Explain How You Would Conduct The Audit Process

Describe how you would conduct the audit process, incorporating the analytical procedures you would use to investigate a selected business transactions.

In order to conduct an audit process and evaluate Amazon.com, inc., must be reviewed financial and none financial data for the main customers’ components, such as: Amazon Marketplace, Amazon Prime and electronics. The purpose of this project as an audit is to provide the independent and objective assurance that operations within the company satisfy GAAP requirements. For each component we need to consider the following factors: nature, timing and extent.

Evaluation will include the current and prior industry data as well as analytical procedure based on the client determined expected results. The financial data from previous years will be used in order to support the decision. The examination will include the review of cash, tangible fixed assets, securities, notes receivable and

Also it is very important to see within these areas if company has the accurate audit trail by tracking the financial data from the general data to the source of the financial transaction with specific documentation.

What would your plan be to utilize these procedures?

In order to utilize these procedures the audit must cross-reference the accounting system within each service industry by evaluating the data and how does it entered. By completing the basic audit of the financial statements it is possible to see if the account balances are correctly recorded. In this case the audit must review completeness, presentation and disclosure, existence or occurrence, valuations or allocation, right and obligations.

Explain the appropriate fields work needed to review high-risk business transactions for cash and