Question
Please solve the audit data anayltics section Assertion ACCOUtttG Existence Corrleteness Wuation and alboca#on Auditing oWtives Amol-mts reported Ehe statemenE represent valid receivables. Amounts reported
Please solve the audit data anayltics section
Assertion ACCOUtttG Existence Corrleteness Wuation and alboca#on Auditing oWtives Amol-mts reported Ehe statemenE represent valid receivables. Amounts reported .h the fi3anciI statemen{s are complete and are calculated and acctnukted property. Receivables are reported the financial Statements at the What could go wrong? order is a receivable is recorded without any product being shipped. A product iS shipped witout receivable being recorded. Reb-rns are not properly recorded. Mitigathg controls Debits to accounts receivable are only generated from the ortit entw system. A shipping number and FedEx Wentifieation number are entered into the system as evidence Of order fulfillment are investigated. The order entry system ensures that all automatically generate a receivable once the product is shipped. A shipping nn-mber, FedEx identification number date are entered into Ehe system AS evidence of order fulfillment and discrepancies are investigated- There is a potential control deficiency beeause or inadequate controls over the estimation process. Audit data analytics requitements Sales Ammjnts Customer Names Transaction Dates General Ledger Subsequent Write off amounts and retums Slipping Numbers FedEx ID numbers Customet Names Transaction Dates General Ledger Amounts Cash Receipt Amount Transaction, Dates Transaction Mm%ers Shipping Numbers FedEx ID numbers Subsequent write-off amounts and returns Sales Amounts Cash Receipt Amount Customet names fitansaction Dates
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