ACCT 562 Week 8 Final Exam
Essay:
- (TCO A) Identify the three “E’s” of operational auditing, and note three examples of each. Illustrate how these fit into the specific objectives of the operational audit.
- (TCO B) One of the most important arrears of the planning phase is to identify the critical problem areas. A good place to start in determining critical operational areas is to analyze the organization’s financial data and statements. Identify and explain the four analytical tools that can be used to effectively analyze financial statements
- (TCO C) There are four procedural steps in the work program development, identify these procedural steps and their purpose, then list no less than five work steps to help the reviewer meet the objectives during a review of purchasing department operations, as outlined in your notes
- (TCO D)Describe four factors that a reviewer must consider in reaching conclusions during the field work phase, explain why a reviewer should consider these factors. Then identify four specific field work techniques used to identify weaknesses in management and operational systems
- (TCO E) Criteria is one of the attributes of review findings. Identify no less than four of the six criteria standards and analyze their inclusion in your report.
- (TCO F) Identify and describe the four categories of corruption? What do they have in common? How do they differ?
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STATUS
During the field work phase, the operational reviewer often prepares work papers.
- Identify the element every work paper should contain
- Identify five ways in which work papers are used
- Discuss how the reviewer might benefit from the used of work papers.
