Explain the difference between an attribute and an exceptioncondition. State the exception condition for the audit procedure: The duplicate salesinvoice has been initialed indicating the performance of internal verification.

Explain the difference between an attribute and an exceptioncondition. State the exception condition for the audit procedure: The duplicate salesinvoice has been initialed indicating the performance of internal verification.

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter5: Professional Auditing Standards And The Audit Opinion Formulation Process

Section: Chapter Questions

Problem 33RQSC

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Question

Explain the difference between an attribute and an exception
condition. State the exception condition for the audit procedure: The duplicate sales
invoice has been initialed indicating the performance of internal verification.

Definition Definition Methods and techniques used by the auditor to gather the appropriate evidence so that a true and fair judgment can be made on the quality of the financial statements of the client. Audit procedures are developed after determining audit objectives, scope, approach, and risk assessment.

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