ColAlta Pipeline: An External Auditing Simulation
ColAlta Pipeline
An External Auditing Simulation
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Stephen L. Bergstrom, MBA, CPA, CMA
Southern Alberta Institute of Technology
COLALTA PIPELINE
AN EXTERNAL AUDITING SIMULATION
2
ColAlta Pipeline: An External Auditing Simulation
2018 edition
Photo credit: www.colou
ox.com
Used under educational license.
In memory of Siska
Friend, daughter, angel
1997 – 2013
http:
www.colou
ox.com
COLALTA PIPELINE
AN EXTERNAL AUDITING SIMULATION
3
TABLE OF CONTENTS
INSTRUCTIONS .............................................................................................................................. XXXXXXXXXX4
INTRODUCTION AND OVERVIEW ............................................................................................ XXXXXXXXXX5
NATURAL GAS .............................................................................................................................. XXXXXXXXXX5
COMPANY HISTORY .................................................................................................................... XXXXXXXXXX6
BUSINESS OPERATIONS .............................................................................................................. XXXXXXXXXX7
MANAGEMENT AND EMPLOYEE PROFILES .......................................................................... XXXXXXXXXX8
Task 1 – Audit Preparation ............................................................................................................. XXXXXXXXXX12
Task 2 A – Process Review / Testing of Controls .......................................................................... XXXXXXXXXX17
Task 2 B – Document Review / Testing of Details ........................................................................ XXXXXXXXXX22
APPENDIX 2 – UNAUDITED FINANCIAL STATEMENTS (Task 1) ...................................... XXXXXXXXXX21
APPENDIX 3 – TRANSCRIPTS OF INTERVIEWS WITH COLALTA PERSONNEL (Task 2 A XXXXXXXXXX
APPENDIX 4 – SOURCE DOCUMENTS FOR TESTING OF CONTROLS RELATED TO ..... XXXXXXXXXX28
APPENDIX 5 – SOURCE DOCUMENTS FOR SUBSTANTIVE TESTING OF ACCOUNTS PAYABLE
(Task 3) ........................................................................................................................................... XXXXXXXXXX29
APPENDIX 6 – LETTER FROM THE PRESIDENT ................................................................... XXXXXXXXXX30
ACKNOWLEDGEMENTS ............................................................................................................ XXXXXXXXXX31
REFERENCES .................................................................................................................................