The auditor should have the ability to trace the transactions as recorded in the system...
90.2K
Verified Solution
Link Copied!
Question
Accounting
The auditor should have the ability to trace the transactions as recorded in the system from the initial stages to the preparation of financial statements. It is the means by which the individual transaction can be traced sequentially through the system from the source to the completion and its loss will mean that the normal audit technique to be carried will break down.
Required: What are the factors that contribute to the above situation and how will it be resolved by auditors
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
