Create and discuss an original example of an internal control that could prevent this type of activity. Be sure to discuss the management assertion (Occurrence, Completeness, Authorization, Accuracy, Cutoff, and Classification) put forth, the possible misstatement, the transaction affected and the documents or records necessary for the control to work. Please see the Unit 1 video Lecture - Part 2 for an example of how to do this.

Createanddiscussanoriginalexampleofatestofcontrolthatanauditorcouldusetoverifythattheabovecontrolwasfunctioningproperly.Besuretodiscussthemethodoftestingthattheauditorwilluse(Inquiry,Observation,Sampling,etc.)Consignmentsales.Revenueswererecordedforconsignmentshipmentsorshipmentsofgoodsforcustomerstoconsideronatrialbasis.only needs to be two paragraphs. over consignment