Required:

1. Perform a test of the separation of duties by comparing who entered and approved journal entries to see if all transactions maintained adequate separation of duties.

Ask the Question: Can pivottables be used to check separation of duties?

Master the Data: Apply the same steps as Lab 7-1 to the Lab 7-1 Alt Data.xlsx dataset.

Software needed

Excel

Screen capture tool (Windows: Snipping Tool; Mac: Cmd+Shift+4)

Data: Excel File Lab 7-1 Alt Data.xlsx.

Perform the Analysis: Refer to Lab 7-1 Alternate in the text for instructions and Lab 7-1 steps for each the of lab parts.

Share the Story: We can share the story by reporting our findings to the Internal Audit Department or potentially to the CFO (where appropriate) to see what interventions are needed (such as training or reassignment of duties). Separation of duties is a basic internal control that must be tested and maintained to ensure financial reporting and financial statements free of error.

1. A pivot table allows you to _____________:

multiple choice 1

change the underlying the database.

reorganize and summarize selected rows and columns.

2. According to the Pivot Table, who violated the separation of duties?

multiple choice 2

VR and AC

MW and DH

MW and AC

VR and DH

3. Using the pivot table to summarize, VR entered how many transactions that were also approved by AC?

multiple choice 3

22

14

30

19

4. Using the pivot table to summarize, who entered the most dollars (in total debits) of journal entries?

multiple choice 4

AC

VR

MW

DH

5. Using the pivot table to summarize, who entered the least or zero dollars (in total debits) of journal entries, that was an authorized approver?

multiple choice 5

DH

VR

MW

AC