Develop an audit plan for the Revenue Process by filling in all empty cells. This assignment must be typed using this template. If more than 1 page, must be stapled. Revenue Process Business Rules

Sale Orders only accepted from pre-approved customers.

Sale Orders that would push a customers AR balance over their Credit Limit should not be allowed.

Sale Orders use the items standard list price as the actual sale price.

Sale Orders must be entered by a Salesperson.

Shipments must be matched against an open Sale Order.

Quantity Shipped should equal Quantity Ordered.

Shipments must be entered by a Shipping Clerk.

Shipment Total Invoice Amount calculation:

Shipment Quantity Shipped * Matched Sale Order Actual Sale Price for each line item.

WCGW	Control Description	Financial Statement Impact	Type of Control (Prevent or Detect)	Type of Control (Automated or ITD)
Purchase Orders in system are not entered/approved by a Purchasing Agent.	Logical Access Control: Purchase Agents must login and only Purchase Agents have access to the Enter Purchase Order screen.	Overstated AP Overstated Inventory	Prevent	Automated
Item can be purchased from a vendor not approved to provide that specific item.	System restricts and only allows the purchasing of a specific item from specified vendors (Vendor-Parts List).	Overstated AP	Prevent	Automated
Goods received that were not ordered.	Receipt of Goods must specify an un-fulfilled Purchase Order to match against. Goods Receipt must be matched against an open purchase order in the system.	Overstated AP Overstated Inventory	Prevent	Automated
Goods Receipt records quantity received greater than quantity ordered.	Quantity received (counted) and recorded must be equal to or < than the quantity ordered on the matching PO. System rejects the receipt of goods if the quantities do not fit.	Overstated AP Overstated Inventory	Prevent	Automated

Failure to receive all goods ordered.	Weekly Goods Not Received report is run. Identifies POs not yet received against and past due. Someone in a role different than the role responsible for receiving goods should review; signs off on review and documents the results; follows up on any purchase orders past due with purchasing and/or vendors; and documents the corrective action taken.	Understated AP Understated Inventory	Detect	ITD
Invalid (unapproved) Vendors in system.	Vendor addition report run monthly. Identifies/lists all new Vendors added since end of previous month. Each vendor listed is validated against approval documentation. Someone in a role different than the role responsible for adding /approving vendors to the system should review; signs off on review and documents the results; follows up on any problem vendor; and documents the corrections.	Overstated AP	Detect	ITD

EMPLOYEE
Employee #	Employee Name	Salesperson Commission Rate		Employee Category
E-10	CAROL	10%		SALEPERSON
E-12	BOB	12%		SALEPERSON
E-13	LARRY			SHIPPINGCLERK
E-39	MOE			CASHIER
E-78	ALICE	15%		SALEPERSON
E-99	TED	10%		SALEPERSON
E-100	NED			EXECUTIVE

INVENTORY
Agleclap #	Description	Current Standard Sale Price	QOH
A-1	BIG- A	$2,500.00	10
A-2	DELUXE - A	$3,500.00	12
A-3	POCKET- A	$1,500.00	15
A-4	LITTLE - A	$700.00	100
A-5	MICRO- A	$4,000.00	20
A-6	FROZEN- A	$8,000.00	30

EMPLOYEE CATEGORY
Employee Category
CASHIER
EXECUTIVE
SALEPERSON
SHIPPINGCLERK

CUSTOMER
Customer #	Customer Name	A/R Amount	Credit Limit
C-1	BILL	8900	50,000
C-2	MICK	26000	60,000
C-3	KEITH	20000	50,000
C-4	CHARLIE	28000	50,000
C-5	RON	43900	20,000
C-6	ROGER	7500	20,000
C-7	JOHN	15000	20,000
C-8	SCOTT	0	20,000
C-9	EDDIE	0	20,000
C-10	PETER	0	30,000

Sales order
SO #	SO Date	Total Order Amount	Customer #	Salesperson Employee #
SO-1	July 7, 2017	$8900	C-1	E-12
SO-2	July 21, 2017	$10000	C-2	E-10
SO-3	July 22, 2017	$19500	C-5	E-10
SO-4	July 26, 2017	$16000	C-2	E-10
SO-5	July 31, 2017	$24400	C-5	E-10
SO-6	August 15, 2017	$20000	C-3	E-10
SO-7	August 21, 2017	$28000	C-4	E-99
SO-8	August 22, 2017	$7500	C-6	E-99
SO-9	August 22, 2017	$15000	C-8	E-12

Sales Order LINE ITEM
SO #	Agleclap #	Quantity Ordered	Actual Sale Price
SO-1	A-1	3	$2500
SO-1	A-4	2	$700
SO-2	A-6	2	$5,000
SO-3	A-1	1	$2500
SO-3	A-3	6	$1500
SO-3	A-5	2	$4000
SO-4	A-6	2	$8000
SO-5	A-2	2	$3500
SO-5	A-4	2	$700
SO-5	A-6	2	$8000
SO-6	A-2	10	$2000
SO-7	A-5	3	$4000
SO-7	A-6	2	$8000
SO-8	A-1	3	$2500
SO-9	A-2	2	$3500
SO-9	A-6	1	$8000

SHIPMENT LINE ITEM
Invoice #	Agleclap #	Quantity Shipped
INV-1	A-1	3
INV-1	A-4	2
INV-2	A-6	2
INV-3	A-1	10
INV-3	A-3	6
INV-3	A-5	2
INV-4	A-6	2
INV-5	A-2	2
INV-5	A-4	2
INV-5	A-6	2
INV-6	A-2	10
INV-7	A-5	3
INV-7	A-6	2
INV-8	A-1	3
INV-9	A-2	2
INV-9	A-6	1
Inv-50	A-6	5

SHIPMENT
Invoice #	SO #	Ship Date	Total Invoice Amount	Customer #	Shipment Clerk
INV-1	SO-1	July 7, 2017	$8900	C-1	E-13
INV-2	SO-2	July 21, 2017	$10000	C-2	E-13
INV-3	SO-3	July 22, 2017	$42000	C-5	E-13
INV-4	SO-4	July 26, 2017	$16000	C-2	E-13
INV-5	SO-5	July 31, 2017	$24400	C-5	E-13
INV-6	SO-6	August 15, 2017	$20000	C-3	E-13
INV-7	SO-7	August 21, 2017	$28000	C-4	E-13
INV-8	SO-8	August 22, 2017	$7500	C-6	E-13
INV-9	SO-9	August 22, 2017	$15000	C-8	E-13
INV-50	SO-30	August 22, 2017	$40000	C-10	E-100

Master Data Changes

Customer Credit Limit Updates for August 1, 2017

CUSTOMER
Customer #	Customer Name	Current Credit Limit	New Credit Limit
C-9	EDDIE	20,000	10,000

Inventory Standard Sale Price Updates for August 1, 2017

INVENTORY
Agleclap #	Current Standard Sale Price				New Standard Sale Price
A-6	$8,000.00				$10,000