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Client Name: Apple Inc.		Budget	Actual
For the Period Ended: 9/30/17	Start Date:	7/31/17
Nature of Assignment: Integrated Audit	End Date:	10/31/17
	Hours:	36,000

Audit steps for tests of controls, balances, transactions, analytical procedures, etc. as well as other considerations such as sample size and sample methodology.

(a)	(b)	(c)	(d)	(e)	(f)	(g)
WP	Requirement	Procedure	Comp	Notes and Evidence	Date	Init.
8.0	(Acquisition)
8.1
8.2
8.3
8.4
8.5
8.6
8.7
8.8
9.0	(Payment)
9.1
9.2
9.3
9.4
9.5
9.6
9.7
9.8
10.0	(Fixed Assets)
10.1	Account Balance of fixed assets in a financial statement is accumulated value from past assets additions and deletions up to a given point in time.	Verifies the accuracy of fixed account balance by obtaining the detailed schedule on purchases and dispositions in the current period, including beginning balances.
10.2	Validation of Account transactions that listed in a financial statement are from valid transactions, have been received and actually exist in service.	Verifies the purchases are properly authorized, transactions are valid with the supporting documents such as vendors invoice, and the existence of a recorded fixed assets by physically examine the assets at the place where it supposedly has been placed in service.
10.3	Valuation of Assets	Verify the proper valuation of assets by examining vendors invoices and other purchase supporting documents in reference with the source information on correct asset value and depreciation which reduces the carrying value of fixed assets.
10.4	Classification of Assets	Examine selected repair and maintenance with the supporting transactions documents to determine the recorded fixed assets are correctly classified as capital assets, and certain expenses that should be capitalized as part of the fixed assets.
11.0	(Notes Payable)
11.1	Verification of notes payable interest	Recalculate approximate interest expense on the basis of average interest rates and overall monthly notes payable.
11.2	Verification of notes payable documentation	Audit of the records to verify proper information is recorded and there is proper authorization
11.3	Verification of interest expense	Recalculate approximate interest expense on the basis of average interest rates and overall monthly notes payable.
11.4	Verify the total notes payable	Compare individual notes outstanding with those of the prior year.
11.5
11.6
11.7
11.8
12.0	(Owners Equity)
12.1
12.2
12.3
12.4
12.5
12.6
12.7
12.8

Tickmarks:

(a) Enter the workpaper reference number in this column. For each area of testing, the workpaper number will have a new leading digit. For example, the first cash test would be 1.1 and the second would be 1.2, but upon moving to financial instrument testing, the numbering would start at 2.1. The order will be as follows: 1. Cash 2. Financial Instruments 3. Sales 4. Receivables 5. Inventory 6. Warehousing 7. Payroll 8. Acquisition 9. Payment 10. Fixed Assets 11. Notes Payable 12. Owners Equity

(b) Enter the requirement that the auditor is seeking to meet by testing. For example, balances in accounts receivable exist.

(c) Describe the testing procedure that will take place to meet the audit requirement. To continue with the example from above, confirmations will be sent to third parties to verify the balance stated in the accounts receivable subledger.

(d) Mark Y (Yes) or N (No) to recognize the entity was compliant with the requirement after performing the procedure.

(e) Explain any findings or relevant evidence related to the decision about whether the entity was compliant (Y) or not (N)

(f) Enter the date the staff member determined the entity was compliant or not.

(g) Enter the initials of the staff member that performed the testing.

*** I only need to acquisition and payment***

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