Create and discuss an original example of an internal control that could prevent this type of activity. Be sure to discuss the management assertion (Occurrence, Completeness, Authorization, Accuracy, Cutoff, and Classification) put forth, the possible misstatement, the transaction affected and the documents or records necessary for the control to work. Please see the Unit 1 video Lecture - Part 2 for an example of how to do this.
Create and discuss an original example of a test of control that an auditor could use to verify that the above control was functioning properly. Be sure to discuss the method of testing that the auditor will use (Inquiry, Observation, Sampling, etc.) Consignment sales. Revenues were recorded for consignment shipments or shipments of goods for customers to consider on a trial basis.only needs to be two paragraphs. over consignment