Primary Discussion Response
Primary Task Response: Within the Discussion Board area, write 300-400 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.
Knowing that the Bovar Company's audit will include the inventory cycle, you want to plan for the audit by setting the audit objectives. For this assignment, you will write and submit a document of 300-400 words that sets specific audit objectives that will be followed during the audit to meet each of the following management assertions:
•Existence
•Completeness
•Accuracy or Valuation
•Rights and Obligations
•Presentation and Disclosure
Present these objectives to the members of your team for their feedback by attaching the document to the Discussion Board.
Responses to Other Students: Respond to at least 2 of your fellow classmates with at least a 100-word reply about their Primary Task Response regarding items you found to be compelling and enlightening. To help you with your discussion, please consider the following questions:
•What did you learn from your classmate's posting?
•What additional questions do you have after reading the posting?
•What clarification do you need regarding the posting?
•What differences or similarities do you see between your posting and other classmates' postings?
•Use accounting information to measure and evaluate performance.