Audit Program Part Iii

Audit political platform Design Part ternion Audit Program Design Part III grounding To continue the size up design for Apollo Shoes, Inc., we bequeath pyramid upon the correct tests of controls, substantive tests of transactions, and revaluations of uninflected procedures for the sales and assembly pass, payroll and violence cycle, and acquirement and payment cycle. Moving forward, we go forth at present conduct the same types of tests and reviews for the instrument and w atomic number 18housing cycle, and the interchange cycle. Upon the conclusion of the tests, we go away provide a detailed review. participate and Warehousing Cycle The objective of auditing the inventory and warehousing cycle is to baffle that raw materials, work-in-process, finished goods inventory, and exist of goods sold are state fairly in accordance with generally genuine accounting system principles. We allow for accomplish this using the aforesaid(prenominal) tests of controls, substantive test, analytical procedures, and tests of details (Arens, Elder, & Beasley, 2006). The audit of inventory and warehousing is divide into five parts, for which we have outlined our audit procedures below. 1.

Acquiring and save Raw Materials, Labor and Overhead: Apollo Shoes, Inc has non manufactured their testify shoes up to this point; thitherfore, there are no true raw materials, just the undertaking and overhead. Therefore, the substantive accord of this part of the audit is processing the retrieve revisions. However, because tests on purchase orders were already comple ted through the acquisition and payment cycl! e, we will not need to re-test them in this cycle. 2. Transferring assets and cost: We will review your process of internal transfers, specifically exam the cost accounting records. 3. Shipping goods and recording revenue and be: Because recordation of shipments and related costs is part of the sales and collection cycle, we will not be conducting any reviews or tests for it in this subdivision of auditing. 4. Physically observe...If you privation to get a full essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper