Substantive Test, Test Of Controls Or Both? State The Assertions.

Front 1

Trace transactions recorded in the purchases journal to supporting documentation, comparing the vendor's name, total dollar amounts and authorisation for purchase

Back 1

Both
Accuracy and existence

Front 2

Account for a sequence of receiving reports and trace selected ones to related vendors invoices and acquisitions journal entries

Back 2

Both
Completeness and Accuracy

Front 3

Review supporting documents for clerical accuracy propriety of account distribution and reasonableness of expenditure in relation to the nature of the client's operations

Back 3

Substantive test of transactions
Accuracy, Classification and existence

Front 4

Examine documents in support of acquisition transactions to make sure that each transaction has an approved vendor's invoice, receiving report and purchase order included.

Back 4

Test of control
Existence

Front 5

Add the cash payment journal, trace posting of the total to the general ledger and trace postings of individual cash payments to the accounts payable master file.

Back 5

Substantive test of controls
Posting and Summarisation

Front 6

Account for numerical sequence of cheques in the cash payments journal and examine all cancelled or spoiled cheques for proper cancellations.

Back 6

Test of control
Completeness and existence

Front 7

Compare dates on paid cheques with dates in the cash payments journal and the bank cancellation date.

Back 7

Substantive test of controls
Timing