Question

Consider and discuss the specific risks and nature of the company you will be auditing and create comprehensive work programs for the Inventory, Warehousing, and Payroll accounts and cycles.

• Audit steps for tests of controls, balances, transactions, analytical procedures, etc. as well as other considerations such as sample size and sample methodology.

• A brief summary page should be included in this document, 525 to 700 words, for each of the work programs. Include in this summary specific financial information gleaned from the current Form 10-K used to perform an analysis of work program steps. For example, if the team noted significant swings in the Inventory balance year-over-year, identify these swings and how you address them in your work program (this is in essence an audit procedure - analytical review).

I am working on transaction and analytical procedure and the company is Apple.

Answer 1

answer:

• The organization being evaluated is Walmart. As on 31st January 2016 the organization had a stock parity of $44 billion in its books.
• As Walmart isn't a maker however a retailer the whole stock is as completed merchandise and there is no work in advancement.
• The 10-k of Walmart states that stock is esteemed at lower of expense or market premise and the toward the end in first out (LIFO) strategy is utilized.
• With respect to the reviewing strategies of Walmart's stock compromise should be done between the sub record and the general record.
• Keeping in mind the end goal to test the fulfillment of stock perception of physical stock should be performed.
• Irregular postings of stock will b followed to the distribution center floor of Walmart. The administration's valuation of stock will likewise must be tried by the commitment group.
• Again irregular determination of stock will be done and book estimation of every choice will be contrasted and its market cost.
• With respect to inspecting strategies of its distribution centers the commitment group will look at the marked reports of all approaching and active items that travel through various stockrooms of Walmart.
• Keeping up a record to this impact will assist reviewers with doing substantive trial of control.
• Concerning finance the review group will acquire data on Walmart's approaches with respect to its finance, its account, its handling and so on.
• The review program with respect to finance will incorporate investigation of structures, charge announcing and time clock participation recording framework.
• All these will at that point be accommodated.

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