week 8 & 9 discussion questions

Week 8

1a.Imagine that you were auditing accounts receivable balances to confirm sales and found significant discrepancies between the recorded account balances and returned confirmations from customers. Recommend an alternative approach to confirming sales revenue. Provide rationale for your recommendation.

1b.Using the case as a reference and from the e-Activity, discuss the improper recognition treatment you researched, and make a recommendation regarding the type of analytical procedure that should have detected the improper accounting transactions. Propose the internal control activities or audit plan that might have detected the improper transactions. Be specific with your recommendation.

Week 9

1a.Discuss at least three to five advantages and disadvantages of implementing an IT-based system. Identify at least four inherent operational and financial risks in using computerized reports. Propose at least two mitigation risk strategies, and justify your recommendation.

1b.Identify at least three risks that auditors need to consider for companies that process Web-based sales transactions, including credit card payments. For each risk identified, develop a mitigation risk strategy. Provide specific examples