Solution-What information does smith llp need to obtain

What information does smith llp need to obtain about the edp

Assignment Help Auditing

Reference no: EM131805027

Problem: Audit planning in anEDPenvironment

Farm Fresh Foods Inc. (FFF) is a new food distribution company that has been profitable since the second month of operations. It has arranged with Smith LLP, a certified general accounting firm, to conduct an external audit of its first year of operations. FFF has a large electronic data processing (EDP) installation with six EDP employees, including the EDP manager, a former accountant who is taking courses to upgrade her skills in computer operations and programming. Mary Heston of Smith LLP is in charge of designing an audit plan for the EDP function, and Ahmed Khan is auditing receivables, purchases, and payroll.

Required

What information does Smith LLP need to obtain about the EDP function when developing its audit plan for FFF? State six examples.

Reference no: EM131805027

Questions Cloud

How many containers of regular and zesty : If each container of Regular is sold for $1.95 and each container of Zesty is sold for $2.20, how many containers of Regular and Zesty

Discuss the target and calculates the contract price : the target and calculates the contract price based on the expected value of future payments to be received

Review case of summer resort community : Cod Bay is a summer resort community. Its winter population of 19,000 expands to 60,000 in the summer and the Cod Bay Police Department has problems.

The problem-the case of the clever bid : You have been invited to put a bid in to supply engineered products for a major governmental project. The contract has two components:

What information does smith llp need to obtain about the edp : What information does Smith LLP need to obtain about the EDP function when developing its audit plan for FFF? State six examples.

Define medicalization and offer an important commentary : The purpose of this assignment is to define medicalization and offer an important commentary about the spread of this social trend in society today.

What is the direct materials price variance : The company actually used 4,500 pounds that cost $5.10 per pound to produce 2,000 units. What is the direct materials price variance

Discuss the debit increase or decrease that account : do debits impact assets and if so, does the debit increase or decrease that account

Compute the cash payback period and annual rate of return : Compute (1) the cash payback period and (2) the annual rate of return on the proposed capital expenditure

User Account

All Pages

What information does smith llp need to obtain about the edp

Reference no: EM131805027

Reference no: EM131805027

Questions Cloud

Reviews

Write a Review

Auditing Questions & Answers

Internal audit

Accounting professional and ethical standards

Prepare swag''s consolidated balance sheet

Auditing and assurance

State of the company’s industry and associated risk factors

Prepare a memo to the audit partner

Adjusting or non- adjusting events

Audit financial data

Identify principal audit risk

Auditing and assurance

National health reform

Prepare a memo on the state of the company''s industry

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT