Auditing And Assurance Services
17th Edition
ISBN: 9780134897431
Author: ARENS, Alvin A.
Publisher: PEARSON
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Question
Chapter 14, Problem 25DQP
a.
To determine
Identify underlying business processes related to eight business functions for sales and cash collections for independent scenarios.
b.
To determine
Identify the documents or other source evidence to be used to test the occurrence transaction related objectives for sales.
c.
To determine
Identify the scenario for which sales returns and allowances business functions is not applicable.
d.
To determine
Identify the scenario for which write-off of uncollectible accounts and
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Overview
For this assignment, you will represent a company that does not currently have an accounting information system (AIS) established. Make sure you clearly identify the business line, product type, and market position.
Read this article before you begin:
Identifying the Absence of Effective Internal Controls: An Alternative Approach for Internal Control Audits.
Instructions
Write a 3-4-page paper in which you:
Identify at least four different areas where there could be potential accounting fraud in a company. Make sure you elaborate on your reasoning for why accounting fraud could occur as well as the financial implications on the organization.
Design a method of detection and a method of limiting the possible financial fraud. Provide support for your arguments and rationale using support from your text and supplemental readings.
Provide support for arguments and rationale using AIS knowledge and recent AIS literature.
Draft a one-page recommendation at the end of the document…
Explain why the implementation of ERP in a company, especially SAP, can simplify
the accounting audit process carried out by both internal and external auditors. Link
your explanation with the principles of recording transaction documents in SAP.
Steve Ankenbrandt, president of Beeb Corporation, has been discussing the company’s internal operations with the presidents of several other multidivision companies. Ankenbrandt discovered that most of them have an internal audit staff. The activities of the staffs at other companies include financial audits, operational audits, and sometimes compliance audits.
Required:
Describe the meaning of the following terms as they relate to the internal auditing function:
a. Financial auditing.
b. Operational auditing.
c. Compliance auditing.
Chapter 14 Solutions
Auditing And Assurance Services
Ch. 14 - Describe the following documents and records and...Ch. 14 - Prob. 2RQCh. 14 - Prob. 3RQCh. 14 - Prob. 4RQCh. 14 - Prob. 5RQCh. 14 - Prob. 6RQCh. 14 - Prob. 7RQCh. 14 - Prob. 8RQCh. 14 - Prob. 9RQCh. 14 - Prob. 10RQ
Ch. 14 - Prob. 11RQCh. 14 - Prob. 12RQCh. 14 - Prob. 13RQCh. 14 - Prob. 14RQCh. 14 - Prob. 15RQCh. 14 - Prob. 16RQCh. 14 - Prob. 17RQCh. 14 - Prob. 18RQCh. 14 - Prob. 19RQCh. 14 - Prob. 20.1MCQCh. 14 - Prob. 20.2MCQCh. 14 - Prob. 20.3MCQCh. 14 - Prob. 21.1MCQCh. 14 - An auditor is performing substantive tests of...Ch. 14 - Prob. 22.3MCQCh. 14 - Prob. 23.1MCQCh. 14 - Prob. 23.2MCQCh. 14 - Prob. 23.3MCQCh. 14 - Prob. 24DQPCh. 14 - Prob. 25DQPCh. 14 - Prob. 26DQPCh. 14 - Prob. 27DQPCh. 14 - Prob. 28DQPCh. 14 - Prob. 29DQPCh. 14 - Prob. 30DQPCh. 14 - Prob. 31DQPCh. 14 - Prob. 32DQPCh. 14 - Prob. 33DQPCh. 14 - Prob. 34DQPCh. 14 - Prob. 37ICA
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Similar questions
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