Each of the following audit procedures is being used in the audit of Rockport Homes, Inc., to test the production control activities.
For each of these procedures identify (a) the strength of the internal control procedure being tested and (b) the internal accounting objectives being addressed.
Audit Procedure
(a) Strength
(b) Objective
1.Select a sample of the documents prepared when raw materials are released from stores. Examine and tie the job number to the cost accounting records.
2.Select a sample of the materials release documents in the production department file. Examine for foreman’s signature or initials.
3.Select a sample of the materials release documents in the production department file. Examine for issue date/material usage report date.
4.Select a sample of the materials release documents in the production department file. Examine for name and item number of the material.
5.Select a sample of the materials release documents in production department file. Examine for the clerk’s signature or initials who issued the raw materials.
6.Select a sample of the materials release documents in the production department file. Examine for matching material requisition in raw materials stores file, noting the date of requisition.
(Hooks 791-792)
Hooks, Karen L. Auditing and Assurance Services: Understanding the Integrated Audit. Wiley, 03/2010. VitalBook file.
The citation provided is a guideline. Please check each citation for accuracy before use.
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