Prepare an audit plan to conduct procedures

Assignment Help Financial Accounting
Reference no: EM133254137

As an external IT auditor, you have been asked to perform a review of the following: The Financial Transactions Application (FTA) is causing a problem with the General Ledger Application (GLA) due to the timing of the transfer of transactions. Data was transferred late by FTA causing end-of-the-month reports to be inaccurately stated. Managers met to review prior month's activity reports, and noticed a shortfall of $50,000 in some accounts. Prepare an audit plan to conduct procedures to address this type of situation

Reference no: EM133254137

Questions Cloud

Solar cell circuitry : In solar cell circuitry, what do we mean by open circuit voltage and short circuit current and With the aid of a diagram,
Define mass and volume and explain why ships or boats float : Define mass and volume. What happens to the egg when placed in the beaker of salt water? Explain why ships or boats float.
Calculate the annualized rate of interest on the loan : The bank offers to lend you the money at 11 percent annual interest for the 9 months the funds will be needed?(assume a? 360-day year).
What if the mass of the solid is not corrected for buoyancy : What mass of tris base (121.14 g/mol) is needed if 35 mL of 0.1M solution is titrated? This is the amount of tris that you will start with as a sample size
Prepare an audit plan to conduct procedures : As an external IT auditor, you have been asked to perform a review of the following: The Financial Transactions Application (FTA) is causing a problem with the
Thermal energy is conducted through thermopane window : How much thermal energy is conducted through a thermopane window in 8.00 hr if the window is 80.0 cm wide by 120 cm high,
What is her displacement : Sarah starts at x1 = 6 miles from the origin, walks along the x-axis to x2 = 10 mile, takes a rest, and finally walks to x3 = 2 miles. What is her displacement
Option to lease a new mitsubishi eclipse : Suppose that you have the option to lease a new Mitsubishi Eclipse, which you otherwise intend to buy. You must put $2000 down, and will make payments of $300 p
Discuss facebook acquisition of whatsapp : Discuss Facebook acquisition of Whatsapp, explicitly highlighting the Conclusion. How did the companies fare from the acquisition? Did it make sense?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Was the revenue earned in october or november

For eCatalog Services Was the revenue earned in October or November? What accounts should be debited and credited in October and November?

  Government and corporate bond fund

A pension fund manager is considering three mutual funds. The first is a stock fund, the second is a long-term government and corporate bond fund, and the third is a T-bill money market fund that yields a cure rate of 5.3%.

  Complete the payroll register showing gross pay

Complete the payroll register showing Gross Pay, Net pay, Total payroll liability if they are paid Total deductions = statutory deductions + voluntary deduction

  Find what is the price of the stock for pharsalus inc

Find What is the price of the stock for Pharsalus Inc? This dividend is expected to grow at a rate of 8.4 percent per year forever.

  Prepare a cash flow statement using the indirect method

Prepare a Cash Flow Statement using the indirect method and the most recent data is in the first column

  Price per unit-would produce positive contribution margin

Homestead jeans co. has an annual plant capacity of 65,000 units, and current production is 45,000 units. Monthly fixed costs are 54,000 and variable costs are $29 per unit. prepare a differential analysis on whether to reject or accept the dawkins o..

  Calculate how many bonds required

A company requires 1.5 billion for investment in a perpetual bonds, market yield is 8.5% per annum compounding semi-annually. Calculate how many bonds required

  Using the effective interest method

On 1/1/2014 the Jackson Co. has a $40,000 debt outstanding which matures on 12/31/16. Interest which is payable on Dec. 31 of each year, was last paid on 12/31/13. Using the effective interest method. how much interest expense is recognized on the de..

  Prepare an unadjusted trial balance for palisade creek co

Prepare an unadjusted trial balance. Journalize the adjusting entries. Record the adjusting entries of the journal. Prepare the closing entries. Record the closing entries on Page 23 of the journal.

  How much premium will a have to pay out to amy shareholder

Amy's new product offerings. In a competitive bidding contest, how much premium will A have to pay out to Amy's shareholders to win the bid?

  What is the yield on the debt

Lewis, Schultz and Nobel Development Corp. has an after-tax cost of debt of 4.5%. With a tax rate of 21%, what is the yield on the debt

  Prepare journal entries to close the accounts directly

Prepare journal entries to close the accounts directly to Retained Earnings. After these entries are posted, what is the ending balance in the Retained Earnings

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