Homework 1

 Resources   PLEASE USE THE RESOURCES LISTED BELOW...APA SINGLE SPACE. 400 WORDS. Read the afterward standards as presented at the PCAOB https://pcaobus.org/Standards/Auditing/Pages/ReorgStandards.aspx Auditor Reporting 3100 Reporting on Audits of Banking Statements AS 3101: Reports on Audited Banking Statements AS 3110: Dating of the Independent Auditor's Report AS 3320: Association with Banking Statements   Forming an Opinion and Reporting on Banking Statements http://www.aicpa.org/Research/Standards/AuditAttest/DownloadableDocuments/AU-C-00700.pdf   Forming an Opinion and Reporting on Banking Statements: Auditing Interpretations of Section 700 http://www.aicpa.org/Research/Standards/AuditAttest/DownloadableDocuments/AU-C-00700_9.pdf   Modifications to the Opinion in the Independent Auditor’s Report http://www.aicpa.org/Research/Standards/AuditAttest/DownloadableDocuments/AU-C-00705.pdf   Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report http://www.aicpa.org/Research/Standards/AuditAttest/DownloadableDocuments/AU-C-00706.pdf   Special Considerations—Audits of Banking Statements Prepared in Accordance with Special Purpose Frameworks http://www.aicpa.org/Research/Standards/AuditAttest/DownloadableDocuments/AU-C-00800.pdf   Special Considerations—Audits of Single Banking Statements and Specific Elements, Accounts, or Items of a Banking Statement http://www.aicpa.org/Research/Standards/AuditAttest/DownloadableDocuments/AU-C-00805.pdf  Instructions The accountant determines that anniversary of the afterward objectives will be allotment of your analysis of Bozington, Co., Inc. For anniversary analysis objective, baddest a absolute action that would advice to accomplish that objective. Anniversary of the procedures may be acclimated once, added than once, or not at all. Audit Objective 1. Establish the abyss of inventories. 2. Establish the accurateness of amount amounts of inventories. 3. Actuate that the presentation and acknowledgment of inventories and amount of appurtenances awash is adequate. 4. Establish that the applicant has rights to the recorded inventories. 5. Establish the actuality of catastrophe inventory. Substantive procedures a. Appraise accepted vendors' amount lists. b. Review drafts of the banking statements. c. Baddest a sample of items during the concrete account calculation and actuate that they accept been included on calculation sheets. d. Baddest a sample of recorded items and appraise acknowledging vendors' invoices and contracts. e. Baddest a sample of recorded items on calculation bedding during the concrete account calculation and actuate that items are on hand. f. Test the acumen of accepted and authoritative activity rates. 

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