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How to identify the transaction under Concealed Cost of Goods Sold Fictitious Revenue Improper Asset Valuation using Mind bridge ? and what does an Audit
How to identify the transaction under
- Concealed Cost of Goods Sold
- Fictitious Revenue
- Improper Asset Valuation using Mind bridge ?
and what does an Audit plan contain ?
You are a financial auditor and work on the ABC Building Ltd account. The Audit Partner is suspecting that the CEO (Lilian Giles) have used financial statement fraud techniques to inflate net income and get higher bonuses. The Partner is suspecting the following fraud schemes having been applied to inflate net income: Concealed Cost of Goods Sold . Fictitious Revenue Improper Asset Valuation The General Journal You are provided with two years of general journal data. The data file APE 2 Dataset can be downloaded from UWS. The total balance of the two years of data is around $44.6 million. The financial year start date is 1 June. Download the data file to your computer. Please note that the materiality for the engagement is $100,000 (reduce the weightings for the material value control point to 5% in the MindBridge tool). It is also important to note that bookkeeping is regularly done on weekends. Your task Analyze the general journal using the MindBridge Ai Auditor tool specifically addressing the above mentioned fraud schemes. Identify no more than 25 transactions using the various investigative features in MindBridge's. Ai Auditor (risk-buckets, risk by months risk-burst, filter builder). Create 'tasks' for these transactions and export them from the Audit Plan section. You are a financial auditor and work on the ABC Building Ltd account. The Audit Partner is suspecting that the CEO (Lilian Giles) have used financial statement fraud techniques to inflate net income and get higher bonuses. The Partner is suspecting the following fraud schemes having been applied to inflate net income: Concealed Cost of Goods Sold . Fictitious Revenue Improper Asset Valuation The General Journal You are provided with two years of general journal data. The data file APE 2 Dataset can be downloaded from UWS. The total balance of the two years of data is around $44.6 million. The financial year start date is 1 June. Download the data file to your computer. Please note that the materiality for the engagement is $100,000 (reduce the weightings for the material value control point to 5% in the MindBridge tool). It is also important to note that bookkeeping is regularly done on weekends. Your task Analyze the general journal using the MindBridge Ai Auditor tool specifically addressing the above mentioned fraud schemes. Identify no more than 25 transactions using the various investigative features in MindBridge's. Ai Auditor (risk-buckets, risk by months risk-burst, filter builder). Create 'tasks' for these transactions and export them from the Audit PlanStep by Step Solution
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