Page 146 - AAA Integrated Workbook STUDENT S18-J19

Chapter 93 4

4.3 Audit procedures

 Inspecting prior year working papers.

 Assessing the entity’s procedures for identifying, authorising and recording
related party transactions.

 Enquiring about relationships between those charged with governance and
management and other entities.

 Inspecting shareholder records for details of principal shareholders.

 Inspecting minutes of shareholders’ meetings and other relevant minutes and
records.

 Enquiring of other auditors involved with the audit.

 Inspecting the entity’s income tax returns and other information supplied to the
regulatory authorities.

 Reviewing transactions with abnormal terms of trade or appear not to have a
logical business reason.

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