Homework
Overview
Develop an audit plan from a business entity of your choice for the Revenue and Expense Cycles to evaluate management's internal control schema. Focus on using data analytics such as CAATTs, GAAS, and ACL software.
Task
Write 5 to 7 pages paper in which you:
1) Discuss three risks associated with the revenue and expense cycles focusing on online sales and payments.
2) Discuss four internal control considerations including the associated issues and risk mitigation strategies.
3) Recommend an optimal revenue and expense cycle to capture three types of online transactions, including documentation requirements. Provide a justification for your recommendation.
4) Develop an audit plan using CAATTs/GAAS and ACL tools to assess the internal control schema of the business entity.
Format your homework 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 homework, 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.