Assignment:
REQUIREMENTS
You are a member of a team involved in the audit of accounts payable for ABC Distribution Company. A computer-based accounts payable system is used by the company. You are provided with three data files (access using ACL105 Foundations project):
VENDOR Vendor Master File as at 31 December 2000.
AP_TRANS Vendor Transaction File for the year 2000.
You are to produce an audit memorandum to the partner-in-charge dealing with each of the following issues. You should support your findings with appropriately labelled and totalled reports generated with the ACL package.
You are to complete your audit memorandum in a Word document
You are to complete your findings for each of the objectives in htm files
Report headers should identify the client, the year-end, your name and the title of the report. Present your reports and extracts from logs in the appendices accompanying your memorandum.
Audit Objectives
1. Produce a vendor invoice report showing the vendor number, vendor name, invoice number, invoice date and invoice amount for each accounts payable transaction. Sort this report by invoice number within vendor and subtotal this report by vendor.
2. Produce a report showing the details of vendors with no transactions.
3. Produce a report showing any duplicate vendor records. Also, search for duplicate transactions, e.g. with the same vendor number, date, amount, product, etc.
4. Prepare a vendor purchases summary, showing the percentage for each vendor (in descending order) of total purchases. Which vendors are the top 4?
5. Stratify invoice amounts. Identify the larger transactions.
Discuss the relevance of objectives 1-6 to detecting accounts payable fraud.