Mantra Company The audit of a material provision was performed by the audit junior as the audit manager was too busy finishing off work for the previous client on which they had been working. Nuna Company The planning section of the file has not been completed. The audit procedures performed were copied over from the previous year’s file and the same approach and sample sizes have been used to conduct this year’s audit. You are required to: Describe the quality control issues arising from each of the findings

Mantra Company The audit of a material provision was performed by the audit junior as the audit manager was too busy finishing off work for the previous client on which they had been working. Nuna Company The planning section of the file has not been completed. The audit procedures performed were copied over from the previous year’s file and the same approach and sample sizes have been used to conduct this year’s audit. You are required to: Describe the quality control issues arising from each of the findings

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

Chapter14: Completing A Quality Audit

Section: Chapter Questions

Problem 32CYBK

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The internal auditors of Brown Electrical Company report to the controller. Because of changes made in the past year to several of the transaction processing programs, the internal auditors created a new test data set. The external auditors requested that the old data set also be run. The internal auditors, embarrassed, explained that they overwrote the original test data set. Required: Outline any potential risks, and determine the courses of action the external auditor should take.
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You are the partner responsible for quality control in Suta Excellence, A well-known audit firm. You are reviewing the findings from a recent post-issuance (cold) review performed by your firm’s compliance department. The following were identified on a number of audits: Zhetta Company Dr Cletus Agyenim Boateng, Dr Emmanuel T. Asare and Mr Augustine Addo A review of working papers found that some working papers had not been signed off by the team member that had completed the work. Some working papers were not dated, and some did not have a signature confirming they had not been reviewed. Petra Company A mandatory procedure included in the audit plan which required a written representation letter to be obtained, had not been completed. A comment had been added by the audit manager stating that there were no issues requiring a written representation from management. Jantra Company An audit test over purchases required a sample of 60 invoices to be tested. 54 had been tested and found to…