AUDITING AND ASSURANCE SERVICE.

Added on - 30 Oct 2019

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Running head: AUDITING AND ASSURANCE SERVICEAuditing and Assurance ServiceName of the Author:Name of the University:Author’s Note:
1AUDITING AND ASSURANCE SERVICETable of ContentsAnswer to Question No 1................................................................................................................2Answer to Question No 2................................................................................................................3Bibliography....................................................................................................................................5
2AUDITING AND ASSURANCE SERVICEAnswer to Question No 1The first question requires to list and explain the audit work that would be performed on thedata data master file. It is seen that the master file that has been provided is in text format andrequires to be converted into excel in order to undertake analysis.With respect to the data file that has been provided in the excel sheet, master data withrespect to the inventory would be undergoing the process of stratum where the count, averageand sum of six layers would be evaluated. The six layers are constructed with the help of thevalues that are available for each each of the product numbers. Stratum 1 comprises of the valuesthat are below 0. Stratum 2 collects the values that are more than 0 but are less than 1000.Stratum 3 has values that are more than 1000 and are less than 5000. Stratum 4 has values morethan 5000 but are less than 10000. Stratum 5 has figures that are more than 10000 but is less than50000. The last layer has values that are more than 50000 but less than 100000. The count,average and sum of the figures would provide answers that would aid in the process of auditing.The next process comprises of computing the age of the products that are within the inventoryand it is seen that the value comprises to more than 360. The next performance will becomputing the LOC 6 and values that are above 5000. The process after this would be computingthe margin so that the inventory level can be evaluated in an effective manner. The last workwould be computing the sub total that would be influential for the completion of the audit work.
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