Reference no: EM132969462

The question is based on Bradmark Case located in the "Bradmark Case Description" folder and complete the following tasks:

• From the case description and the associated flowcharts, assess Bradmark's internal controls over its revenue cycle procedures.
• Using the case description, the flowchart, the file structures, and the selected financial data below specify an audit objective (that can be achieved using ACL) for each management assertion presented in the matrix below. For each audit objective, briefly describe the ACL test procedure. As an example, the first row in the matrix has been completed for you.

Selected Bradmark Financial Data

Sales 5,379,996.96

Accounts Receivable  4,752,257.70

Allowance for Doubtful Accounts (.02 x Sales) 107,600

Net Accounts Receivable  4,644,657.70

Problem 1. Perform the ACL tests outlined in step 2 above. Hand in a report describing the audit tests and your conclusions about the results of the test. To document your findings include in your report ACL printouts showing details of test results and the command log.

Problem 2. Using the matrix format below, identify an operational (business) concern related to the revenue procedures. Briefly describe the audit objective and ACL procedures to answer this concern. Perform the ACL test and prepare a report with your conclusions. Document your report with ACL printouts showing details of test results and the command log.