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Audit proposal - Essay Example

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Audit proposal

This therefore shows that an audit should be frequently undertaken and in a very concise manner. Another reason it should always be undertaken is that it helps mitigate the possibility of any risks in the operations of the business. In line with the above, an auditor selected to conduct one to an organization needs to write an audit proposal to convince the management on the importance of conducting the audit and how cost effective they are likely to do it and achieve the organizational objectives. A proposal must be detailed and thorough, prepared in an ethical and professional manner (Blazek, 2008). Types of Audits applicable There are several forms of audit that can be performed to Kudler fine foods. This is to ensure its smooth operations, sure financial stability, and accountability and the most is, the audit to ensure that it’s system controls function effectively. Among the types of audits we have; financial audits, this is done ascertain the reliability, reliance, fairness, accuracy of the financial data. Financial data that can be relied upon aids in the planning of several company activities, good financial data helps an organization in focusing into the future (Blazek, 2008). Another type of audit is the operations audit that is generally concerned with the audit of the general operations, with operations audit there comes an aspect of evaluation and assessment of the fine foods operations accompanied with complex operation structures incorporating the use of modern technology like the use of software in handling the assets of the restaurants. Information systems audit entails general controls review, application controls review and systems control review. General controls would involve assessment of the general system applications and security. Their development is fundamental and their maintenance comes with the package of these controls. Application control revolves around the review of several application systems within the organization. The controls on inputs, processing and outputs are extensively analyzed, examined, and then assessed to determine their effectiveness. The last on this is the systems control review is the overview of the systematic development of a new system. This runs right from the identification of the organizational objectives, then the system development organizational needs. Lastly, there is the implementation of a system and evaluated. To crown it all Kudler fine foods can also apply the integrated audit system, which is easier to apply since it, summarizes all the above types of audits in totality (Blazek, 2008). Audit process recommended and application The fine foods restaurant is established in a system, which is industry specific and is in the verge of cost reduction measures. Its employees also have vast knowledge of the systems under which the fine foods restaurant operates. Kudler fine foods have installed a software system for efficient inventory control, efficient monitoring, and control of cash as the major assets of the business venture. The system handles effective acquisition of materials for the organization and issuance of the same materials. The software is also used to handle the accounting needs of the organization and therefore accurate financial reporting for decision-making. To control and allocate labor costs efficiently, the software system allows for a clock card process to account for the number of labor hours actually worked. Dummy workers are a major problem in majority of organizations and many organizations normally loose monetary resources through such leakages. The payroll process ensures that the right payments are made to the right people at the right time and without any loss of valuable ...Show more

Summary

An audit is a process of planning, gathering of evidence, investigating the evidence and writing a report about the findings including recommendations for betterment of the process. An audit is a vital aspect of any organization and its undertaking is equally more important. …
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Audit proposal essay example
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