Reference no: EM132745517

Question: You are conducting an audit of sales for Sunbeam Computer a retail chain store with an integrated IT system in which computerised cash registers are integrated directly with accounts receivable, sales, perpetual inventory records and sales commission expense. At the time of sale, the sales clerks key-enter the following information directly into the cash register:

• store code number

• sales clerk number

• date of sale

• cash sale or credit sale

• customer account number for all credit sales

• product number

quantity sold

• unit selling price.

The total amount of the sale, including GST, is automatically calculated by the IT system and indicated on the cash register's visual display unit. The only printed information for cash sales is the cash register receipt, which is given to the customer. For credit sales, a credit slip is prepared, one copy is retained by the clerk, and these are submitted daily to the accounting department. A summary of sales is printed out daily in the accounting department. The summary includes daily and monthly totals by sales clerks for each store, as well as totals for each of the 95 categories of inventory by store. Perpetual inventory and accounts receivable records are updated daily, but supporting records are limited primarily to machine-readable records.

Required: List seven tests that could be conducted using generalised audit software.