ACCT 562 Week 5 A Findings and Reporting – Discussion
Review the Findings (graded)
Let’s consider a real-world example. Review the findings of an In-House Audit at Walmart and let’s discuss the issues that were identified in the findings.
Are in-house audits appropriate for all companies? What else can they help to discover?
What are the six steps to developing a finding, including the purpose of each step? (Please just describe the “purpose” for only one or two of the steps, to allow others a chance to contribute – thanks!)
We are working on our actual Report this week. The lecture tells us that the auditor should clearly state the attributes of each finding: condition, criteria, cause, effect, and recommendation. How would you define criteria, and What are “good” criteria in an operational review?
When should you escalate findings beyond the client?
