Assignment: Analytics mindset
P-card
Part I:
Background
You work as an internal auditor for Oklahoma State University (OSU). You were asked to perform an audit of the purchasing cards (P-cards) that are used on campus. P-cards are a business credit card that some employees are permitted to use to purchase necessary goods and services. If employees agree to certain rules, they can then use a P-card to make appropriate business purchases rather than using their own credit card. This allows the employee to avoid spending personal funds and seeking reimbursement. It also provides the business with greater control because the business can institute internal controls to limit types of purchases and avoid inefficient and fraudulent transactions. Organizations also can track spending using detailed P-card records provided by the credit card companies.
You have been assigned the task of auditing all of OSU's P-card transactions. To perform this audit, you received a file of all P-card transactions for the entire state of Oklahoma (the state collects all transactions for state and higher education institutions).
The purpose of this case is to help develop your analytical mindset. An analytics mindset is the ability to:
o Ask the right questions
o Extract, transform and load (ETL) relevant data
o Apply appropriate data analytics techniques
o Interpret and share the results with stakeholders
For this case, you will perform the following task
Task 5 - Perform a test of various P-card internal controls.
* Adapted from original case
Analytics mindset
P-card
Part V:
Task 5
One of the key objectives of your internal audit is to determine if employees of OSU are following internal controls.
Required
o Using the data provided, perform the tests listed below to analyze whether there are potential internal control violations. Use the following matrix to guide your analysis. The matrix is set up as follows:
- The first column lists the internal control that should be operating.
- The second column identifies the test you should perform to evaluate the control.
- The third column lists how you should name the query or file with your results so your instructor can review your work (if you use multiple queries, use the query that contains your final results).
o Note that, although something is flagged as a potential internal control violation, it does not mean there has been a violation. There may be acceptable reasons for internal control deviations. The goal of this assignment is to identify higher-risk transactions, employees and vendors that should be targeted for additional testing.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.
Attachment:- Case-Template.rar