An institution's internal audit program consists of the policies and procedures that govern its internal audit functions, including risk-based auditing programs and outsourced internal audit work, if applicable. Design tests of controls, substantive tests of transactions, and analytical procedures for the following apollo shoes cycles: sales and collection cycle design tests read more uncategorized acc 546 week 5 learning team assignment audit program design part ii , audit program design part ii. A statement that an audit includes obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as the auditor considered necessary in. Isaca actively promotes research that results in the development of products that it governance, control, assurance, risk and security professionals can use to add value to their enterprises isaca research also informs information technology management and users about is controls and the critical role they play in their organizations. Audit design program iii audit design program iii tonya gaines acc 546 march 4, 2013 michael de marco audit design program iii during phase iii of the audit plan, anderson, olds & watershed (aow) will focus on two important cycles: inventory and warehousing cycle and the cash cycle.
Plan and design a generalized audit program due week 8 and worth 280 points it is common industry knowledge that an audit plan provides the specific guidelines auditors must follow when conducting an external audit. Audit plan relates to preparations made by the auditor for one specific audit engagement while audit planning memorandum is a standing arrangement made by the. Program called elk cloner that targeted apple dos 335 the term virus may actually have originated in the 1970s in science fiction literature 6 , though as a concept it has likely been around since the 1960s. Essay on audit program design part ii audit program design part ii sales and collection cycle the objective in the audit of the sales and collection cycle is to evaluate whether the account balance affected by the cycle are fairly presented in accordance with accounting standards.
Uop acc 546 week 4 learning team audit program design part i write an engagement letter for apollo shoes assume that apollo shoes is a publicly traded company and that they have asked for sox section 404 consulting. Free essays on acc546 audit program design i apollo shoes for students use our papers to help you with yours 1 - 30. Audit program design part ii essay audit design program part ii acc/546 march 12, 2012 apollo shoes, inc - test of controls, substantive test and analytical procedures during the audit plan, there are three important cycles that will be of focus for our team, they are sales and collection cycle, payroll and personnel cycle, and acquisition and payment cycle. Open document below is an essay on audit program design from anti essays, your source for research papers, essays, and term paper examples. Introducing the project audit methodology to the auditor understanding the audited object and learning about the audited project determining the audit goals - in accordance with recommendations in this.
Acc 546 week 6 individual assignment audit program design part iii acc 546 week 6 individual assignment audit program design part iii design tests of controls, substantive tests of transactions, and analytical procedures for the following apollo shoes cycles:inventory and warehousing cyclecash cycle. Free essays, research papers, term papers, and other writings on literature, science, history, politics, and more. Sample maintenance audit reportdocx your company name page 3 of 19 10 introduction this maintenance audit is a review of the maintenance management processes and practices at. A performance audit for a construction program will typically combine an in-depth review of expenditures with an analysis of compliance with applicable laws and. Audit program design part ii name course instructor date designing tests of controls, substantive tests of transactions and analytical procedures when designing tests of controls, substantive tests of transactions and analytical procedures it is necessary to first understand the business risks and internal control system (puncel, 2008.
The objective of this white paper is to offer specific considerations and suggestions for how the internal audit department can design a firm-wide aml risk. Audit program design part ii acc/546 may 2, 2011 audit program design part ii the audit of apollo shoes, inc requires a design of steps to develop audit objectives to plan the audit the financial statements are divided into cycles to better manage the audit and disperse to staff within the firm. Chapter 13 overall audit plan and audit program presentation outline application of audit testing selecting tests to perform design of the audit program a summary of the audit process i application of audit testing tests of controls testing for monetary misstatement reduction of risk audit assurance at different levels of internal control effectiveness simultaneous testing of controls and. Audit planning essay sample auditing planning and reporting are two critical stages in whole audit cycle audit planning is before beginning of field work and reporting is last stage in bank audit good planning leads to effective reporting.
The audit planning and completion documentation aid is used annually to document other steps required by auditing standards, not included in the audit programs sections include: materiality assessment and documentation, along with partner approval. Compliance audit handbook 5 the lead auditor should be fully knowledgeable of the audit scope and criteria, lead the site inspection, be the main point of contact between the auditee and dec, and ensure the. 1202 words - 5 pages audit design program iii tonya gaines acc 546 march 4, 2013 michael de marco audit design program iii during phase iii of the audit plan, anderson, olds & watershed (aow) will focus on two important cycles: inventory and warehousing cycle and the cash cycle there are six classes of transactions in the inventory and. Relative to the compliance program internal audit is responsible for auditing compliance roles and responsibilities - corporate compliance and internal.
Audit program design part ii essay audit program design part ii acc/546 january 31, 2011 at anderson, olds, and watershed, we have developed the following test of controls, substantive test of transactions, and analytical procedures for the audit of the sales and collection cycle, the payroll and personnel cycle, and the acquisition and payment. There is a difference between a project audit and financial audit as a project audit deals with the several components of the project and is very broad in scope and a financial audit reviews the control of the assets of the organization and has a limited scope. Information about whether the program is operating with fidelity to the program's design additionally, the how (or process evaluation), along with output and/or.