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  • Audit 401 and Audit 402 Assignments 1 Oct 21

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    Hane Minasalbas
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    The document contains assignments for two audit courses - Audit 401 and Audit 402. For Audit 401, students are asked questions about audit planning, key engagement team members, activities at the beginning and prior to an audit, and the differences between audit plans and strategies. For Audit 402, students are asked to provide journal entries for illustrations, solve problems, and differentiate between FOB shipping/destination and perpetual/periodic inventory.

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    The document contains assignments for two audit courses - Audit 401 and Audit 402. For Audit 401, students are asked questions about audit planning, key engagement team members, activities at the beginning and prior to an audit, and the differences between audit plans and strategies. For Audit 402, students are asked to provide journal entries for illustrations, solve problems, and differentiate between FOB shipping/destination and perpetual/periodic inventory.

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    11 views1 page

    Audit 401 and Audit 402 Assignments 1 Oct 21

    Uploaded by

    Hane Minasalbas
    The document contains assignments for two audit courses - Audit 401 and Audit 402. For Audit 401, students are asked questions about audit planning, key engagement team members, activities at the beginning and prior to an audit, and the differences between audit plans and strategies. For Audit 402, students are asked to provide journal entries for illustrations, solve problems, and differentiate between FOB shipping/destination and perpetual/periodic inventory.

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    © All Rights Reserved
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    of 1

    Audit 401: Audit Theory

    Please see below assignment for 1 October 2021. Please submit your completed assignment via email
    – cap.santillan@gmail.com. These would be discussed on Monday, 4 October 2021.

    1. What are the roles of audit planning? When should audit planning commence?
    2. Do key engagement team members need to be involved during audit planning? If yes, why? If
    not, why not?
    3. Provide the activities that auditors will undertake at the beginning of the current audit
    engagement.
    4. What are the activities that the auditor need to undertake prior to starting an initial audit and
    why this is/these are important?
    5. Are audit plans similar to audit strategy? If not, describe the differences.

    Audit 402: Audit Problem

    Please see below assignment for 1 October 2021. Answers would be discussed on Wednesday, 6
    October 2021.

    1. Please provide journal entries on illustrations 1 to 2 on pages 359 to 361.


    2. Please solve Problems 12-1 to 12-7 on pages 419-422.
    3. Differentiate:
    a. FOB shipping point and FOB destination
    b. Perpetual and periodic inventory

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