Syllabus D3

a) Explain the rationale for designing audit programmes by reference to audit objectives. 
b) Explain the substantive procedures used in auditing each of the following: 
• tangible non-current assets
• investments
• trade receivables, prepayments and other receivables
• trade payables, accruals and other payables
• bank and cash
• non-current liabilities
• provisions

c) Explain why the audit of inventory is often an area of high inherent risk. 
d) Describe the audit procedures that should be undertaken before, during and after attending an inventory count. 
e) Describe the extent to which an auditor may rely on a system of perpetual inventory. 
f) Explain the substantive procedures to meet the specific objectives for the audit of inventory.