Assignment substantive procedures for cash outflow irregularities resource: apollo shoes casebook outline substantive procedures by using the apollo shoes casebook for detecting irregularities in. Search results for 'design tests of controls substantive tests of transactions and analytical procedures for the following apollo shoes cycles. The audit to ensure that all exposures are identified a 31 ascertain which version(s) of the operating system are running on the servers included in the scope of the audit. Resource: apollo shoe case link in week three on the materials page review the planning section with emphasis on the workpaper indexing, trial balances, and apollo shoes minutes and the accounts receivable section with emphasis on the audit of accounts receivable – confirmations.
A lead schedule is the first sheet in a section of an accounts or audit file a document that serves as a summary or index of information contained in specific accounting schedules, balances sheets, or reports. Resource: apollo shoes casebook outline substantive procedures by using the apollo shoes casebook for detecting irregularities in each of the following audit cycles: cash accounts payable payroll design an audit program for the cycle in no more than 1,050 words. For more classes visits wwwsnaptutorialcom design tests of controls, substantive tests of transactions, and analytical procedures for the following apollo shoes cycles: inventory and warehousing cycle cash cycle.
View homework help - audit of cash from acct 30163 at texas christian university apollo shoes bank reconciliation 12/31/2014 general account (10200) unadjusted book balance bank adjustments amount. To form the basis of an opinion on the fairness of the financial statements, the third generally accepted fieldwork standard requires the gathering of sufficient competent evidential matter substantive tests are the procedures by which auditors gather this evidential matter although the nature, extent, and timing of substantive tests is a matter of professional judgment, [. The primary audit procedure used in testing cash balances is confirmation in order to test confirmation, auditors ask the company's bankers to verify the balance of the bank accounts directly.
Before the auditor can begin the process of conducting the audit of the inventory and warehousing cash cycles, the auditor must prepare the audit plan and program for apollo shoes developing the audit strategy and plan aids the auditor in determining the necessary resources to perform the engagement. Audit report and audit program design cash cycle capital acquisition cash cycle the audit of the cash cycle is designed to ensure existence, completeness, accuracy, classification, timing and summarization. At apollo shoes irregularities or cash schemes, which could occur in the audit cycle of cash include fraudulent disbursement schemes and cash receipt schemes fraudulent disbursement schemes are those in which a distribution of funds is made from some company account in what appears to be a normal manner. Apollo shoes would like you to prepare a letter explaining how you plan to begin the audit process include with your letter the following documents for the management at apollo shoes ngagement checklist ngagement letter outline of timeframes and milestones for the audit. Acc 492 week 2 learning team assignment apollo shoe case assignment resource: apollo shoe case link in week three on the materials page review the planning section with emphasis on the workpaper indexing, trial balances, and apollo shoes minutes and the accounts receivable section with emphasis on the audit of accounts receivable – confirmations.
Apollo shoes, inc is an audit case designed to introduce you to the entire audit process, from planning the engagement to drafting the final report you are asked to assume the role of a veteran of two-to-three. B cash management: cash is the most important part of the business and almost all frauds are done to steal cash either at the time of depositing money or paying money apollo shoes is satisfied with the services your firm offers and wants to continue with the audit apollo shoes would like you to prepare a apollo shoes case assignment. I have excerpted from our workpapers a description of apollo’s accounting and control systems over the revenue/collection cycle and purchasing/cash disbursements i’ve also gave a copy of a flowchart of sales transaction processing to darlene. Inventory and warehousing cycle due to the size of the balances and the complexity of the transactions involved in the inventory cycle, this is one of the most difficult and time-consuming parts of the audit process.
You are on the audit team of apollo shoes, inc for the year ending december 31, 2015 and your manager has asked you to complete the audit of cash using the following items: audit plan bank reconciliation prepared by client outstanding check list prepared by client. Revenue recognition audit procedures by osmond vitez - updated september 26, 2017 revenue recognition is an accounting concept that dictates how a company records sales transactions. The audit report will be sent to apollo shoes cash cycle description of other types of assurance and non-assurance services offered by accounting professionals prepared by a verified expert accounting basics: description of other types of assurance and non-assurance reference no:- tgs01191970.
At apollo shoes irregularities or cash schemes, which could occur in the audit cycle of cash include fraudulentshow more content another substantive procedure to be employed in trying to uncover irregularities is the use of substantive analytical procedures over the completeness of expenses. Audit program design: cash cycle at apollo shoes main auditing procedures will be to test the a/r is an important part of the testing procedures and for the tests of controls, substantive tests of transactions. Page 3 introduction apollo shoes, inc is an audit case designed to introduce you to the entire audit process, from planning the engagement to drafting the final report you are asked to assume the role of a veteran of two-to-three “busy” seasons, “in-charging” for the first time. The two main elements of the cash cycle are accounts receivable and accounts payable - cash coming in and cash going out both departments (a/r and a/p) at apollo shoes need to be separated and they should be highly structured to prevent any potential fraud or other misstatements.