Page 29 - PowerPoint Presentation

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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