3
Confirmation is a useful audit for verifying information related to prepaid insurance. What type of information would be requested from an entity's insurance broker in such a confirmation?

Definition of confirmation is the process of obtaining and evaluation a direct communication from third party in response to a request for informing about a particular item affecting financial statement assertions.

Details of a Certification of Insurance. Certificates of Insurance contain separate sections for different types of liability coverage listed as general, auto, umbrella and workers' compensation. " Insured refers to the policyholder , the person, or company who appears on the certificate as being covered by the insurance. In additional to coverage levels, the certification includes the policyholder's name, mailing address, and describes of the operations the insured performs. The address of the issuing insurance company is listed, along with contact information for the insurance agent or the insurance agency's contact person. If several insurance companies are involved, all names and contact information are listed.

The certificate briefly describes the insured's policies and limits provided for each type of coverage. For example, the general liability section summarizes the six limits the policy offers by category and indicates whether coverage applies on a per claim or per occurrence basis. Because state laws determine the benefits provided to injured workers, the worker's compensation coverage will show no limit. However, an employer's liability coverage limits should be listed. When a client requested a COI, they become a certificate holder. The client's name and contact information appear in the bottom left-hand corner along with statements showing the insurer's obligation to notify the client of policy cancellations.

In conclusion , a company issues a purchase order to a supplier for goods, receives the goods, records an account payable, and pays the supplier. There are several ancillary activities, such as the use of petty cash or procurement cards for smaller purchases. This set of sequential, interrelated activities is known as the purchasing cycle, or expenditure cycle.

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The purchasing process affects prepaid insurance and property, plant, andequipment transactions because such transactions are subject to the control activities included in the purchasing process. For example, control activities in the purchasing process may provide assurance as to the proper authorization and recording of insurance policies.

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https://mypolyaudit.blogspot.com/2021/11/group-1-1.html

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1. Muhammad Yasir Bin Mohd Yurid (10DAT19F1082)
2. Muhammad Asyraf Bin Mohd Noor (10DAT19F1004)
3. Muhammad Alif Bin Abd Malek (10DAT19F1013)
4. Rossalinda Reeana Binti Rosli Raju (10DAT19F1080)
5. Siti Aishah Binti Hassan (10DAT19F1205 )
Introduction
Evidence is used in all walks of life. For example, a police uses evidence to charge a person with a crim. The police gathers evidence using proper procedure during investigations to ensure that the evidence is relevant and competent in proving that the person commits the crime. In auditing, evidence is importance for an auditor to draw conclusion as to whether the financial statement, as a whole, are free from material misstatement. That is, the auditor in an audit engagement aims to obtain reasonable assurance from the work performed, so that the auditor can express an opinion on the financial statements and report accordingly. To gather the evidence on which audit opinion is based, the auditor shall establish an overall audit strategy that sets the scope, timing and direction of the audit, and that guides the development of the audit plan.

ISA 500 define audit evidence as all information used by an auditor in arriving at the conclusions on which the auditor's opinion is based. Audit evidence comprises information that supports and corroborates management's assertions, and any information (for example, management's refusal to provide a requested representation) is used by the auditors, and therefore, also constitutes audit evidence. Particularly, audit evidence includes information contained in the accounting records underlying the financial statement and other information. Other information consists of information obtained from other sources such as previous audits, or firm's quality control procedures for client acceptance and continuance and the work of management's expert. For example, minutes of meetings, control manuals, analyst reports and third-party confirmations are other information that can be used as audit evidence.

Reference : https://accountlearning.com/audit-evidence-meaning-definition-importance/

Accounting standards require that revenue must be realized or realizable and earned before it can be recognized. Discuss what is meant by the terms realized or realizable and earned.

The realization principle is the concept that can only be recognized once the underlying goods or services associated with the revenue have been delivered or rendered, respectively. Thus, revenue can only be recognized after it has been earned. The best way to understand the realization principle is through the following examples:

A pays RM1,000 in advance for a custom-designed product. The seller does not realize the RM1,000 of revenue until its work on the product is complete. Consequently, the RM1,000 is initially recorded as a (in the unearned revenue account), which is then shifted to revenue only after the product has shipped.

A seller ships goods to a customer on credit, and bills the customer RM2,000 for the goods. The seller has realized the entire RM2,000 as soon as the shipment has been completed, since there are no additional earning activities to complete. The delayed payment is a financing issue that is unrelated to the realization of revenues.

The realization principle is most often violated when a company wants to accelerate the recognition of revenue, and so books revenues in advance of all related earning activities being completed.

pay close attention to this principle when deciding whether the revenues booked by a client are valid. Application of the realization principle ensures that the reported performance of an entity, as evidenced from the income statement, reflects the true extent of revenue earned during a period rather than the cash inflows generated during a period which can otherwise be gauged from the cash flow statement. Recognition of revenue on cash basis may not present a consistent basis for evaluating the performance of a company over several accounting periods due to the potential volatility in cash flows.

References : https://www.accountingtools.com/articles/what-is-the-realization-principle.html

Describe the credit function's duties for monitoring customer payments and handling bad debts.

The credit authorization function has the responsibility for monitoring customer payments. An aged trial balance of accounts receivable should be prepared and reviewed by the credit authorization function. Payment should be requested from customers who are delinquent in making payments for goods or services. The credit function is usually responsible for preparing a report of customer accounts that may require write-off as bad debts. However, the final approval for writing off an account should come from an officer of the company who is not responsible for credit or collections.

A Credit Controller, or Commercial Credit Controller, is responsible for assessing credit applications and adhering to company payment policies. Their duties include evaluating financial records to determine an applicant's eligibility, contacting customers or clients to notify them of missed payments and coordinate with marketing sales and accounting professionals to determine payment protocols.

Look for ways to improve debt collection processes.

Distinguish between positive and negative confirmations. Under what circumstances would positive confirmations be more appropriate than negative confirmations?

Positive confirmation is an auditing inquiry that requires the customer to respond, confirming the accuracy of an item. Positive confirmation requires proof of accuracy by affirming that the original information was correct or by providing the correct information if incorrect.

Auditors also use positive confirmation letters to verify accounts payable and accounts receivable or companies. Accounts payables are short-term debts owed by companies to their suppliers. Accounts receivables represent money owed by a company's customers for the sale of goods. Receivables and payables typically have payment terms of 30, 60, or 90 days-meaning a payment needs to be made within that time frame.

Accounts receivables are short-term assets and can be used by companies as collateral to obtain loans or financing from banks. As a result, it's important that the receivables are audited to confirm that the sales were made as well as confirm that the funds from the sales are being collected on time.

References : https://www.investopedia.com/terms/p/positive-confirmation.asp

Positive vs. Negative Confirmation

While positive confirmation requires supporting information despite the accuracy of the original records, negative confirmation requires a response only if there is a discrepancy. During a negative confirmation request, a business may be asked to confirm that an account balance is listed at a specific amount, such as RM100,000. If the current account balance is RM100,000, no additional action is required.

If an individual or business entity is selected for an audit by the Internal Revenue Service (IRS) , the taxpayer must produce records to affirm the information listed on the selected tax returns. The audit might include a positive confirmation request for all sources of income, verification of applicable deductions taken, and proof of claimed gains or losses.

Attendance

https://forms.gle/u2MnUuRQrMGb4uRj9

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1. Muhammad Yasir Bin Mohd Yurid (10DAT19F1082) 2. Muhammad Asyraf Bin Mohd Noor (10DAT19F1004) 3. Muhammad Alif Bin Abd Malek (10DAT19F1013) 4. Rossalinda Reeana Binti Rosli Raju (10DAT19F1080) 5. Siti Aishah Binti Hassan (10DAT19F1205 ) Introduction Evidence is used in all walks of life.

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https://mypolyaudit.blogspot.com/2021/11/audit-evidence-group-8.html

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GROUP 8
1. LOW SHI YING 10DAT19F1040

2. LEE PEI YING 10DAT19F1017

3. NUR ANIS ASFA BINTI JOHARI 10DAT19F1008

4. FITRI NUR ATIRAH BINTI ROSLI 10DAT19F1019
INTRODUCTION
Audit evidence refers to information or data use or collects by auditors as part of their audit works so that they could conclude their opinion on whether or not financial statements are prepared in all material respect and accordance with the applicable financial reporting frameworks.

Audit evidence is obtained by the auditor throughout all of the audit stages, including the planning stage, execution stage, and conclusion stages. And to gather this evidence, the auditors use many different technologies and procedures suitable for them.
QUESTION 1
Describe how the auditor verifies the accuracy of the aged trial balance.
ANSWER:
The auditor verifies the accuracy of the aged trial balance using the following steps:

A copy of the aged trial balance of accounts receivable is obtained from the client.

Compared the total balance to the accounts receivable general ledger balance.

Select a sample customer account to include in the trial balance correctly.

For each selected customer account, the auditor traces the customer ' s balance back to the subsidiary ledger detail.

Verifies the total amount and the amounts included in each column for proper aging.

All these steps explain the manual approach to testing accuracy. Step 3 to 5 will involve the use of computer-helped audit techniques.

List and discuss the three factors that may effect the reliability of confirmation of accounts receivable.

Three factors that affect the reliability of accounts receivable confirmations are:

The type of confirmation request.

Prior experience on the client or similar engagements.

The intended respondent.

considered more reliable the recipient is required to respond to the auditor regardless of whether a misstatement exists or not.

are used when an account contains large individual balances or if errors are anticipated because control risk is assessed to be high.

A positive accounts receivable confirmation requests that the customer indicate whether or not it is in agreement with the amount due.

are used when there are large number of accounts with small balances, control risk is low, and the auditor believes that the customers will devote adequate attention to the confirmation.

Identify three other types of receivables the auditor should examine. What audit procedures would typically be used to audit other receivables?

Types of receivables that the auditor should examine include:

Receivables from officers and employees.

Receivables from related parties.

Notes receivable

The auditor would confirm and evaluate each type of receivable for collectability. The transactions that result in receivables from related parties are examined to determine if they were at " arm ' s length." Notes receivable would also be confirmed and examined for repayment terms and whether interest income has been properly recognized.

In the conclusion and opinion formulation stage, audit evidence is information that the auditor is to consider whether the financial statements as a whole presents with completeness, validity, accuracy and consistency with the auditor's understanding of the entity.

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GROUP 8 1. LOW SHI YING 10DAT19F1040 2. LEE PEI YING 10DAT19F1017 3. NUR ANIS ASFA BINTI JOHARI 10DAT19F1008 4. FITRI NUR ATIRAH BINTI ROSLI 10DAT19F1019 INTRODUCTION Audit evidence refers to information or data use or collects by auditors as part of their audit works so that they could conclude their opinion on whether or not financial statements are prepared in all material respect and accordance with the applicable financial reporting frameworks.

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For more information
Slide: https://drive.google.com/file/d/1QzZ_2OR9WGaCGllGMgnZOyvR-1dzDrmT/view?usp=sharing
Reference: https://drive.google.com/file/d/1v8BMZD8wNssKRuAnQr1g7gonrlR4Og13/view?usp=sharing

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Assalamualaikum and Selamat Sejahtera. Here our Problem Case by DAT5A 😉 For more information 📌 Slide: https://drive.google.com/file/d/1QzZ_2OR9WGaCGllGMgnZOyvR-1dzDrmT/view?usp=sharing Reference: https://drive.google.com/file/d/1v8BMZD8wNssKRuAnQr1g7gonrlR4Og13/view?usp=sharing Group 3: NUR AINA BINTI NOR ANUAR 10DAT19F1006 AULA QISTINA BINTI JOHARI 10DAT19F1042 NUR AISYAH FATHIHAH BINTI ROPIEE 10DAT19F1048 MADURITA KRISHNAN 10DAT19F1054 WAN NUR AIN BINTI MOHAMAD RASHID 10DAT19F1084
Posted by Mypolyaudit on Sunday, December 5, 2021