Using Tableau, answer the "Audit work steps" $1-3.$

Part IV:

Background:

It is now February $6,2017,$ and you are ready to begin the year$-$end audit procedures for the $2016$ audit.

The client has provided the $2016$ data that you requested

$($Analytics$\_$mindset$\_$case$\_$studies$\_$Techwear$\_$P$4.$xls$)$ so you can begin your work. Procedures have

already been performed by your team to ensure that the data you received is complete and accurate.

The data file includes data on two tabs $2016$ AR data and $2016$ inventory relief data.

$2016$ AR data tab

The data fields are the same as what you received for $2015,$ with the exclusion of the ship date.

Additionally, the $$Type$$ field includes transaction information for the opening balance $($Opening Balance$),$

which reconciles with the $2015$ ending balance of $$684,491\mathrm{.}19$ and the unapplied cash receipts

$($Unapplied Receipts$).$

$2016$ inventory relief data tab

This data includes the following fields:

$$ ShipNum: this is the shipping number. This number becomes the sales transaction number when the

invoice is created, which is the transaction number field on the $2016$ AR data tab.

$$ FedExID: this is the FedEx identification number. All items shipped on a given day will have the same

number.

$$ CustNum: this is a unique customer number to identify the customer $($same field that is on the $2016$

AR data tab$).$

$$ CustName: this is the customer name $($same field that is on the $2016$ AR data tab$).$

$$ InvoiceDate: this is the date the sale was invoiced $($billed$)($same field that is on the $2016$ AR data

tab$).$

$$ ShipDate: this is the date the goods were shipped.

$$ InvCostReliefAmount: this is the inventory cost relief amount, or the cost of sales.

The December $31,2016,$ working trial balance shows the following:

Accounts receivable $$18,114,802\mathrm{.}50($no allowances have been recorded$)$

Sales $$37,333,890\mathrm{.}86$

Cost of sales $$14,269,387\mathrm{.}17$

Analytics mindset case studies $$ TechWear $2$

Required:

$$ You have been asked to perform each of the following select work steps that are based on the

auditing procedures documented in the audit data analysis template from Part III. Perform your

analysis in Tableau.

$$ As you perform each work step, document your findings in detail and propose any audit adjustment

using the summary of auditing findings document on the following page. On this document, add or

remove $$audit findings$$ rows as needed based on your work. Before you perform the next work step,

make certain to remove the corresponding data from your analysis so you can gain the best insights

from the work step.

$$ Prepare a brief, one$-$page summary of your overall findings for discussion with the audit committee

that includes your summary table and any relevant visualizations.

Audit work steps

$1.$ Verify that every sales transaction has a shipping number and FedEx identification number. Identify

and quantify any sales that have not been shipped $($including names of customers and transaction

numbers$).$ Propose any necessary audit adjustment.

$2.$ Verify that every shipping number has a recorded sales transaction. Identify and quantify the cost of

sales for products shipped without a sale being recorded $($including names of customers and

transaction numbers$).$ Propose any necessary audit adjustment.

$3.$ Identify shipments that occurred in $2017$ for $2016$ sales. Identify and quantify any sales and the cost

of sales for amounts recorded in the improper period $($including names of customers and transaction

numbers$).$ Propose any necessary audit adjustment