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Description College of Administration and Finance Sciences Assignment (1) Deadline: Friday 12/10/2024 @ 23:59 Course Name: Auditing principals and

October 21, 2024

Description

College of Administration and Finance Sciences
Assignment (1)
Deadline: Friday 12/10/2024 @ 23:59
Course Name: Auditing principals and
procedures
Student’s Name:
Course Code: ACCT 401
Student’s ID Number:
Semester: First Semester 23/24
CRN:
Academic Year: 1446 H
For Instructor’s Use only
Instructor’s Name:
Students’ Grade:
/15
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.
Page 1 of 5
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College of Administration and Finance Sciences
Assignment Question(s):
(Marks 15)
Q1. What are the Components of Internal Control? Explain each component? (5 marks)
Answer:
Page 2 of 5
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College of Administration and Finance Sciences
Q2. Why must an auditor assess materiality? (2.5 Marks)
Answer:
Page 3 of 5
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College of Administration and Finance Sciences
Q3. You are the owner of a small grocery store, Corner Marketplace. Explain the five
process categories and how they apply to your business? (2.5 Marks)
Answer:
Page 4 of 5
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College of Administration and Finance Sciences
Q4. Name two management assertions pertaining to the inventory account balance and
explain why they are considered in an audit. (5 Marks)
Answer:
Page 5 of 5
Restricted – ‫مقيد‬

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Description College of Administration and Finance Sciences Assignment (1) Deadline: Friday 12/10/2024 @ 23:59 Course Name: Auditing principals and

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