Final Exam_413 - Kyle Gring ACC 413-02 4/23/2010 Final Exam...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
ACC 413-02 4/23/2010 Final Exam Question 1 (INDIVIDUAL): Refer to the December 3, 2009 Internal Audit Report for the Audit of the Lexington Public Library (Kentucky) a. What type of audit was performed? A. In the case of the Lexington Public Library the audit that was performed in 2009 was an investigative audit. This is an audit that takes place as a result of a report of unusual or suspicious activity on the part of an individual or a department. It is usually focused on specific aspects of the work of a department or individual. After reading through the audit report it was found that during the original audit by the Kentucky Auditor of Public accountants three were numerous problems. The operational and financial activities of the Lexington Public Library had many inadequacies which led the mayor to ask the firm to facilitate and investigative audit on the Lexington Public Library. b. Was the audit conducted within the reported scope? A . A scope of audit means the audit procedures deemed necessary to achieve the objective of an audit. The objective of the audit of the Lexington Public Library were to explore financial transactions that were specifically related to credit card expenditures and to ensure that purchasing procedures were both reasonable and appropriate. With this framework set I feel the
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 5

Final Exam_413 - Kyle Gring ACC 413-02 4/23/2010 Final Exam...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online