You are a financial auditor and work on the ABC Building Lt…

You are a financial auditor and work on the ABC Building Ltd account. The Audit Partner is suspecting that the CEO (Peter Ran) have used financial statement fraud techniques to inflate net income and get higher bonuses.
The Partner is suspecting the following fraud schemes having been applied to inflatenet income:
• Concealed Cost of Goods Sold
• Fictitious Revenue
• Improper Asset Valuation
The General Journal
You are provided with two years of general journal data. The data file “ APE 2 Dataset” can be downloaded . The total balance of the two years of data is around$44.6million.The financial

View complete question »You are a financial auditor and work on the ABC Building Ltd account. The Audit Partner is suspecting that the CEO (Peter Ran) have used financial statement fraud techniques to inflate net income and get higher bonuses.
The Partner is suspecting the following fraud schemes having been applied to inflatenet income:
• Concealed Cost of Goods Sold
• Fictitious Revenue
• Improper Asset Valuation
The General Journal
You are provided with two years of general journal data. The data file “ APE 2 Dataset” can be downloaded . The total balance of the two years of data is around$44.6million.The financial year start date is 1June. Download the data file to your computer. Please note that the materiality for the engagement is $100,000 (reduce the weightings for the material value control point to 5% in the Mind Bridge tool). It is also important to note that bookkeeping is regularly done on weekends.
Your task Analyse
the general journal using the Mind Bridge Ai Auditor tool specifically addressing the above mentioned fraud schemes. Identify no more than 25 transactions using the various investigative features in MindBridge’s Ai Auditor (risk-buckets, risk by months, risk-burst, filter builder). Create ‘tasks’ for these transactions and export them from the Audit Plan section.
REQUIREMENT DETAILS NOTES 1. Create an engagement Check for completeness and correctness of setup of the engagement such as engagement name, industry, period frequency, fiscal start month, fiscal start day. 2. Upload data Check the correctness of data upload such as column mapping. 3. Setup control points for engagement Check for the correctness of control point settings such as materiality value, suspicious key words, weekend entries. 4. Analyse the journals Check for the use of tools such as risk buckets, risk breakdown by month, risk graph, smart search, filter builder to analyse the journals and identify fraudulent transactions. 5. Identify fraudulent transactions/journals Check for correctness of journals and transactions identified for each fraud category and the validity of the explanations provided.

Attachments:

information-A….docxData-set—as….xlsx

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