Reference no: EM131046974
Project Part 1
You will need to demonstrate the required knowledge for providing information from and about records, including the identification and gathering of required records, the interpretation and administration of access rules and procedures, records preparation and delivery, the documentation requirements for the process and relevant legislation, Australia Standards and good corporate governance principles that pertain to recordkeeping management systems.
Describe the appropriate work processes/procedures for providing information from and about records, which include the following:
- Identify specific information or search criteria required by user
- Identify range of records likely to contain information required and ascertain their availability using appropriate finding aids and record systems
- Obtain range of records likely to contain information required by user, and analyse content
- Track records to record any change in location and use in accordance with business or record system rules and organisational procedures
- Explain to user any obstacles to obtaining specific records within specified time and agree a time frame for provision of records
- Identify person requesting record/s and confirm access category, in accordance with organisational procedures
- Apply access restriction rules and guidelines to record/s requested to match access category of requester
- Inform requester of their rights to review the decision where access restriction rules and guidelines prevent access
- Prepare requested information/ records in appropriate formats, and in accordance with organisational procedures and specified timelines
- Mask specific records, or portions thereof, in accordance with access rules and organisational procedures
- Document records retrieved and used to provide information, in accordance with business or records system operation and organisational procedures
- Record new locations provided to user in accordance with system rules and organisational procedures
- Deliver record or record information within specified time frames
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What are the two principal problems facing the auditor
: Outline the audit steps that you would take to enable you to render an unqualified opinion with respect to the inventory. (You may omit consideration of tests of unit prices and clerical accuracy.)
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The physical damage to the parked car
: Pablo traded in his 2000 Ford for a new Ford. One week later, he hit an oily spot in the road on his way to work and skidded into a parked car. The 2000 Ford was insured under the PAP with full coverage, including a $250 deductible for a collision..
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Identify the appropriate management assertion
: Explain the differences between management assertions, general audit objectives, and specific audit objectives, and their relationships to each other.
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Spent on shifting the stocks to new building
: After the construction of their new factory building M/s XYZ Co. shifted to it. During this process$ 20,000 were spent on pulling down the old structure and $ 2,000 were spent on shifting the stocks to new building. These expenditures are to be cl..
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Processes-procedures for providing informatio
: Describe the appropriate work processes/procedures for providing information from and about records, which include the following:
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Difference between tests of balances and transactions
: For tests of balances, what are the major account balances in the balance sheet need to be examined. Why are these tests important?
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The physical damage to the neighbor pickup
: Michael was driving a neighbor's pickup truck to get a load of firewood. A child darted out between two parked cars and ran into the street in front of the truck. In an unsuccessful attempt to avoid hitting the child, Michael lost control of the v..
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Amount of interest accrued on the closing date
: Consider the following- The investment portfolio of a business as on 31-12-2012 stood as follows-
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Discuss the financial statement assertions associated
: Valuation relates to product liability because a judgment (estimate) must be made regarding the expected cost of defective products.
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