During this process you would want to collect any kind of financial information that will be relevant for the completing the audit. Once this takes place, you would want to establish a follow up interview with key personnel in the company. The idea is compare and analyze what you are being told by executives with actual documentation. Where, you would look for inconsistencies when comparing what the person is saying with: various financial numbers and then using common sense. At which point, you would ask them a series of questions and pay attention to changes in their body language and the way they are talking (to determine any kind of inconsistencies through non-verbal cues). (Siegle, 2008) (Beasley, 2008)
Discuss how the Audit Evidence will be evaluated and Conclusion Drawn
The audit evidence will be analyzed based upon comparing the actual numbers, with the various responses from executives at the company. In this case, we are looking for any kind of inconsistencies between: the actual numbers and what executives are saying. Those...
The idea is make certain that all of the various pieces of financial information are as accurate as possible. This means focusing on anything that does not make sense (in order to understand what is taking place). Once this occurs, it will help auditors be able to make an accurate conclusion about the underlying financial state of Torpus. These different elements are important, because they show how corroborating the various pieces of financial information with the interviews will help to identify any kind of anomalies. At which point, they can be analyzed to decide if this could affect the financial viability of the organization. This will provide auditors with the most accurate information, so that they can make a precise analysis of the underlying financial condition of the company. (Siegle, 2008) (Beasley, 2008)
Bibliography
Beasley, M. (2008). GAAS Guide 2009. Chicago, IL: CCH.
Siegle, J. (2008). The Vest Pocket CPA.…
