250 Words - APA formatted referencesFor the BakFirn Corporation, an accounting audit of accounts...

Question

250 Words - APA formatted referencesFor the BakFirn Corporation, an accounting audit of accounts payable, vendor 
invoices, and inventory material acceptance is in progress. You notice that the 
three-way-match of pricing, amount, and units is not matching. You go to your 
next-level supervisor—the supervisor of the audit firm YOUCPA—and the supervisor 
informs you that you do not need to worry so much because they are not within 
the materiality amounts. He requests that you complete the outside audit as 
quickly as possible; the firm is under a tight budget with this client.

What do you believe your response should be in this situation?

Explain your reasoning.

David · Accepted Answer

Question: What do you believe your response should be in this situation? Explain your 
reasoning. 
The mismatch of pricing, amount and units for the BakFirn Corporation is a point of 
worry even though my supervisor had advised me to overlook the discrepancy as it does not falls 
within the materiality amount. However, during an audit it can always be judged whether the 
discrepancy falls between the materiality amounts or not by conducting various tests of material 
weaknesses in internal control.

250 Words - APA formatted references For the BakFirn Corporation, an accounting audit of accounts payable, vendor invoices, and inventory material acceptance is in progress. You notice that the...

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