Page 9 - PowerPoint Presentation
P. 9

IMPORTANT ELEMENTS OF THE AUDIT PROCESS




            MANAGEMENT OVERRIDE OF CONTROLS





            • Refer to Auditing Notes page 7/35



            • Consider the presence of fraud risk factors


            • Consider client’s controls over authorisation of all


                of journal entries.


            • Whether characteristics of fraudulent journal


                entries are present.


            • Nature and complexity of accounts used to post


                journal entries.


            • Whether journal entries are outside the normal


                course of business.





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