WEEK 2 Assignment:
Procedures to collect accounting evidence
ACC 556 WEEK 2: CHECKLIST ď‚¤ ďƒž
Procedures to collect accounting evidence 1. Making an agenda and work flows. 2. Standardize formats for any selection interviews or surveys with employees/witnesses 3.
(i.e. motive evidence -- rumors, job interview, or background check, testimony). Keeping excellent documents as well as logs, making careful documentation, assess risk evaluation, industry patterns, data exploration, organizational background, informants
and assess monitoring operatives, logs, recordings. Follow-up on initial analysis, set up practicing "due careâ€?, keeping complainant or whistle blower information privacy and secret and safeguard them from any harm.
5. Locating any discarded information, locating shredded or destroyed evidence and a 6.
good solution to restore this type of evidence. Get any kind of warrant or court orders in case any assets of suspect must be grabbed or freeze (i.e. boxes and cases of documents, files, papers, as well as computer
systems) Collecting strong proof of a personality, view, rumors, or motive nature and use collected
statistics information. Look for any motive proof but additionally maintaining confidentiality, secrecy, or
concealed operation. The best proof should be cautiously bagged, marked, and recorded in a chain of custodianship which guarantees no contamination or tampering was involved. (Demonstrative proof -- replications, graphs, images, work with copies of it and not the originals.)
Sampling tools and techniques 1. Standard Statistical Tool examination of evidence: Statistical sampling help the auditor develop an effective sample; decide the sufficiency 2.
of the evidential stuff received, and quantitatively assess the sample outcomes. Cash flow method verifying income and assets and assist find out concealed assets and
unreported income. Analyzing the bank reports and looking up any deal in and out of the 3.
accounts and assist searching for the origin. Probability sampling techniques in auditing are same probability for example easy arbitrary and organized sampling and sampling having probability proportional to size for example fiscal unit sampling.
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