Audit proposal Essay Example | Topics and Well Written Essays - 750 words

Audit proposal - Essay ExampleThis therefore shows that an take stock 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 either risks in the operations of the business. In line with the above, an auditor selected to conduct one to an organic law needs to compile an audit proposal to convince the management on the importance of conducting the audit and how cost effective they ar likely to do it and achieve the organizational objectives. A proposal must be detailed and thorough, nimble in an ethical and professional manner (Blazek, 2008). Types of Audits applicable There ar several forms of audit that erect be performed to Kudler fine foods. This is to tell its smooth operations, sure financial stability, and accountability and the most is, the audit to ensure that its arrangement operate ons function effectively. Among the types of audits we have financial audits, this is done ascertain the reliability, reliance, fairness, accuracy of the financial data. fiscal 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 gener entirelyy concerned with the audit of the general operations, with operations audit there comes an aspect of evaluation and sound judgement of the fine foods operations accompanied with complex operation structures incorporating the subprogram of modern technology like the use of software in handling the assets of the restaurants. Information governances audit entails general controls review, application controls review and systems control review. prevalent 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 arou nd the review of several application systems within the organization. The controls on inputs, processing and outputs are extensively analyzed, examined, and hence 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 accountability 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 large knowledge of the systems under which the fine foods restaurant operates. Kudler fine foods have ins talled a software system for expeditious 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 with(predicate) such leakages. The payroll process ensures that the in force(p) payments are made to the right people at the right time and without any loss of valuable