Audit

Audit

Assume you have been hired to audit a manufacturing company. Discuss the relationship between the audit of property, plant, and equipment accounts and the audit of repair and maintenance accounts. How would you organize the audit to take this relationship into account?

Discuss the differences between auditing a service company and a manufacturing company. What adjustments would need to be made to the audit planning if you were to audit a service company?

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Audit

Auditors must determine the appropriateness of an organization’s financial reporting policies. The company’s accounting systems are of importance to auditors in their operations. The recording of plant, property, and equipment is done under the Financial Reporting Framework for Small and Medium Sized Enterprises.

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