Answered

Westonci.ca is the Q&A platform that connects you with experts who provide accurate and detailed answers. Explore our Q&A platform to find in-depth answers from a wide range of experts in different fields. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform.

An audit report of the Patpat merchandise company contains the following observations:
- Management has not taken corrective action to resolve past engagement observations related to inventory controls. The estimation for the loss on financial statements is $250,000
- Separation of duties is not proper in the supplier payments process. The estimation for the loss on financial statements is $50,000
Required: Which of the appropriate manual audit procedures could be conducted to gather the necessary evidences to support the findings? (Note: please explain clearly the objective of each audit procedures)

Sagot :

Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Thank you for using Westonci.ca. Come back for more in-depth answers to all your queries.