Coronavirus made it tough but we keep working remotely with no delays. Get 15% OFF your First Order
Get 15% OFF your First Order

CWU Audit Opinion and Internal Control Report

hey,

Each of the following is separate discussion board post, Each post is about 200 words

Don't use plagiarized sources. Get Your Custom Essay on
CWU Audit Opinion and Internal Control Report
Just from $13/Page
Order Essay

————————————————————

How Would You Write the Audit Opinion and Internal Control Report (1 of 3)

Based on the following, if you were the auditor, what would your conclusions/recommendations be? What would you state in your audit report?

  • Materiality is $120 million

Audit Findings:

  • Cash reconciliations not performed until 5 months late, but were caught up by year-end. At one point in time, the unreconciled balances totaled $1.4 billion.
  • Financial statements had some minor differences before being provided to the auditors
  • Financial statements were fairly stated at year-end
  • Entity adopted new SFFAS this year that significantly changed the reporting structure

——————————————————————————————————————————-

How would you write the audit opinion and internal control report (2 of 3)?

Based on the following, what would your conclusions/recommendations be? How would you write the audit opinion and internal control report?

  • Materiality is $120 million

Audit Findings:

  • Audit could not be completed in time due to financial statement preparation weaknesses
  • Large numbers of disbursements without supporting documentation (approximately $275 million)

——————————————————————————————————————————-

How would you write the audit opinion and internal control report (3 of 3)?

Based on the following, what would your conclusions/recommendations be? How would you write the audit opinion and internal control report?

  • Materiality is $120 million

Audit Findings:

  • Major problems after implementing a new financial accounting system
  • Problems with locating supporting contract information
  • Financial statements were fairly stated after material auditor adjustments.