WEEK 105 ASSIGNMENT

CAATs Application:  Inventory with Boos & Becker Inc [CLOs: 1, 3, 4]

Read problem 9.53 CAATs Application: Inventory on pages 405 and 406 of the textbook and complete the following:

· In general and without regard to the preceding facts, discuss the nature of CAATs and list the various audit uses of such packages.

· List and describe at least five ways CAATs can be used to assist in all aspects of the audit of inventory of Boos & Becker Inc. (For example, CAATs can be used to read the inventory master file and list items and parts with a high unit cost or total value. Such items can be included in the test counts to increase dollar coverage of the audit verification.) (Hint: Think of the normal audit procedures in gathering evidence on inventory when the client makes a periodic count; then think of how these could help in this particular client situation.) 

GRADING RUBIC:

Discusses the Nature of CAATs and Lists the Various Audit Uses of Such Packages. Total: 3.50

Lists and Describes at Least Five Ways CAATs Can Be Used to Assist in All Aspects of the Audit of Inventory of Boos & Becker Inc. Total: 4.00

Critical Thinking: Explanation of Issues. Total: 0.50

Integrative Learning: Connections to Experience. Total: 0.50

Written Communication: Control of Syntax and Mechanics. Total: 0.50