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    Auditing and Quality Assurance

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    Niyonzima
    The document outlines the statutory and professional obligations of an auditor during an audit examination. It discusses key principles like objectivity, compliance, confidentiality, and honesty. It then provides examples of audit programs for purchases and cash that outline the specific steps and procedures an auditor would follow to properly audit those areas, such as reviewing purchase orders, invoices, material records, and stock registers for purchases, and checking cash balances, receipts, payments, bank statements and deposits for cash.

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    Auditing and Quality Assurance

    Uploaded by

    Niyonzima
    26 views3 pages
    The document outlines the statutory and professional obligations of an auditor during an audit examination. It discusses key principles like objectivity, compliance, confidentiality, and honesty. It then provides examples of audit programs for purchases and cash that outline the specific steps and procedures an auditor would follow to properly audit those areas, such as reviewing purchase orders, invoices, material records, and stock registers for purchases, and checking cash balances, receipts, payments, bank statements and deposits for cash.

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    AUDITING AND QUALITY ASSURANCE

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    The document outlines the statutory and professional obligations of an auditor during an audit examination. It discusses key principles like objectivity, compliance, confidentiality, and honesty. It then provides examples of audit programs for purchases and cash that outline the specific steps and procedures an auditor would follow to properly audit those areas, such as reviewing purchase orders, invoices, material records, and stock registers for purchases, and checking cash balances, receipts, payments, bank statements and deposits for cash.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    26 views3 pages

    Auditing and Quality Assurance

    Uploaded by

    Niyonzima
    The document outlines the statutory and professional obligations of an auditor during an audit examination. It discusses key principles like objectivity, compliance, confidentiality, and honesty. It then provides examples of audit programs for purchases and cash that outline the specific steps and procedures an auditor would follow to properly audit those areas, such as reviewing purchase orders, invoices, material records, and stock registers for purchases, and checking cash balances, receipts, payments, bank statements and deposits for cash.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    FACULITY OF BUSINESS AND MANAGEMENT

    BACHELORS OF BUSINESS ADMINISTRATION

    JUNE 2021, CONTINUOUS ASSESSMENT TESTS: AY 2019/2021

    AUDITING AND QUALITY ASSURANCE

    YEAR 3 SEM 2

    NAME: OKUMU ALEX ODONGO

    REGNO: 19/8/TU/134/BBAW

    CENTRE: PAKWACH STUDY CENTRE

    LECTURER: Ms. NDYAGENDA CATHERINE

    QN 3
    QN 1
    3.

    The following are the statutory and professional obligations the auditor has to achieve during the
    audit examination.

    The basic principles of auditing are planning, honesty, secrecy, audit evidence, internal control system, skill
    and competence, work done by others, working papers, and legal frameworks.

    Objectivity

    The audit report should not be biased, carry conflict of interest or undue influence of others to override
    professional or business judgments thus his report should be objective oriented.

    Compliance

    The auditor is obliged to comply with all the legislations and adhere to professional knowledge and skill at
    the level required to ensure that a client or employer receives competent professional service based on
    current developments in practice, legislation, and techniques.

    Confidentiality

    An auditor is also obliged to ensure confidentiality of information acquired as a result of professional and
    business relationships and should not disclose any such information to third parties without proper and
    specific authority unless there is a legal or professional right or duty to disclose.

    Honesty

    The examination report by the auditor should done with honesty so that it portrays what is in the company.

    Impartial

    The auditor should not be influenced by any bias in discharging his duties. He should be impartial and his
    report.

    1a)

    Audit Program

    An audit program is a set of directions that the auditor and its team members need to follow for the proper
    execution of the audit. After preparing an audit plan, the auditor allocates the work and prepares a program
    which contains steps that the audit team needs to follow while conducting an audit. Thus, an auditor
    prepares a program that contains detailed information about various steps and audit procedures to be
    followed by the audit.

    Using a wholesale as a business of choice. This has three important activities that need audit program namely
    cash and purchase.

    Audit Program for Purchase

    The Audit Program for Purchase/Purchase Return involves the review and check of the following –
     Complete accounting system right from the issuance of purchase orders to suppliers till the payment
    to suppliers/creditors against the purchase invoice.
     Checking of department-wise material requisition slips.
     Authorization of requisition slips and purchase orders.
     Comparison of quantity and rate of purchase bills with purchase order.
     Material inward record with purchase bills.
     Checking of Stock register.
     Checking of purchase return note with purchase bills.

    A program for the audit of cash

     Checking of the opening balance.


     The checking of petty cash
     The checking cash book
     Checking cash receipt and payment voucher
     Authorization for cash payments
     Comparison with the bank statement
     Surprise check of cash balance
     Cash summary
     Examination of direct deposits by the third parties

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