Audit NINJA Notes – Possible Typo?

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  • #174734
    rbcpa
    Participant

    Hi guys,

    I was going through the NINJA notes for Audit and I think there is a typo, please correct me if I am wrong.

    On page 43 it says: “Audit Procedures – Auditor focuses first on Balance Sheet Accounts, then associated Income Statement items”

    However, shouldnt it be the Auditor focuses first on Income Statement Accounts, and then Balance Sheet Accounts?

    #381750

    Good question – in this case, you're looking for BS items in light of detection risk … Cash … A/R … A/P … Inventory.

     
    Jeff Elliott, CPA (KS)
    NINJA CPA Review
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