Audit Program Design Part Iii

audited account Program Design Part III Donna Robinson ACC/546 portentous 6, 2012 Audit Program Design Part III The scrutinise account is unrivaled of the largest accounts on a pecuniary report; it can makes corporeal take holds difficult; and it is one of the closely time consuming image of an audit, according to Arens, Elder, & Beasley. The amount of funds flowing into and out of and the immediate payment account is many quantify larger than any other(a) assets. This makes cash highly susceptible to theft. As such, Anderson, Olds, and Watershed (AOW) allow for focus on designing tests of controls, overture the control risk, essential tests of transactions, analytical procedures, and test the details of balances in the inventory cycle, storage warehouse cycle, and cash cycle at Apollo Shoes, Inc (Arens, Elder, & Beasley, 2012). The purpose and everywhereall accusative to auditing the inventory and warehouse cycle as well as the cash cycle is to provide government agency to the stakeholders and stockholders of the company that the fiscal statements are fairly account for piercing materials, work-in process, blameless goods inventory, cost of goods sold. To ensure the company financial statements are presented fairly, AOW ordain obtain an understanding of the industrial in which the business operates.

The figure of evidence Anderson, Olds, and Watershed requires are documentations, inquiries of the lymph node analytical procedures, observation, reperformance, recalculation, forcible examination and confirmation (Arens, Elder, & Beasley, 2012). Below is good example 1, an internal co! ntrol questionnaire to assist auditors. Apollo Cash Handling Questionnaire model 1 QuestionYesNoN/AComments An essential element of control over cash is segregating among employees the duties of cash handling, reconciling, and maintaining accounting records. When receiving payments by ship, is a place enter maintained by hand in ink? Does somebody independent of the cash receipts process jell the mail log?...If you want to get a salutary essay, show it on our website: OrderCustomPaper.com

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