Kudler Fine Foods Audit Processes

Kudler Fine Foods is a local retailer of gourmet foods and ingredients. Through three store-front locations Kudler offers premium products to the local market and regional chefs or restaurants. Since their inception, Kudler Fine Foods has strived to provide the very best customer experience through quality products at reasonable prices and

We will be doing some information gathering to makes sure we are doing the right thing by the company. This will allow us as the developers to utilize the tools for the company and the users to use the best quality product.

As Patricia has given café managers autonomy to manage their bistro, she computerised the financial report system and audit visits have been minimised. Information management’s purpose is to gather information and based on this information decisions are made.

Kudler Fine Foods is an up scaled epicurean gourmet food shop that was founded in 1998 by Kathy Kudler. Kathy Kudler has opened three stores her first store opened in La Jolla in1998, her second store opened in Del mar in 2000, and the third store in Encinitas in 2003.

As part of the training process, each employee will take an examination to verify that they have learned what the training program intended to convey. Routine training will continue to assess employee knowledge and communicate new information, policies, or procedures. New employees will undergo this training as part of the new hire orientation program.

The following provides high-level information about auditing a fictional entity, called Sofitec Computers, created for this case study. This case does not include a complete description of the entity or the industry, nor does it provide comprehensive information on auditing; it is only intended to provide the information that will be necessary and helpful in completing this case study and answering discussion questions.

The recent years there has been many breaches in organizations throughout the globe. These attacks have had terrible outcomes and have cause Havoc on several companies because of the security that they had were vulnerable to external attacks. Many applications and software programs were infected. These attacks all occurred over the internet. As the internet keeps growing it is harder than ever to track down were the attacks generate from (location) that is. Because of these protocols, the security breaches still are occurring and difficult to eliminate and design a cure for them as they change as frequently as technology does. Because of the ease of the attacks, user simply click on a link and the attack is executed. Because of the recent

Communicate access audit results, concerns, and recommendations for improvement and corrective action plan request to management

Information technology (IT) has become increasingly sophisticated and complex, escalating the ongoing change within Kudler Fine Foods. As IT information is adopted within the organization, automation controls many processes within the Kudler’s environment. As Kudler has become more virtualized, a need for increased trust and assurance in the relationships with consumers, partners and suppliers. The swell of e-commerce business has created new ways of conducting an audit. Statement on Auditing Standard 94 (SAS 94) requires that the auditor understands the technological aspect of the organization in order to grasp the internal controls and the assessment of control risks for a proper audit

In looking at the audit from the previous audit period I noticed a couple of mistakes. In response to these mistakes I enlisted a worker in IT who will look at the controls for your computers to make sure they are secure and that only permitted people can enter the computer systems and nobody else so that they proven to be more secure.

Kudler also collects accounting data from all point-of-sale terminals, which includes items sold, the quantities, and prices at the time of customer purchase (University of Phoenix, 2007). The history of sales has more relevance to the research, as the data can produce insight as to customer preferences in food purchases.

A steering committee comprised of personnel from internal audit, information systems, and the finance department are involved in developing the policies of and reviewing the operations of the IT department. This cross-departmental committee helps align the goals of the IT department and the firm as a whole, and helps establish segregation of duties at the manager level so as to establish a culture of openness. Taking this idea of establishing segregation of duties at the managerial level, we find comfort in the fact that the Chief Information Officer (CIO) reviews the logs of the VP, Applications. It is also worthy to note that the IT department has 4 executives that are responsible for different areas of the department and which the CIO is ultimately responsible for reviewing. Although the CIO manages the IT department as a whole, there are 3 levels of management, as the CIO reports to the Chief Financial Officer (CFO) and thus mitigates the risk that oversights or fraudulent activities will be missed. IT Management is a very important area as this helps dictate the tone of the department and helps establish the policies that are in place, but through our review of this ITGC area, we find little risk associated with IT Management and have found evidence that the audit team can rely on the controls put in place.

There are four stages in this audit. The first stage is the planning and risk assessment. This stage of the audit is completed during the initial planning. The risks for Smackey Dog Foods, Inc. can be better identified by understanding the business, its industry, environment, management culture, the type of accounting used, and the competition. The auditors should be able to understand why Smackey’s sales are steadily increasing and its competitors sales are declining. To be more specific, the implementation and design of Smackey’s internal control procedures, processes, and systems are studied and analyzed for the audit team to be able to assess the control risk for each of the transaction related audit objectives, which are accuracy, occurrence, classification, completeness, summarization, and timing and posting.

This article initiates with the introduction on what is audit planning. It basically addresses the audit plan strategy of K & S Corporation limited’s Financial Statements. Being an external auditor of the company, key factors to be considered in auditing the financials of the subject company have been discussed in the article. The most significant accounts at risk being materially misstated have been critically examined citing the possible risks associated with such accounts. Last but not the least, the article concludes with recommendations with respect to audit assessment plan of the company. Hence, this article seeks to act as a ready reckoner guide for an audit manager in audit planning of K & S Corporation Limited.

This research paper focuses on how IT audits are done and how they can help in assisting an organization in its regulatory compliance effort by identifying information security weaknesses prior to an external audit. The key players and their roles are defined, as well as organizational, results-based, point-in-time systems and extended-period audits. This leads to a natural question. In this new world of connected GRC, what is the role of internal audit compared to compliance? Where do these roles remain separate and where do they share responsibilities? How can these professionals work together to drive business value?