What Are The Audit Elements Of Apollo Shoes Audit Plan

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Audit Program Design Part III Senyo Adiko ACC/546 June 9, 2013 Chandria Jones Audit Program Design Part III During phase III of Apollo shoes audit plan, we will focus on the inventory and warehouse cycle as well as the cash cycle. Cash and inventory are vulnerable to fraudulent activities so it is important to assess the risks of those areas. We are responsible to conduct an unbiased and fair audit according to the PCAOB auditing standards. Our center of interest would be about the objectives of the audit, tests of controls, and substantive tests of transactions. We will also conduct analytical procedures for both cash, and inventory and warehouse cycles. Inventory and Warehousing Cycle |Transaction-Related…show more content…
| | | | | |Account for tag numbers to make sure none was deleted. | |Accuracy | | | | |Make sure recorded counts are accurate by |Compare physical counts to perpetual inventory master file.| |To make sure inventory is counted precisely. |recounting client’s counts. Check descriptions | | | |and unit of counts. | | |Items in the inventory listing schedules are accurate.| |Record client’s counts for subsequent testing. | | |To check for quantity, trace inventory listed |

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