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    Audit Program 13-1

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    Nelson Gonzalez
    The document outlines an audit program to evaluate internal controls over acquisitions at Oceanview Marine Company. It details steps to obtain an understanding of the control environment, document the accounting system flowchart, complete internal control and risk assessment questionnaires related to the company's acquisition process. The audit aims to understand and document the key controls and assess the risk level for the acquisition cycle.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Audit Program 13-1

    Uploaded by

    Nelson Gonzalez
    223 views1 page
    The document outlines an audit program to evaluate internal controls over acquisitions at Oceanview Marine Company. It details steps to obtain an understanding of the control environment, document the accounting system flowchart, complete internal control and risk assessment questionnaires related to the company's acquisition process. The audit aims to understand and document the key controls and assess the risk level for the acquisition cycle.

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    The document outlines an audit program to evaluate internal controls over acquisitions at Oceanview Marine Company. It details steps to obtain an understanding of the control environment, document the accounting system flowchart, complete internal control and risk assessment questionnaires related to the company's acquisition process. The audit aims to understand and document the key controls and assess the risk level for the acquisition cycle.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    223 views1 page

    Audit Program 13-1

    Uploaded by

    Nelson Gonzalez
    The document outlines an audit program to evaluate internal controls over acquisitions at Oceanview Marine Company. It details steps to obtain an understanding of the control environment, document the accounting system flowchart, complete internal control and risk assessment questionnaires related to the company's acquisition process. The audit aims to understand and document the key controls and assess the risk level for the acquisition cycle.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    Oceanview Marine Company 13-1

    Audit Program:
    Evaluation of Internal Control over Acquisitions
    December 31, 2018

    Comments or W/P
    Initials Date
    Reference

    Part 1: Obtain an understanding of the client’s


    internal controls

    1. Discuss the control environment, accounting BC 1/28/2019 —


    system, and control activities with management
    and client personnel.

    2. Obtain and study client’s policy and procedures BC 1/28/2019 —


    manuals and examine documents and records
    used in accounting system.

    3. Observe control-related client activities over BC 1/28/2019 —


    purchases and cash disbursements.

    Part 2: Document your understanding of the


    client’s internal control
    4. Prepare a flowchart of the accounting system for BC 1/29/2019 W/P 13-2
    acquisitions, including document flow,
    processing, disposition of documents, and control
    activities.

    5. Complete the “Internal Control Questionnaire—


    Acquisitions.”

    Part 3: Preliminary assessment of control risk

    6. Using the information obtained above, complete


    the “Preliminary Assessment of Control Risk—
    Acquisitions” matrix.

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