456 Chapter Eleven Appendix 11B Illustrative Audit Case: Keystone Computers & Networks‚ Inc. Part III: Substantive Tests—Accounts Receivable and Revenue This part of the audit case illustrates the manner in which the auditors design substantive tests of balances. The substantive tests are illustrated for two accounts—receivables and revenue. This aspect of the audit is illustrated with the following audit documentation: • ABC’s risk assessment working paper that combines the auditors’ assessments
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explaining the significance of the qualitative features indicated by these deviations. Some things you may want to think about: * If the control performance were uniform for the year‚ the deviations would be evenly distributed by month. * Apollo Shoes faced financial problems in the fourth quarter of the year. * Sales transactions with missing bills of lading suggest improperly recorded sales. * December is the month when deviations overstating sales can have the most effect on the
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may not be recorded accurately • Cash may not exist Steps 1. Confirm selected bank accounts and special arrangements Select bank accounts for confirmation in order to obtain a moderate to low level of assurance that the aforementioned audit objectives are achieved. Bank confirmations should be sent to all banking relationships to identify accounts not included in the general ledger. Confirmation requests should be sent under our control and‚ second requests and‚ where warranted
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Case Study III: Inferential Statistics This part of the case study will explore the application of inferential statistics to the Zagat Survey sample data. In Part II‚ claims were made that attempted to extrapolate the sample data to the population‚ but they were statistically invalid. So here in Part III‚ I will properly project the sample data into the population and compare it to the previous methods. Earlier in the study‚ the univariate estimate used was simply the mean value of the sample
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Frequent Shopper Program: Part I The Frequent Shopper Program identifies‚ determines‚ and tracks customers’ purchasing behavior. The program is applied by retailers to attract long-term customers that demonstrate a loyal relationship between both parties (Iterative and Incremental Development Testing‚ 2008). This paper discusses the methods that can be used in the development of the Frequent Shopper Program by Smith Systems Consulting. Waterfall model Waterfall Model operates in a waterfall process
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BSIT-3A Prof. Nueva “Good Design results in Good programs” There’s a lot of program nowadays that are emerging because of many reasons. The number one reason is that it is easy to use. Another is that it is said to be efficient and lastly is that it is eye-catching. Eye-catching‚ in the sense that it easily attracts users not only because of its beauty but also they assure the effectiveness and productivity of the program that they will use. A program now should be tested in order to
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Histories Throughout William Shakespeare’s histories‚ he explores the concepts of leadership and power‚ and how the nobility utilize the concepts for political ascendancy and maintaining power as a monarch. In Shakespeare’s plays‚ Henry IV Part I and Richard III‚ the contrasting characters of Prince Hal and King Richard demonstrate striking similarities in their pursuit and use of power and leadership. Although Prince Hal is destined to be a good king‚ and Richard a bad king‚ the two approach power
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Exercise 17 Problems - Part I: Answers 1. The temperature contrast between the equator and the Arctic region is greatest in the winter‚ because the Arctic region is furthest away from the Sun during that time. 2. (a) The one region of the world where the hypothetical isotherm pattern is actually observed is in the Southern Hemisphere‚ starting at approximately 30° S. (b) The hypothetical pattern is seen here‚ because the oceanic and atmospheric circulations in this region constantly run from
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Strategic Plan‚ Part III: Balanced Scorecard Frederick McFarland BUS/475 June 20‚ 2013 Strategic Plan‚ Part III: Balanced Scorecard The paper will outline and explain the strategic objectives for the company C&C Enterprise Incorporated using the format of the balanced scorecard on page 5. The balanced scorecard provides a framework to translate a strategy into operational terms‚ thus providing measures of the following four quadrants: .Financial‚ Customer Value Perspective‚ Process or Internal
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Control Environment Audit Work Program Project Team (list members): Project Timing: Date Comments Planning Fieldwork Report Issuance (Local) Report Issuance (Worldwide) Audit Objectives The purpose of this audit work program is to assess‚ at a high level‚ and validate key controls in place for the Control Environment. Inadequate or ineffective controls in this area may give rise to financial and operational risks. Risks addressed in this audit work program include: A code of conduct
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