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Product Description
Auditing is a valuable skill in accounting and business , as the odds are very high that you or your organization will be subject to a compliance , federal , IRS , internal , government , or revenue audit at one point in your career . Accountants are required to make professional judgments on both the financial accounting issues and internal accounting forecasts within their organization . The auditor must provide fair , unbiased , materially correct information for investors , employers , employees , and independent stakeholders . This course will help you navigate the relevant processes to provide that unbiased , accurate information
For Milestone Three , you will submit a draft of your memos to upper management . First , you will prepare a memo to be reviewed by the chief financial officer ( CFO ) of your chosen company that summarizes the audit process conducted . Then , you will assume the role of CFO of the company and prepare a memo to the Board of Directors as to what potential issues the external audit team might find and what the company ’ s response should be
Prompt : Prepare memos with your recommendations to upper management using the findings from your audit report .
Specifically , the following critical elements must be addressed :
A . Prepare a memo to be reviewed by the chief financial officer ( CFO ) that summarizes the audit process .
1 . Explain any sampling or other audit work that could be done , and if you would recommend the company pursue this additional work . Justify your response .