Bradmark Expenditure Cycle
Bradmark Comprehensive Case
Chapter 10 Expenditure Cycle
Read The Bradmark Case located in the Bradmark Case Description folder and answer the following questions:
1) From the case description and the associated flowcharts, asse
17-13, 17-14, 17-15
Dear Roger Moore,
There were a few concerning points in your letter today that may need further consideration.
Firstly, the idea that Spartan will work in the background and not perform any user interviews or
questionnaires is ap
15-1, 15-5, 15-12
If an audit client firm outsources its IT function to a vendor, the auditor needs to conduct an
evaluation of the vendor (or obtain an SSAE 16 auditors report for the vendor organization).
Subservice organization reporting technique
a. Describe the uncontrolled risks associated with this system as it is currently designed.
b. For each risk describe the specific internal control weaknesses in the system that causes
or contributes to the risk.
a. Customers with bad credit may
6-1, 6-6, 6-11
They could have used separation of duties so that the foreman was not preparing the paychecks as well
as distributing them. If the distributor cannot distribute the check to the employee (in the case of John
because they are no longer w
1. What control procedures could Petty Corporation have employed to prevent this
unauthorized use of cash? Classify each control procedure in accordance with the
COSO framework (authorization, segregation of functions, supervision, etc.).
Page 30: 12.
a) Define independence as it relates to the internal audit function
Internal auditors must be independent from the activities of the organization so that
they can look at just the facts to perform their duties. They must not repo
9-3, 9-11, 9-12
Underline = primary key, FK = foreign key
User view (given):
Remove repeating group data:
1. Be able to distinguish between the attest function and
2. Understand the concept of management assertions
and recognize the relationship between assertions
and audit objectives.
3. Know the difference between tests of controls and
Chapter 4-Revenue Cycle Quiz
1. Give an example of where a check digit control
would be used in the revenue cycle.
2. What document triggers the billing process?
3. What is a bill of lading?
4. What traditional accounting records are replaced
by the Sales
1. Explain the Big Bang approach
2. What is Bolt-on software
3. What is the purpose of a data warehouse
4. Name three risks associated with ERP
5. What is an ERP Role
Traditional Closed Database Model
What is this
Use of ACL in the Audit Workplace
Join and Extract Commands
March 25, 2015
Understand the fundamentals of the ACL tool
Understand the common risks and controls related to the
purchase to pay (P2P) process
a. An employee action form from the personnel
department should list all current employees.
Time cards for terminated or non-existent
employees should be identified when reconciled
with the personnel report.
b. An independent paymaster should
How to change data types for Joins and other operations
Data type is character
Double click to change
Select the data type to
which you want to switch
Accept the change of
Close window and the
table will reappear with
Chapter 5 Homework
1) Risk: Purchase items not needed, stock outs, purchase
from unapproved vendors
Control: Transaction Authorization: Inventory Control
function should identify inventory needs and should
incorporate a valid vendor fi
ACCOUNTANTS AS SYSTEM DESIGNERS
ACCOUNTANTS AS SYSTEM AUDITORS
External (Financial) Audits
tests of controls
Attest Service versus Advisory Services
Services that Attest Auditors Cannot provide
Flat File Model
Single User view
Multi User view
Detailed discussion Chapter 9
Batch v Real Time Processing
Why not all Real Time?
a. Distinguish between a purchase requisition and a purchase order
A purchase requisition is prepared and sent to initiate the purchase process when
inventories drop to a predetermined level. It contains routine ordering information