Please see the following link for the workbook:
https://www.dropbox.com/s/dl64xm1l6no3uk8/Workbook%20v10.zip?dl=0
You Need to analyze A/R data (see workbook) and discuss the 3 findings on page 90 of the IDEA workbook.
CI202 IDEA Data Analysis Workbook, you will be performing an Accounts Receivable Audit.
•Read pages 21-23 to obtain an overview of the risks associated with A/R that could be addressed by using computer assisted audit procedures and the tests that can be performed to help address or identify those potential risks.
•Read through the Potential (Key) Risks, the Implications (both business and audit) of each Risk, and the Audit Objectives that could be addressed by performing certain audit tests on pages 21-2.
On Pages 23-24, read the potential tests which are suggested when auditing an Accounts Receivable system, including common tests which would be appropriately tailored to the IT system and controls used by each individual client in real-world applications.
Finally, now read the Case Scenario for Accounts Receivable which you will be working on for Bright IDEAs Inc., your client, for the audit of Accounts Receivable for this client on Page 24. Make sure you focus on the main objectives of auditing accounts receivable described in the Case Scenario on Page 24.
Next, on Pages 25-26, read the section Obtaining the Data and Page 27, the Audit Program, including the Auditing Procedures which need to be performed to ensure that Accounts Receivable shown in the Financial Statements are free from a material misstatement.
Follow the instruction on pages 28-30 for the Audit Setup.
Then the instructions on pages 31-35 for importing the A/R. Transactions file
Next follow the instructions for selecting a control total field on pages 36-38
Then follow the instructions for obtaining the filed statistics on pages 38-40
Next follow the instructions for reconciling the database on page 41-48
Then follow the instructions on pages 49-58 for random Record Sampling and choosing a sample of items for confirmation and identifying other required testing to prove the validity of the recorded A/R.
Next extract high value and old items following the instructions on pages 58-60.
Then identify and review all credit notes following the instructions on pages 61-63.
Next calculate the net Transaction amounts following the instructions on pages 64-66.
Then analyze the balances and taxes by account following the instructions on pages 67-69
Check the debtors against authorized credit risk by following the instructions on pages 70-89.
Submit to the Assignments folder in Leo the IDEA files and/or the corresponding Output Reports all copied and pasted into MS Word supporting the Audit Findings listed on Page 90 of the Workbook. There are 3 Audit Findings listed on that Page.
Create a document in MS Word that briefly documents the audit and/or data analysis process(es) that you employed using IDEA to arrive at each of the 3 different Audit Findings. In your document, each Audit Finding should have a brief narrative section as well as a corresponding screenshot(s) from IDEA to support your written findings and/or your related comments related to the findings. All required screenshots must be inserted into your MS Word document for credit.
To create a screenshot, go to the IDEA screen that you want to capture to support the Audit Finding and press Ctrl PrtScn. Go to MS Word. Hit Ctrl V. Resize the image for the page and crop the screenshot if necessary.
•Compress and zip your 3 IDEA documents and your narrative document (that includes screenshots) into one zipped.