Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Audit of the acquisition and payment cycle

05/05/2021 Client: muhammad11 Deadline: 2 Day

Paul Ma is responsible for the acquisition and payment cycle of Raleigh Corporation. Inherent risk for accounts payable is high due to the following risk factors: client's bank covenants are tied to the current ratio and management receives bonuses based upon net income. Controls tend to be strong; however, due to some errors in the past, control risk has been set at moderate.

Accounts Payable Substantive Tests

Ma selected the 100 largest supplier balances from the total of 1000 suppliers recorded in the accounts payable subledger and sent out confirmations.

Cash Disbursement Control Tests

In testing cash disbursements for Raleigh, Ma performed minimum 25 transactions to determine if the control risk assessment was appropriate. He found the following exception:

· Five receiving reports were recorded in the acquisitions journal at least two weeks later than their date on the receiving report.

Required:

(a) Based upon the risk factors discussed above (bank covenants and management bonuses) what is the relevant assertion at risk of misstatement for accounts payable? Explain why.

(b) Explain what is wrong with the design of Ma's substantive test for accounts payable .

(c) Provide three substantive audit procedure that would be more effective than selecting and confirming large supplier balances for the audit of accounts payable.

(d) For the exception for the cash disbursement testing, identify which assertion(s) was not met.

(e) Explain the impact (what could go wrong) for the exception (internal control weakness) for Raleigh.

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Engineering Solutions
Smart Accountants
Top Quality Assignments
Math Specialist
University Coursework Help
Homework Tutor
Writer Writer Name Offer Chat
Engineering Solutions

ONLINE

Engineering Solutions

I have read and understood all your initial requirements, and I am very professional in this task.

$89 Chat With Writer
Smart Accountants

ONLINE

Smart Accountants

I will cover all the points which you have mentioned in your project details.

$15 Chat With Writer
Top Quality Assignments

ONLINE

Top Quality Assignments

I have read and understood all your initial requirements, and I am very professional in this task.

$38 Chat With Writer
Math Specialist

ONLINE

Math Specialist

You can award me any time as I am ready to start your project curiously. Waiting for your positive response. Thank you!

$19 Chat With Writer
University Coursework Help

ONLINE

University Coursework Help

I will cover all the points which you have mentioned in your project details.

$88 Chat With Writer
Homework Tutor

ONLINE

Homework Tutor

I am known as Unrivaled Quality, Written to Standard, providing Plagiarism-free woork, and Always on Time

$94 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

Martin luther king 5 paragraph essay - Phil 347 critical thinking/ reasoning - In the proto evangelium god promised that - What cell does glisten medication work on - City of sydney parking permits - The passing of grandison theme - Ceremonial Speech - Whole foods market case analysis - Room reservation site - Project Management - Cell organelle quiz pdf - Carlos tarajano heart attack - Global interior design market - Covalent molecular compounds examples - Management - Management information system laudon chapter 1 ppt - Mercedes sprinter 519 cdi specifications - Positioning services in competitive markets lovelock ppt - Stand alone risk definition - Save the children book sale uwa - Breckland council brown bin - What major factors help influence salespeople's ethical conduct - Aussie hoses vs hoselink - Mikrotik cpu usage graph - DQ 5 - Barack obama nobel lecture answers - Financial statement analysis package fsap - Course Reflection Guidelines Nursing an the aging process - The safety impact on human of rocket launching - Apa style literature review format - Explain any three internal users of accounting information - Beulah ecton woodard - Distance between bridge supports - Unethical leadership at enron case study - The csirt is also known as the ir reaction team - Aviary design and construction - Workplace transport safety checklist - Human resource management discussion questions - Random sampling in excel 2007 - The book thief historical accuracy - Colours of the periodic table - Monty python holy grail castle scene - 4004 w 17th street los angeles - Post-mortem - Proper body mechanics for healthcare workers - What does the speaker compare imagination to in the poem - Costco business model analysis - Technical support consultant job description - Icris csc companies registry - Amreeka summary - Eagle eye battery monitoring system - Acsf level 3 test - Asian cultural traditions heinz pdf - Pirate booty ys viii - Cross keys surgery chinnor - University of salford staff - First cut domain class diagram - How race becomes biology embodiment of social inequality - Cwv origins powerpoint - Summary of major counseling theories - Phoenix contact's freeware ipassign tool - Unit 4 Philosophy Assignment - Percent of data within 2 standard deviations - Which of the following is an asset utilization ratio - The Body Rituals of the Nacirema - Albion Basin Negotiation - JOurnal - Athens and sparta were both countries city states monarchies empires - 11333 valley boulevard el monte ca - Knock down wood joints - ROTOR MACHINE CIPHER IMPLEMENTATION - Anz merchant eftpos rolls order - Q&A - Nation to australia's north west - Counseling Question - Two small beads having positive charges 3q and q - Solve Algebraic Questions (MyMathLab) - Kurt schwitters picture with light center - What is a mise en scene - 21st century skills critical thinking and problem solving gcu - Alist definition to kill a mockingbird - Politics and the Patient Protection and Affordable Care Act - 4x 2 20x 24 - 1408 scott ct irving tx 75060 - Hurtz and donovan 2000 - How to convert word to epub in calibre - A radical experiment in empathy - What is mco in healthcare - Systems analysis and design with uml version 2.0 5th edition - Essay on healthfield - Steps by Frank O Hara - Due tomorrow------Accounting - 702 kw to hp - Responses to 2 discissions post. Leadership - Journal Entry - Informative speech on gmos - Utd engineering degree plan - Persuasive speech outline on depression - Bio enzyme soil stabilization - Ical police sergeants exam