Answered

At Westonci.ca, we make it easy to get the answers you need from a community of informed and experienced contributors. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields. Get detailed and accurate answers to your questions from a dedicated 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 :

Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Get the answers you need at Westonci.ca. Stay informed with our latest expert advice.