高顿网校ACCA小编为各位ACCA学员整理了一些科目的精选练习题，希望大家查漏补缺，对考试有所帮助。
       Goods received and Invoicing

　　To speed up the ordering to receipt of goods cycle,the goods are delivered directly from the suppliers to the individual stores.On receipt of goods the quantities received are checked by a sales assistant against the supplier‘s delivery note,and then the assistant produces a goods received note(GRN).This is done at quiet times of the day so as to maximise sales. The checked GRNs are sent to head office for matching with purchase invoices.

　　As purchase invoices are received they are manually matched to GRNs from the stores,this can be a very time consuming process as some suppliers may have delivered to over 500 stores.Once the invoice has been agreed then it is sent to the purchasing director for authorisation. It is at this stage that the invoice is entered onto the purchase ledger.

　　(b)As the external auditors of Greystone Co,write a report to management in respect of the purchasing system which:

　　(i)Identifies and explains FOUR deficiencies in that system;

　　(ii)Explains the possible implication of each deficiency;

　　(iii)Provides a recommendation to address each deficiency.A covering letter is required. Note:Up to two marks will be awarded within this requirement for presentation. (14 marks)

　　(c)Describe substantive procedures the auditor should perform on the year-end trade payables of Greystone Co.(5 marks)

　　(d)Describe additional assignments that the internal audit department of Greystone Co could be asked to perform by those charged with governance. (6 marks)

　　(30 marks)

　　2(a)Explain the concept of TRUE and FAIR presentation. (4 marks)

　　(b)Explain the status of International Standards on Auditing. (2 marks)

　　(c)ISA 230 Audit Documentation deals with the auditor‘s responsibility to prepare audit documentation for an audit of financial statements.

　　State FOUR benefits of documenting audit work.(4 marks)

　　(10 marks)

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