You are an auditor at a prestigious CPA firm.After several years of hard work, your boss informs you that you will be in charge of this year's audit of the firm's most important client, Bullseye, a general merchandise retailer with hundreds of stores throughout the United States.Bullseye is a publicly traded company with its corporate headquarters in Minneapolis, MN.It does not have any foreign operations.Local managers take care of all hiring/personnel issues but payroll is administered through corporate headquarters.Similarly, store managers order store supplies and inventory on account through approved suppliers who send the bill to corporate headquarters where it is paid and allocated to the appropriate store.Cash from sales is deposited on a daily basis into local branches of a national bank chain that handles all banking needs for Bullseye. and store managers have authority to withdraw cash to meet the daily business needs of their store.Each store has a bookkeeper on staff who records all transactions.Naturally, Bullseye relies heavily on technology to manage inventory, payroll, record keeping, and other financial issues at the store and corporate levels.They have an integrated system where information recorded at the store level is transmitted to corporate headquarters and entered into the appropriate accounts.Bullseye has been in generally good financial health for several years and there are no concerns about its ability to remain a going concern.All previous audits have only found minor problems that were the result of human error, such as transposing numbers or entering amounts into the wrong account, and these errors were easily corrected.

Your supervisor informs you that you will have a team of four other accountants, including an IT professional to assist on the audit.The individual will be flying to Minneapolis next month to conduct the audit at Bullseye corporate headquarters.While the boss assures the individual that will have a sufficient budget to conduct a complete audit, the firm wishes to make the audit as efficient as possible.the individual can send your staff to stores throughout the country if needed.