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Week 5 – Discussion 1 Prior to beginning work on this discussion forum, read Cha

Week 5 – Discussion 1
Prior to beginning work on this discussion forum, read
Chapters 14 and 15 in the course textbook.
The auditors may decide to confirm accounts payable on an
audit engagement. Address the following in your discussion post:
·        
Describe the audit
circumstances in which the auditors are likely to decide to confirm accounts
payable.
·        
Describe the types of
accounts payable the auditors are likely to select for confirmation.
·        
Describe why auditors
are concerned with the completeness of accounts payable.
·        
Describe three ways in
which the auditors establish the completeness of accounts payable.
In the audit of interest-bearing debt, auditors identify
audit objectives and then determine appropriate audit procedures. Address the
following in your discussion post, as well:
·        
List the audit
objectives for substantive tests of interest-bearing debt.
·        
List seven substantive
tests for interest-bearing debt to help the auditors meet the audit objectives.
Write: Make sure your response is more than
200 words and that you include an in-text citation or a brief quote from the
reading material where appropriate. You may find the Writing Center’s APA: Citing Within Your
PaperLinks to an external site. resource helpful in citing your
sources.
Week 5 – Discussion 2
Prior to beginning work on this discussion forum, read
Chapters 14 and 15 in the course textbook.
To establish effective internal control over a
corporation’s stock transactions, the corporation should utilize the services
of an independent registrar and transfer agent. Address the following in your
discussion post:
·        
Describe the functions
performed by the stock registrar.
·        
Describe the functions
performed by the transfer agent.
·        
Describe the information
typically requested by the auditors in a confirmation sent to the registrar.
Write: Make sure your response is more than
200 words and that you include an in-text citation or a brief quote from the
reading material where appropriate. You may find the Writing Center’s APA: Citing Within Your
PaperLinks to an external site. resource helpful in citing your
sources.

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