John Wayne International Airport is the sole commercial airport in Orange County. General aviation operations outnumber commercial operations and several facilities at the airport serve the general aviation and corporate aviation community. The other general aviation airport in the county is Fullerton Municipal Airport.
Inventory, general expenses, and payroll. â Cash, accounts receivable, and sales. These accounts are part of the acquisition cycle. When auditing the existence assertion for an asset, auditors proceed from the Supporting original transaction documents to the general ledger. General ledger back to the supporting original transaction documents. Financial statement amounts back to the potentially unrecorded items.
.02 The auditor has a responsibility to plan and perform the audit to ob-tain reasonable assurance about whether the ï¬nancial statements are free of material misstatement, whether caused by error or fraud.1 Because of the na-ture of audit evidence and the characteristics of fraud, the auditor is able to