ACCT 401 Auditing Principles and Procedures Question

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College of Administrative and Financial Sciences
Assignment (3)
Deadline: End of Week (12) 10 April 10th, 2021 @ 23:59
Course Name: Auditing Principles and
Procedures
Student’s Name:
Course Code: ACCT401
Student’s ID Number:
Semester: 2nd
CRN:
Academic Year: 1441/1442 H
For Instructor’s Use only
Instructor’s Name:
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. What are the audit procedures for identifying contingent liabilities?
(1 Mark)
2. Discuss the theories of ethical behavior? (1 Mark)
3. The following four situations require a modification to the standard
unqualified/unmodified audit report. Identify the modification required for
each. (1 Mark)
a.
b.
c.
d.
Opinion based in part on the report of another auditor.
Going concern.
Lack of consistency.
Additional emphasis.
4. As an auditor of a reputed company in KSA explain how the Statement of
retained earnings and Income Statement are audited. (2 Marks)

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audit procedure

auditing principles

audit controls

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