Find how the procedures use to audit expenditure department

Assignment Help Accounting Basics
Reference no: EM132718775

You are an internal auditor in a manufacturing company. You are asked to audit the expenditure department where there are various things that are believed to be cooperation between the employee and suppliers, poor market analysis, and the misappropriation of asset that happened (30 units have been stolen).

Problem 1: Explain how the procedures you will use to audit expenditure department?

Problem 2: How do you prevent the risk of fraud through 3 types of controls that you can choose?

Problem 3: Describe an example of one of the audit findings you can provide (OFI, Observation, Majority and Minority).

Reference no: EM132718775

Questions Cloud

Major part of the compensation package : Review a current compensation package and determine if it is adequate and fair given the tasks needed in the job.
Prepare journal entry to record transactions for brook co : Brook Company was organized at the beginning of current year. Prepare journal entries to record the transactions using the memorandum method.
Process of applying knowledge : Organizational learning is the process of applying knowledge from the past to the present-day work challenges.
AFE6014-B Empirical Methods in Accounting and Finance : AFE6014-B Empirical Methods in Accounting and Finance Assignment Help and Solution, University of Bradford - Assessment Writing Service
Find how the procedures use to audit expenditure department : How do you prevent the risk of fraud through 3 types of controls that you can choose? How the procedures you will use to audit expenditure department?
How internet aid and destroys the product from a hotel : How internet aid and destroys the product from a hotel? How internet aid and destroys the product from a site destination?
What are the dimensions of the matrix : If a matrix structure is used, what are the dimensions of the matrix?
Find how much is the depreciation for tonyo company : During 20x1, it sold assets with an original cost of ?100,000 (residual value of ?20,000) for ?80,000 and acquired ?60,000.How much is the depreciation in 20x8?
Find how much is the carrying amount of equipment on dec : Enter Sandman uses the straight-line method of depreciation and estimates. How much is the carrying amount of the equipment on December 31, 2009?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Advantage of international acquisitions

Which of the following is not an advantage of international acquisitions over the establishment of a new subsidiary?

  What is the purpose of reconciling the balance

Question - What is the purpose of reconciling the balance of the creditors control account with the total of the creditors list

  How much of the money will each partner receive

How much of this money will each partner receive if profits and losses are allocated to Adams, Baker, Carvil, and Dobbs on a 1:3:3:3 basis, respectively?

  Company total manufacturing costs

Winter Company incurred direct materials costs of $500,000 during the year. Manufacturing overhead applied was $150,000 and is applied at the rate of 75% of direct labor costs. Winter Company's total manufacturing costs for the year was:

  Provide the journal entry for the revaluation of equipment

Brandon Tarr invested $64,000 in the Garmon and Miller partnership for ownership equity of $64,000. Prior to the investment, equipment was revalued to a market value of $45,000 from a book value of $33,000.

  Which amounts will appear on the income statement

The company collected $4,170,000 in cash from customers during the year. Which amounts will appear on the income statement

  Prepare a graph as follows label the vertical axis

specialized consulting service companyu2019s after-tax net cash flows associated with two mutually exclusive projects

  How many shares of common stock are outstanding

Determine How many shares of common stock are outstanding? Edwards Enterprises reported the following information at December 31

  At the beginning of the current season on april 1 the

at the beginning of the current season on april 1 the ledger of flint hills pro shop showed cash 2660 inventory 3500

  What is happening to the cash account

As the full-time bookkeeper, your job is to make any corrections to the general ledger accounts. What is happening to the Cash account

  Calculate units purchased for august and september actuals

cash and production budget. p sells a single specialty product imported from denmark. sales for the six months ended

  Remaining basis in the partnership interest

How much gain or loss does Sam recognize; what is his basis in the property he received; and what is his remaining basis in the partnership interest?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd