Create a 6 page essay paper that discusses The Deliverable: User Requirements and System Specifications Document for an Internal Audit Reports & Issues Tracking System.
of the inventory, the management fraud indicators and financial indicators will be displayed in order to help the internal auditor analyze better for a better recommendation to management.
The internal auditor module also show the expiry date of the inventory and a warning will be issued to the internal auditor if the inventory is a few days before the expiry date so such items will be fast tracked and issued to the selling department to be sold before the product expires.
There will be a small icon that when clicked will show variances between inventory levels from the beginning and the time of audit. This will be done to determine if the inventory levels were increased because of the expected future demand for the goods based on the marketing study done by the marketing department.
This auditing system supports the internal auditor in his daily activity of monitoring whether the incoming of goods from the suppliers have purchase requisition and approved by the department head concerned and the auditor also wants to know the number of issuances for internal audit report and the number of purchases that are. The auditor has to use the purchase orders module to determine whether the purchases have been approved by the higher ups in the organizations and there is a receiving report properly signed by the receiving person. Upon clicking the inventory system balances, what appears is as follows: Beginning balance ____, purchases_____, issuances, Ending balance. When the ending inventory balance is indicated on the computer screen this number must then be compared with the actual physical count to determine if there are discrepancies. If the actual count of inventories is placed alongside the is more than the book the this means that these items may not be been recorded. This may only be the tip of the iceberg meaning that there is a possibility that more inventory item issuances and receipts of goods from suppliers and other branches around the world
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