Acl Assignment

Topics: Invoice, Accounts receivable, Accounts payable Pages: 3 (549 words) Published: July 7, 2011

For this problem, use “Metaphor_APTrans_2002 file in ACL_Demo.”

The suggested command or other source of information needed to solve the problem requirement is included at the end of each question.


A. Run the following ACL tests:

1. Total the Invoice Amount column for comparison with the general ledger balance of $276,841.33 (Total Field).

2. Recalculate unit cost times quantity and identify any extension misstatements (Filter).

3. Products that Metaphor purchases should not exceed $100 per unit. Print any purchase for subsequent follow-up where unit cost exceeded that amount (Filter).

4. Identify the three vendors from which the largest total dollar accounts payable transactions occurred during 2002 (Summarize and Quick Sort).

5. For each of the three vendors in question 4, list any transactions that exceeded $15,000 for subsequent follow-up. Include the vendor number, invoice number, and invoice amount (Filter. Note that the Vendor Number is actually a character rather than a number, so you need to enclose it in quotes when using it in an expression.).

6. Vendor numbers 10134 and 13440 are parties related to Metaphor. Print any accounts payable transactions with these two vendors (Filter). Also, determine the total amount of transactions with each vendor (Summarize).

Note: 1 mark for each test performed and result of the test to a total of 6 marks

B. For each of the computer-assisted audit procedures listed in part (a), identify the audit objective(s) associated with the test. Justify your response. (1 mark for each test each, total of 6 marks)

C. For each of the procedures listed in part (a), state the fraud risk that is addressed by the audit procedure. Justify your response. (1 mark for each test, ½ mark each, total of 3 marks)

D. Identify audit procedures that are required to follow up any unusual results from each ACL audit test ran in a. Explain the purpose of each audit procedure. (1 mark...
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