Holmes Institute Auditing Report: Golden State Mining Audit Analysis
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AI Summary
This report provides a comprehensive auditing analysis of Golden State Mining, encompassing an executive summary, introduction, and an overview of the company's key business risks. It delves into the identification of material misstatements, the application of the audit risk model, and the use of analytical procedures for financial statement analysis. The report also addresses materiality, material accounts, assertions, audit procedures, and sampling methods. Key risks such as market risk, credit risk, liquidity risk, and cash flow interest risk are identified and assessed. The report emphasizes the importance of internal controls, detection of errors, and the auditor's role in mitigating risks. The audit risk model, including inherent, control, and detection risks, is explained, and the report concludes with an assessment of the company's financial position and the auditor's opinion. The analytical procedures involved in evaluating the financial statements are also explored.

1
Auditing
Auditing
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Executive summary
The report has provided all the information in relation to the audit which will be performed for
the golden state mining. In that, there is the use of the risks which have been identified. The
misstatements have also been taken into account. There is the explanation which is provided in
respect of the audit risk model which is to be followed by all. The ratios have been calculated
and the performance of the company is evaluated. The risk which is involved in the company is
identified and in that the risk of material misstatement is determined and taken into
consideration. There is a low level of the risk which is involved and with that, all of the assets
and liabilities with their assertions have been provided. In that, the procedure which will be
followed is also taken into consideration. The sampling methods have also been identified.
Executive summary
The report has provided all the information in relation to the audit which will be performed for
the golden state mining. In that, there is the use of the risks which have been identified. The
misstatements have also been taken into account. There is the explanation which is provided in
respect of the audit risk model which is to be followed by all. The ratios have been calculated
and the performance of the company is evaluated. The risk which is involved in the company is
identified and in that the risk of material misstatement is determined and taken into
consideration. There is a low level of the risk which is involved and with that, all of the assets
and liabilities with their assertions have been provided. In that, the procedure which will be
followed is also taken into consideration. The sampling methods have also been identified.

3
Table of Contents
Executive summary.........................................................................................................................2
Introduction......................................................................................................................................4
Overview of the company and Key business risks..........................................................................5
Material misstatement......................................................................................................................6
Audit risk model..............................................................................................................................7
The analytical procedure of financial statements............................................................................8
Materiality......................................................................................................................................10
Material accounts, assertions, audit procedures and sampling......................................................10
Conclusion.....................................................................................................................................15
References......................................................................................................................................16
Table of Contents
Executive summary.........................................................................................................................2
Introduction......................................................................................................................................4
Overview of the company and Key business risks..........................................................................5
Material misstatement......................................................................................................................6
Audit risk model..............................................................................................................................7
The analytical procedure of financial statements............................................................................8
Materiality......................................................................................................................................10
Material accounts, assertions, audit procedures and sampling......................................................10
Conclusion.....................................................................................................................................15
References......................................................................................................................................16
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Introduction
Auditing is the process by which all of the accounts and other aspects will be evaluated and for
that, it is necessary that the same shall be performed for all the companies. In the given report the
audit procedure will be performed for the Golden state mining. In this, the overview of the
company will be provided which will be involving all of the important details in respect of the
company. The analytical procedure will be performed and in that calculation of the ratios will be
made so that the performance of the business can be evaluated. The materiality concept will be
identified and with that, the material accounts which are involved in the business will be
identified. There will be the determination of the assertions which are involved in relation to
them and also the procedure which will be required to be performed. The sampling will also be
considered and will be considered for all of the material accounts that have been identified.
Introduction
Auditing is the process by which all of the accounts and other aspects will be evaluated and for
that, it is necessary that the same shall be performed for all the companies. In the given report the
audit procedure will be performed for the Golden state mining. In this, the overview of the
company will be provided which will be involving all of the important details in respect of the
company. The analytical procedure will be performed and in that calculation of the ratios will be
made so that the performance of the business can be evaluated. The materiality concept will be
identified and with that, the material accounts which are involved in the business will be
identified. There will be the determination of the assertions which are involved in relation to
them and also the procedure which will be required to be performed. The sampling will also be
considered and will be considered for all of the material accounts that have been identified.
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Overview of the company and Key business risks
Golden state mining is the company which has been incorporated in August 2017 in Western
Australia. The registered office of the company is situated in West Perth (Golden state mining,
2019). The main aim of the company is to acquire the quality exploration assets which are there
in Western Australia and to get the listing on the Australian stock exchange.
In the business, there are various operations which are performed and it is required that all of the
risks which is involved in them shall be identified in the best possible manner. There are various
risks and they are as follows:
Market risk: There is the risk which is involved in the market and by that the business is also
affected. There are various fluctuations which take place in the market in terms of the exchange
rate and other aspects and by that the risk is also involved in the business. It is necessary that all
of them are carried in an effective manner in advance so that the adverse impacts of them are not
faced in the upcoming period.
Credit risk: In the business, there are various assets in relation to which the risk is involved.
There is the amount which is provided in advance or the same is due to the other party
(Contessotto and Moroney, 2014). In that risk is involved that whether the other party will be
able to meet with the payment requirements on time. If the payment is not received then the same
is considered as the credit risk.
Liquidity risk: The liquidity is required to be maintained in the business and for that, it is
required that there shall be a proper evaluation which shall be made. In the business, there are
various liabilities which are required to be met and for that, the business will be required to
manage the assets in an effective manner. This will be done so that all of the payments which are
required to be made by the company can be made on the time they are due and no delay is made
in them.
Cash flow interest risk: In the business there are various funs which are arranged from the
external sources and for that it is required that there shall be payment of the interest which is
required (Spira and Page, 2003). They will be paid on the time and the risk which is there in
Overview of the company and Key business risks
Golden state mining is the company which has been incorporated in August 2017 in Western
Australia. The registered office of the company is situated in West Perth (Golden state mining,
2019). The main aim of the company is to acquire the quality exploration assets which are there
in Western Australia and to get the listing on the Australian stock exchange.
In the business, there are various operations which are performed and it is required that all of the
risks which is involved in them shall be identified in the best possible manner. There are various
risks and they are as follows:
Market risk: There is the risk which is involved in the market and by that the business is also
affected. There are various fluctuations which take place in the market in terms of the exchange
rate and other aspects and by that the risk is also involved in the business. It is necessary that all
of them are carried in an effective manner in advance so that the adverse impacts of them are not
faced in the upcoming period.
Credit risk: In the business, there are various assets in relation to which the risk is involved.
There is the amount which is provided in advance or the same is due to the other party
(Contessotto and Moroney, 2014). In that risk is involved that whether the other party will be
able to meet with the payment requirements on time. If the payment is not received then the same
is considered as the credit risk.
Liquidity risk: The liquidity is required to be maintained in the business and for that, it is
required that there shall be a proper evaluation which shall be made. In the business, there are
various liabilities which are required to be met and for that, the business will be required to
manage the assets in an effective manner. This will be done so that all of the payments which are
required to be made by the company can be made on the time they are due and no delay is made
in them.
Cash flow interest risk: In the business there are various funs which are arranged from the
external sources and for that it is required that there shall be payment of the interest which is
required (Spira and Page, 2003). They will be paid on the time and the risk which is there in

6
association with them are identified as the interest risk.
Material misstatement
In the accounts, there are various entries which are made and in them, the chances are involved
that there will be some errors which will be made and they are identified to be the risk of the
material misstatement. It is important for the company that they shall be identified on the time
and then the steps shall be taken by which they will be resolved in an effective manner. All of the
checkings will be made and it will have to be ensured that all of the statements which are
prepared are free from any error or mistake.
The total risk which is involved can be classified into two categories which are the control risk
and inherent risk which are involved in the business. There is the need for the proper internal
control as by that there will be the identification of all the errors which are taking place and the
risk that the system will be weak and will not be fulfilling the required condition will be
considered as the internal control risk (Lobo and Zhao, 2013). The other risk is the inherent risk
and it is the risks which are involved in the processes and it is not possible to identify them as
they are inbuilt and will be affecting all of the transactions.
These risks which are involved are affected by various factors and it is required that they shall be
taken into account. In that size of the business is the main factor which will be affecting as if the
big business will be involved then there high risk which will be present in comparison to the
small business. The chances that errors will be made is more because there will be more
transactions which will be recorded. In addition to that nature of the business is also the factor
which will be affecting the business and the risk which is involved in it.
The company will be required to detect the risks and the error which is involved in the business.
There is the risk which is associated with them and it is identified to be the detection risk. If the
errors will not be identified then this risk will be higher. It is necessary that there shall be proper
detection and by that other risks will be reduced which will be making a positive impact on the
business.
The risk takes place because of the systems and processes which are performed in the business.
the inherent risk is involved in them and for that, there shall be a proper system which shall be
association with them are identified as the interest risk.
Material misstatement
In the accounts, there are various entries which are made and in them, the chances are involved
that there will be some errors which will be made and they are identified to be the risk of the
material misstatement. It is important for the company that they shall be identified on the time
and then the steps shall be taken by which they will be resolved in an effective manner. All of the
checkings will be made and it will have to be ensured that all of the statements which are
prepared are free from any error or mistake.
The total risk which is involved can be classified into two categories which are the control risk
and inherent risk which are involved in the business. There is the need for the proper internal
control as by that there will be the identification of all the errors which are taking place and the
risk that the system will be weak and will not be fulfilling the required condition will be
considered as the internal control risk (Lobo and Zhao, 2013). The other risk is the inherent risk
and it is the risks which are involved in the processes and it is not possible to identify them as
they are inbuilt and will be affecting all of the transactions.
These risks which are involved are affected by various factors and it is required that they shall be
taken into account. In that size of the business is the main factor which will be affecting as if the
big business will be involved then there high risk which will be present in comparison to the
small business. The chances that errors will be made is more because there will be more
transactions which will be recorded. In addition to that nature of the business is also the factor
which will be affecting the business and the risk which is involved in it.
The company will be required to detect the risks and the error which is involved in the business.
There is the risk which is associated with them and it is identified to be the detection risk. If the
errors will not be identified then this risk will be higher. It is necessary that there shall be proper
detection and by that other risks will be reduced which will be making a positive impact on the
business.
The risk takes place because of the systems and processes which are performed in the business.
the inherent risk is involved in them and for that, there shall be a proper system which shall be
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ensured. A company involves various processes and out of all some is very complex and is
difficult to be carried. In the process of performing them, there are chances that the errors will be
made and that will give rise to the risk (Keune and Johnstone, 2012). They need to be controlled
and for that proper understanding of the system which is undertaken will be obtained and this
will be increasing the efficiency of the business. There are many environmental changes also
which affect the business and in such cases, the control risk is affected. The control on this will
be made by including the effective monitoring system in the business. The reporting will be
made in such a manner that there is the least risk which will be involved in the business.
Audit risk model
In the business, there is the process of audit which is performed and that is made by the auditor.
In that, there is the evaluation of the complete reports which are maintained in the business. The
risks which will be involved in that process will be identified as the audit risk. In this risk, there
will be consideration of all the aspects and there will be involvement of the inherent risk, control
risk and detection risk (Mock et al., 2012). They all will be involved and in order to deal with
them there is the need follow the audit risk model and by the help of that, there will be the
determination of the relation which is present among all the risks which are identified.
Audit risk model = control risk X inherent risk X detection risk
The business involves the use of the various policies and procedures and due to them, there is the
involvement of two risks which are the inherent risk and control risk. They are because of the
factors which are involved in the business and they will be affecting the business. They are
difficult to be identified and due to them, there is the inherent risk which is involved. There will
be the use of the control processes and in that there are shortcomings which are involved. There
is a chance that the errors will not be controlled in an effective manner. This happens when the
internal control of the company is weak (Coetzee and Lubbe, 2014). One risk is connected with
the other risk as the inherent risk will have to be identified but if the same is not made possible
then it will be because of the weak internal control system. This shows that an increase in one
risk will also lead to an increase in the same.
In such auditor is required to play an important role and will be required to identify the risks
ensured. A company involves various processes and out of all some is very complex and is
difficult to be carried. In the process of performing them, there are chances that the errors will be
made and that will give rise to the risk (Keune and Johnstone, 2012). They need to be controlled
and for that proper understanding of the system which is undertaken will be obtained and this
will be increasing the efficiency of the business. There are many environmental changes also
which affect the business and in such cases, the control risk is affected. The control on this will
be made by including the effective monitoring system in the business. The reporting will be
made in such a manner that there is the least risk which will be involved in the business.
Audit risk model
In the business, there is the process of audit which is performed and that is made by the auditor.
In that, there is the evaluation of the complete reports which are maintained in the business. The
risks which will be involved in that process will be identified as the audit risk. In this risk, there
will be consideration of all the aspects and there will be involvement of the inherent risk, control
risk and detection risk (Mock et al., 2012). They all will be involved and in order to deal with
them there is the need follow the audit risk model and by the help of that, there will be the
determination of the relation which is present among all the risks which are identified.
Audit risk model = control risk X inherent risk X detection risk
The business involves the use of the various policies and procedures and due to them, there is the
involvement of two risks which are the inherent risk and control risk. They are because of the
factors which are involved in the business and they will be affecting the business. They are
difficult to be identified and due to them, there is the inherent risk which is involved. There will
be the use of the control processes and in that there are shortcomings which are involved. There
is a chance that the errors will not be controlled in an effective manner. This happens when the
internal control of the company is weak (Coetzee and Lubbe, 2014). One risk is connected with
the other risk as the inherent risk will have to be identified but if the same is not made possible
then it will be because of the weak internal control system. This shows that an increase in one
risk will also lead to an increase in the same.
In such auditor is required to play an important role and will be required to identify the risks
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which are involved and take the corrective measures for the same. If this is not performed and
the identification and correction are not made them it will lead to arising of the defection risks.
This is the risk which is identified to be the auditor’s risk. In order to reduce the risks, it is
required that there shall be additional measures which shall be taken by the auditor. By the help
of that, it will be possible to eliminate the risk. The relation is involved as if the control will be
weak then the risk will increase and that will increase the inherent risks also. If the detection of
them is not made in an appropriate manner then it will be giving rise to higher detection risk. All
of them will have to be identified and then relation shall be considered so that the steps to deal
with them can be made in the most appropriate manner.
Golden state mining is the company which is incorporated in 2017 and as it is the new company
so carrying the operations in an effective manner (Golden state mining, 2018). There are fewer
amounts of the risks which are involved in the company. Due to the same, the auditor has
provided the opinion that the financial statements are free from the misstatement and are
representing the true and fair position of the business. All of the risks which have been identified
are not involved in the company and it is free from them and due to this the chance of the
detection risk does not arise.
The analytical procedure of financial statements
The performance of the company is required to be analyzed and for that, there is the need to
evaluate the financial information which is provided in the financial statements. This will be
using all of the information and by the help of that there will be a proper and effective process
which will be performed and there will be the identification of the position which is maintained
the company. The analytical procedure will be performed and in that there will be consideration
of the ratios which will be helping in the determination of the financial performance and position
of the business (Jans, Alles, and Vasarhelyi, 2014). There will be consideration of various
aspects and by them, the relation which is present among them will be identified. The
comparison will be made and the performance will be identified don the basis of them. This will
be requiring the undertaking of the calculation and the same which have been taken for the
golden state mining are presented below:
which are involved and take the corrective measures for the same. If this is not performed and
the identification and correction are not made them it will lead to arising of the defection risks.
This is the risk which is identified to be the auditor’s risk. In order to reduce the risks, it is
required that there shall be additional measures which shall be taken by the auditor. By the help
of that, it will be possible to eliminate the risk. The relation is involved as if the control will be
weak then the risk will increase and that will increase the inherent risks also. If the detection of
them is not made in an appropriate manner then it will be giving rise to higher detection risk. All
of them will have to be identified and then relation shall be considered so that the steps to deal
with them can be made in the most appropriate manner.
Golden state mining is the company which is incorporated in 2017 and as it is the new company
so carrying the operations in an effective manner (Golden state mining, 2018). There are fewer
amounts of the risks which are involved in the company. Due to the same, the auditor has
provided the opinion that the financial statements are free from the misstatement and are
representing the true and fair position of the business. All of the risks which have been identified
are not involved in the company and it is free from them and due to this the chance of the
detection risk does not arise.
The analytical procedure of financial statements
The performance of the company is required to be analyzed and for that, there is the need to
evaluate the financial information which is provided in the financial statements. This will be
using all of the information and by the help of that there will be a proper and effective process
which will be performed and there will be the identification of the position which is maintained
the company. The analytical procedure will be performed and in that there will be consideration
of the ratios which will be helping in the determination of the financial performance and position
of the business (Jans, Alles, and Vasarhelyi, 2014). There will be consideration of various
aspects and by them, the relation which is present among them will be identified. The
comparison will be made and the performance will be identified don the basis of them. This will
be requiring the undertaking of the calculation and the same which have been taken for the
golden state mining are presented below:

9
Ratio Formula 2018
Return on total assets Income/Total assets *100 -149.88%
Current ratio Current assets/current
liabilities
2.43
Total asset turnover
ratio
Revenue / Total assets 0
Debt to equity Total debts/ Equity capital 0.58
The calculation for the ratios is made and in that there is the consideration of the various aspects.
All of the categories of the ratios have been considered and the ratio from each category is taken
into account. The profitability has been considered and for that, there is the determination of the
return on total assets ratio. This is the ratio in which the income which is made with the total
assets is ascertained and compare. It is identified that whether the assets of the company have
been able to generate income or not. In the given case the company has not made any profits and
there are losses which are made they are at the ratio of 149.88% (Golden state mining, 2018).
This is the loss which is made by the company. It will be required by the company that the loss
shall be covered and there shall be an increase in the earnings by which the required profitability
is maintained.
The liquidity of the company has been analyzed and for that current ratio is calculated. In that,
the ratio which is maintained between the current assets and liabilities is taken into
consideration. By the help of this, it will be identified whether the company will be able to meet
all the liabilities on time or not. It is identified to be 2.43 and this shows that the company is
maintaining the adequate liquidity and will be able to meet with all the obligations on time and
no default will be made.
Ratio Formula 2018
Return on total assets Income/Total assets *100 -149.88%
Current ratio Current assets/current
liabilities
2.43
Total asset turnover
ratio
Revenue / Total assets 0
Debt to equity Total debts/ Equity capital 0.58
The calculation for the ratios is made and in that there is the consideration of the various aspects.
All of the categories of the ratios have been considered and the ratio from each category is taken
into account. The profitability has been considered and for that, there is the determination of the
return on total assets ratio. This is the ratio in which the income which is made with the total
assets is ascertained and compare. It is identified that whether the assets of the company have
been able to generate income or not. In the given case the company has not made any profits and
there are losses which are made they are at the ratio of 149.88% (Golden state mining, 2018).
This is the loss which is made by the company. It will be required by the company that the loss
shall be covered and there shall be an increase in the earnings by which the required profitability
is maintained.
The liquidity of the company has been analyzed and for that current ratio is calculated. In that,
the ratio which is maintained between the current assets and liabilities is taken into
consideration. By the help of this, it will be identified whether the company will be able to meet
all the liabilities on time or not. It is identified to be 2.43 and this shows that the company is
maintaining the adequate liquidity and will be able to meet with all the obligations on time and
no default will be made.
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The turnover ratio is calculated and it is identified that it is at 0 and this is because the company
has not made any revenue in the current year. This shows that there is a need for the
improvement and the same will be undertaken in the coming period. The capital structure is
maintained and it is represented with the help of the debt to equity ratio which is calculated
(Golden state mining, 2018). It is at the level of 0.58 and this shows that there are appropriate
sources from which the funds have been collected. This will be increasing the ability of the
company to repay the debts as they will be in control and there will be no excessive cost which
will be required to be borne by the company.
Materiality
The decision making in the company is required to be made in such a manner that all of the
relevant aspects are covered. There will be needed to make the proper analyzation for the same.
There are various material accounts which are involved and in the business and it is required that
all of them shall be identified. This will be done by using the materiality concept and in that, all
of those accounts which will be affecting the business in a great manner will be identified and
taken into account (Kuenkaikaew and Vasarhelyi, 2013). If there will be any error which will be
made in their respect then the company will be required to face the impact of the same. In that,
there will be a risk which will be involved and that will have to be controlled in an effective and
efficient manner. There will be consideration of the various factors in classifying the account as
the material and the main is the value of the transaction. The value which will be higher will be
considered to be material and so that will have to be managed in an effective manner. They will
be identified together with the issue which is involved and by that the company will be taking the
proper step so that the same can be resolved.
Material accounts, assertions, audit procedures, and sampling
Account
Balance
Amount
(2018)
Assertions Audit
Procedures
Audit
Evidence
Sampling
The turnover ratio is calculated and it is identified that it is at 0 and this is because the company
has not made any revenue in the current year. This shows that there is a need for the
improvement and the same will be undertaken in the coming period. The capital structure is
maintained and it is represented with the help of the debt to equity ratio which is calculated
(Golden state mining, 2018). It is at the level of 0.58 and this shows that there are appropriate
sources from which the funds have been collected. This will be increasing the ability of the
company to repay the debts as they will be in control and there will be no excessive cost which
will be required to be borne by the company.
Materiality
The decision making in the company is required to be made in such a manner that all of the
relevant aspects are covered. There will be needed to make the proper analyzation for the same.
There are various material accounts which are involved and in the business and it is required that
all of them shall be identified. This will be done by using the materiality concept and in that, all
of those accounts which will be affecting the business in a great manner will be identified and
taken into account (Kuenkaikaew and Vasarhelyi, 2013). If there will be any error which will be
made in their respect then the company will be required to face the impact of the same. In that,
there will be a risk which will be involved and that will have to be controlled in an effective and
efficient manner. There will be consideration of the various factors in classifying the account as
the material and the main is the value of the transaction. The value which will be higher will be
considered to be material and so that will have to be managed in an effective manner. They will
be identified together with the issue which is involved and by that the company will be taking the
proper step so that the same can be resolved.
Material accounts, assertions, audit procedures, and sampling
Account
Balance
Amount
(2018)
Assertions Audit
Procedures
Audit
Evidence
Sampling
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AUD
Cash and
cash
equivalents
163716 Rights &
Obligations
The cash balance is
in the hands of the
company and it has
the right on the
same.
Existence:
It will exist in the
balance sheet on the
closing date.
The bank
statement
will be
checked
with the
cash book
which is
maintained.
The errors
which are
involved
will be
determined
and then the
reconciliati
on will be
prepared.
Bank
statement
Reconciliation
statement
Cash Book
Selective
sampling in
which 50
transactions
of high
value will
be chosen.
Account
receivables
27660 Completeness:
There are various
parties from which
the amount is due
and the complete
balance of them
will be presented in
reports (Eilifsen
and Messier Jr,
2014).
All the
invoices
will be
matched
with the
entries that
are made in
accounts.
Receivables
Accounts
Bank
statement to
check the
receipt
Random
Sampling in
which some
of the
entries will
be taken on
a random
basis.
AUD
Cash and
cash
equivalents
163716 Rights &
Obligations
The cash balance is
in the hands of the
company and it has
the right on the
same.
Existence:
It will exist in the
balance sheet on the
closing date.
The bank
statement
will be
checked
with the
cash book
which is
maintained.
The errors
which are
involved
will be
determined
and then the
reconciliati
on will be
prepared.
Bank
statement
Reconciliation
statement
Cash Book
Selective
sampling in
which 50
transactions
of high
value will
be chosen.
Account
receivables
27660 Completeness:
There are various
parties from which
the amount is due
and the complete
balance of them
will be presented in
reports (Eilifsen
and Messier Jr,
2014).
All the
invoices
will be
matched
with the
entries that
are made in
accounts.
Receivables
Accounts
Bank
statement to
check the
receipt
Random
Sampling in
which some
of the
entries will
be taken on
a random
basis.

12
Existence:
This will be
existing at the year-
end and will be the
asset for the
company.
The
verification
will be
made from
the
receivables
to identify
that correct
values are
entered.
Sales invoices
Prepayments 93493 Valuation:
The amount which
is paid in advance
will be valued at the
correct value.
Existence:
They will be in the
assets of the
company and will
exist until they are
cleared.
The item
for which
the
prepayment
is made will
be
identified.
There will
be a
checking of
the bank
statement to
identify the
correct
amount
which is
paid.
Bank
statement
Expense book
(Brown-
Liburd and
Vasarhelyi,
2015)
Judgemental
sampling in
which
auditor will
be chosen
on the basis
of their
judgment.
Capitalized 28414 Completeness All the Contract of Selective
Existence:
This will be
existing at the year-
end and will be the
asset for the
company.
The
verification
will be
made from
the
receivables
to identify
that correct
values are
entered.
Sales invoices
Prepayments 93493 Valuation:
The amount which
is paid in advance
will be valued at the
correct value.
Existence:
They will be in the
assets of the
company and will
exist until they are
cleared.
The item
for which
the
prepayment
is made will
be
identified.
There will
be a
checking of
the bank
statement to
identify the
correct
amount
which is
paid.
Bank
statement
Expense book
(Brown-
Liburd and
Vasarhelyi,
2015)
Judgemental
sampling in
which
auditor will
be chosen
on the basis
of their
judgment.
Capitalized 28414 Completeness All the Contract of Selective
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