Audit Assignment
amnah96
ACCT401-Assignment2-Studentscopy.docx
College of Administrative and Financial Sciences
Assignment (2)
Deadline: End of Week (9) 20 March 2021 @ 23:59
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Course Name: Auditing Principles and Procedures |
Student’s Name: |
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Course Code: ACCT401 |
Student’s ID Number: |
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Semester: 2nd |
CRN: |
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Academic Year: 1441/1442 H |
For Instructor’s Use only
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Instructor’s Name: |
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Students’ Grade: #/5 |
Level of Marks: High/Middle/Low |
Instructions – PLEASE READ THEM CAREFULLY
· The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.
· Assignments submitted through email will not be accepted.
· Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.
· Students must mention question number clearly in their answer.
· Late submission will NOT be accepted.
· Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
· All answers must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism.
· Submissions without this cover page will NOT be accepted.
Assignment Question(s): (Marks 5)
1. Explain the importance of observing physical inventory during an audit. (1 point)
2. Explain the Concept of Audit Sampling? (2 points)
3. Property, plant, and equipment is often a significant portion of a company's assets. Describe the inherent risk factors that can affect the audit of this account. (2 points)
