Audit

When conducting an analyse, one must go against a concrete accord of a contrast and the type of environment the business operates in. The attendee must examine all the elements that make up the business and that also must include an perceptiveness of the companys internal check outs. Once the listener has a genuine understanding of the business; the attendant will establish material information, and occasion a series of procedures for the audit. In the instance of Apollo Shoes, an audit was conducted on the pecuniary reports, the sales and collection roll, and the payroll and personnel cycle. The last-place step of an audit radiation pattern program would be to audit Apollo Shoes inventory and warehousing cycle and the hard cash cycle.
The auditor must cultivate a strategy, in order to develop the necessary information for the audit. The audit plan must be designed so that run a risk will be trim back to an appropriate level for the inventory and warehousing cycle and cash cycle. The procedures of the audit must include the testing of internal controls, indispensable tests of transactions, and analytical procedures with supporting evidence. Overall, the audit will allow the auditor to understand the internal controls over the inventory and warehousing cycle and cash cycle.



The auditor will develop an assessment of the control risk for these two cycles; determine the extent of testing controls of the financial statements and create tests of controls and substantive tests to accomplish the goal of the audit. Ultimately, the audit design program will enable the auditor to create a series of tests that will help understand Apollo Shoes inventory and warehousing cycle and cash cycle, to eliminate risk and formulate an opinion.
Inventory and Warehousing Cycle Test of Controls
The briny reason for auditing the inventory and warehousing cycle is to determine that the material, execution that is in progress, finished goods that remain in inventory, and goods that are change are accurately stated in...If you want to get a full essay, order it on our website: Orderessay



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