SOAL CASE 14 - 33 Dan CASE 16-35 [PDF]

Citation preview

CASE 14 - 33 & CASE 16-35 PENGAUDITAN 2



Oleh : Kelompok 4 Anggota Kelompok : 1. Shahnas Uzdah Zaman 2. Oktaviani Artanti 3. Dentri Kumala S 4. Achmad Syaugi 5. Muhammad Rizki Noor 6. Haura Mahirah



(041611333212) (041711333221) (041911333037) (041911333189) (041911333201) (041911333226)



FAKULTAS EKONOMI DAN BISNIS UNIVERSITAS AIRLANGGA 2020



Case 14-33 (Objective 14-3) YourTeam.com is an online retailer of college and professional sports team memorabilia, such as hats, shirts, pennants, and other sports logo products. Consumers select the college or professional team from a pull-down menu on the company’s Web site. For each listed team, the Web site provides a product description, picture, and price for all products sold online. Customers click on the product number of the items they wish to purchase. The following are internal controls YourTeam.com has established for its online sales: a. For each control, identify the transaction-related audit objective(s) being fulfilled if each control is in effect. b. For each control, describe potential financial misstatements that could occur if the control was not present. 1. Only products shown on the Web site can be purchased online. Other company products not shown on the Web site listing are unavailable for online sale. a. Accuracy and occurrence. b. Sales will proceed with inaccurate price. Sales for the products which are not available for sale will recorded as sales. Penjualan akan dilanjutkan dengan harga yang tidak akurat. Penjualan atas produk yang tidak tersedia untuk dijual akan dicatat sebagai penjualan. 2. The online sales system is linked to the perpetual inventory system, which verifies quantities on hand before processing the sale. a. Accuracy and occurrence. b. Sales may be processed for that product available using a number of orders, though order quantity is not on hand. Sales may be logged for products that do not exist. Penjualan bisa saja diproses untuk produk yang tersedia menggunakan jumlah pesanan, walaupun jumlah pesanan tidak di tangan. Penjualan dapat dicatat untuk produk yang tidak ada 3. Before the sale is authorized, YourTeam.com obtains credit card authorization codes electronically from the credit card agency. a. Occurrence b. Sales may be processed even when the customer is unable to pay 4. Online sales are rejected if the customer’s shipping address does not match the credit card’s billing address. a. Occurrence b. Shipments may be made to the wrong person . What i mean by wrong person is the person who actually don’t own the credit card (maybe that person stole the credit card) 5. Before the sale is finalized, the online screen shows the product name, description, unit price, and total sales price for the online transaction. Customers must click on the Accept or Reject sales button to indicate approval or rejection of the online sale. a. Accuracy.



b. Sales are likely to be processed inappropriately. For example, the wrong product name, wrong price, and the wrong number of items sold. Penjualan tersebut diproses secara kurang benar. Misalnya kesalahan nama produk, salah harga, dan salah jumlah barang. 6. Once customers approve the online sale, the online sales system generates a Pending Sales file, which is an online data file that is used by warehouse personnel to process shipments. Online sales are not recorded in the sales journal until warehouse personnel enter the bill of lading number and date of shipment into the Pending Sales data file. a. Occurence, Timing. b. Sales may be recorded even though shipment has not occurred. Sales may be recorded in the wrong time period. Penjualan dapat dicatat walaupun pengiriman belum dilakukan. Sehingga, pencatatan tersebut terjadi di dalam periode waktu yang salah. Case 16-35 (Objective 16-4) In the confirmation of accounts receivable for the Reliable Service Company, 85 positive and no negative confirmations were mailed to customers. This represents 35% of the dollar balance of the total accounts receivable. Second requests were sent for all nonresponses, but there were still 10 customers who did not respond. The decision was made to perform alternative procedures on the 10 unanswered confirmation requests. An assistant is requested to conduct the alternative procedures and report to the senior auditor after he has completed his tests on two accounts. He prepared the following information for the audit files: 1. Confirmation request no. 9 Customer name — Jolene Milling Co. Balance — $3,621 at December 31, 2016 Subsequent cash receipts per the accounts receivable master file:



2. Confirmation request no. 26 Customer name — Rosenthal Repair Service Balance — $2,500 at December 31, 2016 Subsequent cash receipts per the accounts receivable master file Sales invoices per the accounts receivable master file (I examined the duplicate invoice)



January 15, 2017 — $1,837 January 29, 2017 — $1,263 February 6, 2017 — $1,429



February 9, 2017 — $500 September 1, 2016 — $4,200



a. If you are asked to evaluate the adequacy of the sample size, the type of confirmation used, and the percent of accounts confirmed, what additional information will you need?



The expected errors, and the significance of the total of the account receivables, and the number of accounts that are listed as the balance on the date of dec 31 2016, and the distribution and size of the receivables, and the control risk assessments that help understand the internal controls. b. Discuss the need to send second requests and perform alternative procedures for nonresponses. -Sometimes they may need to send 2-3 requests. For many reasons a person may not have received the first request. They want to have good follow up procedures. If the auditor makes a second attempt or a call and cannot get a response, then they need to find alternatives. They can look for cash receipts, shipping receipts, sales invoices and see when they were established. -If the amount is material, it is necessary to carry out a follow-up procedure so that positive confirmation is not returned by the debtor. It is common to send a second request for confirmation or even a third request. Even with these efforts, some customers did not return confirmations, so all nonresponses needed to be followed up with a method known as "alternative procedures."



c. Evaluate the adequacy of the alternative procedures used for verifying the two nonresponses. ● Confirmation request no. 26, shows a small pmt that has no invoice correlation. It is missing an invoice #. The auditor wrote the in the master file he was only able to look at a duplicate invoice so this could have been altered. He can look at the shipping docs to see what goods were shipped and the details. ● Confirmation request no. 9, shows where the auditor showed the invoices that were applied to the balance and where the other was applied as of $ 3,621 at December 31, 2016. He must have been able to review copied checks to compare to bank statements for the info. Not all the info in the non-responses are accurate. He did not show where the specified invoices were for the specific payments. Also he didn’t show completeness when reviewing those check items.