Prepare an audit program to audit revenue

Reference no: EM132010720

Question: Using the case study Jim's Auto Body, prepare an audit program to audit revenue. You will use all of the relevant management assertions as the audit objectives, and you should include the following:

• Management assertions to be addressed (audit objectives)

• Internal control

• Test of controls

• Substantive test of transactions

Part 1 After the audit program has been drafted, identify the type of report that will be produced as a result of the audit of revenue, and develop the audit report.

Part 2 The American Institute of Certified Public Accountants (AICPA) professional standards provide uniform wording and format for the audit report.

The audit report should focus on the revenue cycle and Jim's Auto Body. Write a 1-page audit report for Jim's Auto Body that includes all seven parts of a standard audit report, as follows:

• Report title

• Audit report address

• Introductory paragraphs

• Scope paragraph

• Opinion paragraph

• Name of the Certified Public Accountant (CPA) firm

• Audit report date

Information related to above question is enclosed below:

Attachment:- AdditionalInformation.rar

Reference no: EM132010720

Questions Cloud

Compute alice maximum depreciation on the machine : The machine is classified as 5-year property. Alice's maximum depreciation (including bonus) on the machine this year is

Discuss a few kinds of bias : Discuss a few kinds of bias. Why do investigators need to be award of potential bias?

Prepare report for the strategic officers steering committee : ToolsCorp Corporation is a fictitious company located it in Tennessee. It builds power tools, lawn mowers, lawn furniture, microwaves, and ranges.

Level of significance and the p-value approach : Use the 0.05 level of significance and the p-value approach. Is there evidence that 25% of the students are middle aged?

Prepare an audit program to audit revenue : Using the case study Jim's Auto Body, prepare an audit program to audit revenue. You will use all of the relevant management assertions as the audit objectives.

What are the ramification of an investor electing not to use : What steps, tools, or guidelines, have you applied in your professional lives to assess the relationship between risk and reward?

How do you calculate oriole journal entry : Oriole Corporation issued 380 shares of $12 par value common stock for $6,840. How do you calculate Oriole's journal entry

What is the p-value : What is the p-value? What other assumptions are necessary?

Write a paper analyzing how you might use the five stages : Lululemon had a number of product issues and the CEO seemed to place the blame on customers rather than on the company.

User Account

All Pages