Problem 1. Giving value to clients is absolutely essential to especially auditors. Your client, a public company in the jewelry business, is looking to you as their consultant, for suggestions to improve their profit.
Problem 2. Inventory Procedures Using Computer-Assisted Audit Tools and Techniques :
In your discussion
- Explain the process and benefits of audit sampling.
- Assess risks inherent to selected transaction cycles.
- Put the tests of controls and tests of balances in audit program format.
- Set up a working paper for each listed audit test, explaining how to perform the test and what type of evidence will be used.