SVIT control syste, module 2 notesFull description
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Full professional sales training - Effective sales techniquesFull description
basic
Sales Commission
The Objective of this study is to address the critical need for automation in the domestic food processing sector and to study its impact. This study investigates the challenges arising out due to the dependency of the modern human for processing of
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CASE DIGEST FOR ADMINISTRATIVE LAW; Exhaustion of Administrative RemediesFull description
Descrição: Sales Order Processing With Customer Down Payment Business Process Procedure
UNA ACTIVIDAD DEL COSO 3
Biltrite Bicycles Inc. – Module III
Control Testing – Sales Processing
Based on the deficiencies in the design of controls identified in the sales processing subset of the revenue cycle, does the above sampling plan test address all relevant financial statement assertions to sale and accounts receivable? If not, which assertion(s) are not considered in the initial plan, and how could the plan be adjusted to address these assertions?
No, the sampling plan does not address all relevant financial statement assertions to sale and account receivable. The plan should be adjusted so that we also select a sample of shipping documents and trace them through the recording process to determine that they were included in the sales account, which tests completeness.
On spreadsheet.
What conclusions can you draw based on your completed sampling plan worksheet? What impact might your findings have on the substantive audit programs for Biltrite? Based on the results of your testing, should the aggregate materiality threshold be changed for any part of the revenue cycle?
The testing of attribute 1- Bill of laden attached and signed by carrier, gave us a result of the upper deviation limit exceeded the tolerable deviation limit meaning that controls are not working effectively. Because we found that controls are not operating effectively, we will choose to rely less on substantive analytical procedures and more on the tests of details for the accounts related to the control failure.
Based on AU 312.38 and 312.41, the aggregate materiality threshold should not change based on the results of the testing, however, if the aggregate of the misstatements approaches the materiality threshold, the auditor should reconsider the nature and extent of further audit procedures.
