(Internal Control Questionnaire-Purchases) Green, CPA, has been engaged to audit the financial statements of Star Manufacturing, Inc.,...
Question:
(Internal Control Questionnaire-Purchases) Green, CPA, has been engaged to audit the financial statements of Star Manufacturing, Inc., a medium-size entity that produces a wide variety of household goods. All acquisitions of materials are processed through the purchasing, receiving, accounts payable, and treasury functions.
Required
Prepare the purchases segment of the internal control questionnaire to be used in the evaluation of Star's internal control structure. Each question should elicit ei- ther a yes or no response. Do not prepare the receiving, accounts payable, or treas- ury segments of the internal control questionnaire. Do not discuss the internal controls over purchases. Use the following format:
Question Yes No
Step by Step Answer:
Auditing Concepts For A Changing Environment
ISBN: 9781284249286
5th Edition
Authors: Larry E. Rittenberg, Bradley J. Schwieger