Audit

Planning, performing and reporting are the three major stages of auditing. The first stage in an audit is the planning stage. The planning stage consists of getting to know the client, pinpointing factors that could impact the risk for a material misstatement for the financial records, and creating an audit strategy (Wiley,2015). Marilyn Terrill is the senior auditor for the the Uden Supply Company audit, for this client she will need to perform the analytical procedures and calculate the…

Martinez Fraud Auditing May 1, 2016 Fraud Audit Program: Hollate Assess: Fraud: Type/Scheme Control Opportunity Occurs/Fraud Scenario Concealment Red Flags Conversion Journal Entry Scheme The scheme likely occurred due to management override of controls. Strengthen controls to discourage management override may prevent this from happening again. CFO is creating journal entries to increase company inventories and decrease costs of goods sold. Internal audit team was required to meet…

long as the IT Audit director meets AT §101.51, they should have the ability to reject any change. If the IT audit director can provide sufficient evidence to prove a reasonable basis for wanting to delay implementation of a change, she should have that power. With that said, there needs to be a policy in place to govern changes to production. Changes need to be properly evaluated and authorized before implemented. This is not an appropriately designed control procedure. The IT Audit Director…

this review period, CAFM was internally audited and Harry was the primary responder to many of the auditors’ questions and information requests. The JCC audit team’s inquires focused, in part, on contract details and executive decisions made over 10 years ago and Harry responded to the detailed requests for information effectively and thoroughly. Audit inquiry was an arduous process spanning several months looking at every aspect of the program. Harry’s precise responses contributed…

The auditors could have detected this embezzlement and fraud by performing additional audit procedures for cash and inventory. With respect to cash-skimming scheme, the auditor could investigate further on the “Office” line item of certain cash report sheets by inquiring the company’s personnel and the management. Similarly, the auditor could also use analytical procedures to gain an overall assessment of sales and profitability across individual stores. Because the cash receipt was taken into…

Jimmy Gonzalez said that he supervised about 12 maintenance workers during the audit period. Peter Chavez, Jonathan Solorzano, Romar Marty, Robert Sintran and Tamary Daley are some of the workers he supervised during the audit period. He attends phone calls from the maintenance workers. He also visits different school sites. AHRC has four stripping machines, two extractors, one buffing machine and three shop vacuums. He transports these equipment based on the need of school sites. If any of the…

auditor in planning and performing the audit. First, double checking the inventory. As a retailer company, inventories are the most important assets that account for more than half of the pier 1’s assets and they are the main resource of revenue, so this account has high risk and should be kept on a stable level. However, as I analysis it before, the inventories were 32 million lower for the nine month ended Nov.28, 2015. The auditor should use relative inventory audit procedures such as the…

Equity audits provide information on the characteristics of students, school personnel, and other resources the communities have at the school level to provide information that may inform questions of equity. Consequently, the information helps us develop potential solutions that benefits students and the community. Equity audits are an emerging inquiry method that appears to be gaining momentum in the educational policy arena (Skrla, McKenzie, & Scheurich, 2009). Equity ensures students have…

Primary and Secondary Research In order to conduct diversity audit, primary as well as secondary methods of data collection are used to fulfill desired outcomes. For case, there are two different kinds of methods used to collect the information about the diversity audit in the context of Sam’s Club. For instance, in this diversity audit, primary data are collected through questionnaire, interview, employees survey and observing the perceptions of the employees of the company. This data is…

strategies in organisations. Another objective would be to describe the information and knowledge audit by looking at various ways of conducing investigations of what is currently happening in your organisation. In this…