Audit Program Part Iii

Audit political platform Design Part ternion Audit Program Design Part III display To continue the inspect design for Apollo Shoes, Inc., we bequeath pyramid upon the realized tests of controls, substantive tests of transactions, and revaluations of uninflected procedures for the sales and assembly rung, payroll and violence cycle, and achievement and payment cycle. Moving forward, we go forth straight conduct the same types of tests and reviews for the archive and w atomic number 18housing cycle, and the interchange cycle. Upon the extent of the tests, we go away provide a detailed review. get into and Warehousing Cycle The objective of auditing the inventory and warehousing cycle is to baffle that raw materials, work-in-process, finished goods inventory, and monetary value of goods sold are state fairly in accordance with generally original accounting system principles. We allow accomplish this using the aforesaid(prenominal) tests of control s, substantive test, analytical procedures, and tests of details (Arens, Elder, & Beasley, 2006). The audit of inventory and warehousing is divide into five parts, for which we have outlined our audit procedures below. 1.

Acquiring and save Raw Materials, Labor and Overhead: Apollo Shoes, Inc has non manufactured their testify shoes up to this point; at that placefore, there are no true raw materials, just the promote and overhead. Therefore, the substantive accord of this part of the audit is processing the arrive clubs. However, because tests on purchase orders were already completed throug h the acquisition and payment cycle, we will! not need to re-test them in this cycle. 2. Transferring assets and cost: We will review your process of internal transfers, specifically scrutiny the cost accounting records. 3. Shipping goods and recording revenue and cost: Because recordation of shipments and related costs is part of the sales and collection cycle, we will not be conducting any reviews or tests for it in this set of auditing. 4. Physically observe...If you privation to get a full essay, order it on our website: OrderCustomPaper.com

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