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    Consideration of Internal Control in A Financial Statements Audit

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    Jan Danielle Agalo
    The document describes an audit case involving the Islander Drug Store, Inc. which is a medium-sized retail outlet that sells consumer goods and processes cash and check sales through cash registers. It provides a template for an internal control questionnaire related to the company's cash collection processes, with questions requiring yes or no answers but not discussing internal controls over cash sales.

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    Consideration of Internal Control in A Financial Statements Audit

    Uploaded by

    Jan Danielle Agalo
    426 views9 pages
    The document describes an audit case involving the Islander Drug Store, Inc. which is a medium-sized retail outlet that sells consumer goods and processes cash and check sales through cash registers. It provides a template for an internal control questionnaire related to the company's cash collection processes, with questions requiring yes or no answers but not discussing internal controls over cash sales.

    Original Description:

    aud report

    Original Title

    Audit Report Final Slide

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    The document describes an audit case involving the Islander Drug Store, Inc. which is a medium-sized retail outlet that sells consumer goods and processes cash and check sales through cash registers. It provides a template for an internal control questionnaire related to the company's cash collection processes, with questions requiring yes or no answers but not discussing internal controls over cash sales.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    426 views9 pages

    Consideration of Internal Control in A Financial Statements Audit

    Uploaded by

    Jan Danielle Agalo
    The document describes an audit case involving the Islander Drug Store, Inc. which is a medium-sized retail outlet that sells consumer goods and processes cash and check sales through cash registers. It provides a template for an internal control questionnaire related to the company's cash collection processes, with questions requiring yes or no answers but not discussing internal controls over cash sales.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 9

    Consideration of

    Internal Control in a
    Financial Statements
    Audit

    GROUP 4
    (CASE STUDY)
    CASE:
    David Tuazon, CPA, has been engaged to audit
    the financial statements of the Islander Drug Store,
    Inc. Islander is a medium-sized retail outlet that
    sells a wide variety of consumer goods. All sales
    are for cash or check. Cashiers use cash registries
    to process these transactions. There are no
    receipts by mail and there are no credit card or
    charge sales.

    2
    REQUIRED:

    Construct the “Processing Cash Collections”


    segment of the internal control system for the
    Islander drug Store, Inc. Each question should
    elicit either yes or a no response. Do not
    discuss the internal controls relating to cash
    sales.

    3
    ISLANDER DRUG STORE, INC.
    Processing Cash Collections
    Internal Control Questionnaire

    4
    5
    6
    7
    8
    THANK YOU!

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