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2,12,39,5,etc. are the given time to each 4. PERT NETWORK. All audits have a critical path, but auditors seldom recognize it as such without the
2,12,39,5,etc. are the given time to each
4. PERT NETWORK. All audits have a critical path, but auditors seldom recognize it as such without the aid of network analysis. In the auditing of liabilities, the following activities and estimated times have been identified: 0-1 Obtain schedule of liabilities 2 1-2 Mail confirmations 12 2-6 Process confirmations 39 6-7 Investigate debit balances 5 1-3 Vouch selected liabilities 64 3-4 Test accruals and amortization 4 1-4 Test pension plan 4. 4-5 Reconcile interest expense to debt 8 5-7 Verify debt restriction compliance 5 7-8 Review subsequent payments 10 REQUIRED: a. The PERT Network, identifying the critical path and including slack timesStep by Step Solution
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