Auditing Standards for Professional Services Auditing Standards for Professional Services   Create Date : 09 ธันวาคม 2560     0 comment Last Update : 9 ธันวาคม 2560 14:44:30 น.     Counter : 618 Pageviews.   Share Tweet

Key Audit Areas The key audit areas are those areas that are the most risky, sensitive and complex areas of the engagement, those areas that are significant in term of materiality regardless of risk classification, and those that are the most significant in terms of formulating auditor's opinion. Significant risks and significant matters (including significant management accounting estimates) Significant auditing considerations or variations from member firm policy Large, complex or unusual transactions Areas that are significant in terms of materiality regardless of risk classification   Create Date : 18 กุมภาพันธ์ 2560     0 comment Last Update : 18 กุมภาพันธ์ 2560 17:44:20 น.     Counter : 706 Pageviews.   Share Tweet

The Sales and Collection Cycle Key objective in the audit of the sales and collection cycle: The account balances affected by the cycle are fairly presented in accordance with accounting standards (US GAAP, IFRS, TFRS, or others). Please be noted that the nature of accounts may vary, of course, depending on the industry and client involved. The accounts affected by the cycle - Sales - Accounts receivable - Allowance for uncollectible accounts - Cash in bank - Cash discounts taken - Sales returns and allowances - Bad debt expense The five classes of transactions in sales and collection cycle: 1. Sales (both cash and sales on account) 2. Cash receipts 3. Sales returns and allowances 4. Write-off uncollectible accounts 5. Estimate of bad debt expense   Create Date : 16 กุมภาพันธ์ 2560     0 comment Last Update : 16 กุมภาพันธ์ 2560 14:09:35 น.     Counter : 552 Pageviews.   Share Tweet