Question:auditing

Technical Aspects This is a group task. Flowcharts can be created in Microsoft Word or another application. Microsoft PowerPoint or a similar application is needed to create the presentation. The presentation must be delivered in class during a time communicated by the lecturer. The presentation must not exceed 15 minutes. Marking Criteria Please see Section C for the marking rubric. Instructions 1. Explore the accounting information system and internal controls of a company of your choice. 2. Choose one of the following business processes to report on: - The Revenue and Receipts (Sales and collection). - The Purchases and Payments (Acquisitions and Payments) cycle. 3. Provide an illustration of the cycle by means of a flowchart. 4. Give an overview of the following: - The name and description of the company and industry. - The products/services offered. - The procedures and sources of information you used to obtain an understanding of the accounting information system and internal controls of the company. - The various functions/activities within the cycle. - Documents used in the cycle. - Control procedures/activities. - Control weaknesses. - Risks of fraud and error. (80 Marks)