Preview

Audit Proposal

Satisfactory Essays
Open Document
Open Document
98 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Audit Proposal
ACC 542 Week 5 Learning Team Assignment Audit Proposal
To purchase this material click below link http://www.assignmentcloud.com/ACC-542/ACC-542-Week-5-Learning-Team-Assignment-Audit-Proposal For more classes visit www.assignmentcloud.com Management at Kudler Fine Foods now wants to see the proposed audit schedules for the systems analyzed by the team in Week Two. • Prepare a 700- to 1,050-word brief that:
• Distinguishes between the types of audits that could be used for each process.
• Recommends the audit most appropriate for each process.
• Explains how the audits will be conducted.
• Identifies events that could prevent reliance on auditing through the computer.

You May Also Find These Documents Helpful

  • Good Essays

    Kudler Fine Food has expanded business and updated their computer systems to meet demands. As IT information is adopted within the organization, automation control processes has become more virtualized. To ensure that Kudler’s computerize systems function properly an audit must be performed on an annual basis. Management at Kudler Fine Foods wants to see the proposed audit schedules for all systems. Management wants to know the types of audit and how they will be conducted. In addition, management would like to know about events that might prevent reliance on auditing through the computer.…

    • 986 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    The audit may be statutory or internal, yet several types of audits exist. As far as Kudler Fine Foods, the related audits are Financial Audits, operational Audits, Department Reviews, Information System Audit, Investigative Audits, Follow-up Audit etc. The financial Audit is historically oriented and independent evaluation is performed so that fairness, accuracy, reliability of financial data is expressed. The gFinancial Audit is mandatory. With respect to the Operational Audit, it is future-oriented and evaluation of organizational activities. The primary source of the financial audit is operational policies and achievements that are related to the organizational objectives. However financial data may be utilized for the purpose and internal controls/efficiencies can be evaluated during operational audit.…

    • 315 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Group Paper

    • 1197 Words
    • 3 Pages

    Management at Kudler Fine Foods now wants to see the proposed audit schedules for the systems analyzed by the team in Week Two.…

    • 1197 Words
    • 3 Pages
    Powerful Essays
  • Good Essays

    audit seminar wk 8

    • 587 Words
    • 3 Pages

    No monitoring or supervisions of the clocking in process. This means that employees can abuse the system as proven by the worker caught clocking in his colleagues. This means that employees are being paid for work they are not doing. This will increase the payroll expense as more hours will be needed to complete the same level of work. It could also push back targets, with the possibility that it could cause delays in Chuck Industries shipping out products to customers. It may also lower morale in among employees who work hard and follow company protocols, if they see colleagues getting away with abusing the system, they may decide to follow suit. There is also the possibility that colleagues could be clocking each other out hours after leaving work, to try and get unauthorised overtime, increasing the payroll spend for the company…

    • 587 Words
    • 3 Pages
    Good Essays
  • Good Essays

    3-3 What is the purpose of an engagement letter? List the important information that the engagement letter should contain.…

    • 501 Words
    • 2 Pages
    Good Essays
  • Better Essays

    Sales and collections audits test financial information relating to the sales of goods and services to consumers and the payment collection for these sales. In Apollo shoes audit AOW will involve the decisions and processes necessary for the transfer of the ownership of goods and services to customers after they are made available for sale; it begins with a request by a customer and ends with the conversion of material on service into an account receivable and ultimately into cash. There are several functions include in this cycle such as processing customer orders, granting credit , shipping goods, billing customer , recording sales , processing cash receipts, sales return & allowances process, charging off uncollectible accounts receivable and provision for bad debts. Auditors will also compare the company's accounting manual to Generally Accepted Accounting Principles (GAAP) to ensure that Apollo Shoes has no major violations of GAAP have occurred. Other testing measures verify that the sales is to a legitimate outside individual or…

    • 1791 Words
    • 8 Pages
    Better Essays
  • Powerful Essays

    Software quality is of the utmost importance to any project undertaken by SSC. To this end SSC has developed a multi-phased audit process that ensures that the Frequent Shopper Program meets the defined requirements. Planning what will be audited, how it will be audited and how those audits will be verified is an essential portion of a quality assurance process. The initial phase of the QA process will be defining what audits need to be conducted and what requirements those audits must meet before being verified. Kudler Fine Foods Frequent Shopper Program must undergo a number of audits prior to delivery.…

    • 2834 Words
    • 12 Pages
    Powerful Essays
  • Better Essays

    When engaged in auditing a public firm, such as Apollo Shoe Inc., an auditor must determine when to trust in the company’s internal controls and when to ascertain auxiliary testing methods are obligatory to analyze control risks. The sales and collection cycle is rather a substantial fraction of the audit because this unique segment employs a multitude of documentation and records ranging anywhere from customer and sales orders, shipping documents, credit memos, and general journal entries; therefore, a working comprehension of the diverse paperwork is indispensable. “Before auditors can assess control risk and design tests of controls and substantive tests of transactions, they need to understand the business functions and documents and records in a business” (Arens, Elderly, & Beasley, 2012, p. 443).…

    • 1854 Words
    • 8 Pages
    Better Essays
  • Good Essays

    Audit 1

    • 1365 Words
    • 5 Pages

    This letter is to confirm our understanding of the terms of our engagement as the auditors of Oceanview Marine Company for the year ended December 31, 2014.…

    • 1365 Words
    • 5 Pages
    Good Essays
  • Powerful Essays

    Audit

    • 2218 Words
    • 9 Pages

    Fraud Risks: Description: Management may be motivated to overstate revenue and receivables to improve financial results due to impending sale of…

    • 2218 Words
    • 9 Pages
    Powerful Essays
  • Satisfactory Essays

    Management at Kudler Fine Foods has reviewed the flowcharts prepared in Week Two and is requesting information on controls that will be required.…

    • 116 Words
    • 1 Page
    Satisfactory Essays
  • Satisfactory Essays

    Audit

    • 455 Words
    • 2 Pages

    a) Considering the information above, determine the two main assertions at risk in relation to inventory. Briefly, explain your answer.…

    • 455 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    audit practice case on your system and the most effective advantage is you can get free manuals mainly readily…

    • 1498 Words
    • 7 Pages
    Satisfactory Essays
  • Powerful Essays

    Audit Program Ii

    • 2090 Words
    • 9 Pages

    The purpose of this part of the audit process for Apollo Shoes is to design tests of controls, substantive tests of transactions, and analytical procedures for the sales, collection, payroll, personnel, acquisition, and payment cycles. These test and procedures are with intent to attest operating effectiveness of internal controls of Apollo Shoes on the basis of documentation provided. It is with the understanding that with the performing of test and procedures an opinion can be formed but management of Apollo shoes is responsible for the maintenance and assessment internal controls of over financial reporting. The design of test of controls of the sales and collection cycle follows.…

    • 2090 Words
    • 9 Pages
    Powerful Essays
  • Good Essays

    The primary objective of the audit is to issue an opinion on the financial statements of the company. With this opinion, the users of the financial statements are able to know that the financial statements are presented fairly and in accordance with the Generally Accepted Accounting Principles. “An auditor’s opinion enhances the degree of confidence that intended users can place in the financial statements” (Arens, Elder, & Beasley, 2014). If the statements are not fairly stated, then we will notify all users with the report.…

    • 1664 Words
    • 7 Pages
    Good Essays