Case Study

Scenario:

You have recently graduated from Grand View University with your Bachelor$$s Degree and have landed a job with one of the government.

Your Audit Manager send you an email stating that your client of the past two years at a local school audit is coming up$.$ Your manager calls you stating that they would not be attending the meeting because of food poisoning. You now must attend the meeting yourself and report back the following day.

You also found out that due to COVID$19,$ the Government has shut down travel and the meeting is via Zoom.

Additional Information:

$$ Equity: $$3,500,000$

$$ Liabilities: $$3,000,000$

$$ Assets: $$6,500,000$

$$ School Board Meetings every month

$$ Booster Club

$$ School size $($K$-12)$: $1,200$

Instructions:

This activity requires understanding of the audit process, internal controls, financial report questions, and more.

Building upon on this understanding, students are required to apply concepts studied throughout the course in creation of hypothetical scenarios especially in evaluating professional and enterprise practice in relation to culture and diversity.

Auditors need ability to think critically and creatively, have strong communication skills, emotional intelligence, professional skepticism, and more. This assignment is to help build these fundamental characteristics.

Assignment: Prepare professional memo

Headings are:

$$ Memo Title: be specific

$$ Date Line

$$ To$/$From Line

$$ Subject Matter Line

$$ Purpose paragraph

$$ List of internal control questions

$$ Conclusion paragraph

$$ Appreciation paragraph

Your Signature