SEU Knowledge Application in Accounting Paper

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College of Administrative and Financial Sciences
Assignment (3)
Course Name: Auditing Principles and
Procedures
Student’s Name:
Course Code: ACCT401
Student’s ID Number:
Semester: 2nd
CRN:
Academic Year: 1440/1441 H
For Instructor’s Use only
Instructor’s Name:
Students’ Grade: #
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.
• The Answer should be within 1300-1500 words in length
Assignment Question(s):
IMPORTANT NOTE: Answer in your own words, DO NOT COPY from slides or fellow
student.
1- Identify 4 of the 6 tests an auditor uses on the bank reconciliation?
2- What is the difference between a contingent liability and a commitment?
3- For each of the following situations, indicate what type of audit report is most
appropriate:
a. The auditor lacks independence in fact, but not necessarily in appearance.
b. There is a scope limitation and it is material but the overall financial statements are
still presented fairly.
c. The uncorrected misstatements are immaterial.
d. There is a departure from GAAP and it is pervasively material.
4- Distinguish between the following theories of ethical behavior:
a rights-based approach, and a justice-based approach.

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