Assessing Internal Controls: A Bullseye Audit

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Bullseye Audit
Alvin Smith
ACCT 400
December 28, 2014
Dr. Stanley Helm

Bullseye Audit To management of Bullseye, my name is Alvin Smith and it gives me great pleasure to be performing this year’s audit of your company. With help of four additional colleagues and an IT professional to assist me in performing this year’s audit I feel confident that it will be a smooth efficient audit. I have taken the time to review last year’s audit and made note of the minor problems dealing with human error and also noted that correction have been made. Because of this problem I would like to start my review here to test the controls for eliminating human errors. The IT specialist will be reviewing the internal controls of your electronic systems and …show more content…

An audit of Bullseye internal control over financial report as of FY 2014 was also conducted based on criteria established by the internal control and integrated framework of the committee sponsoring organization. Bullseye management is overall responsible for these financial statements and maintains effective internal control over the financial reporting, along with its effectiveness of internal control.
Responsibility of express opinion of these financial controls and statements within its internal control of such reports. This firm conducted the audit in accordance with PCAOB standards of the United States, which require the plan and performance of an audit for reasonable assurance that those financial statements are both free of material misstatement and that effective controls are in place and maintained to eliminate those misstatements. Our audit of financial statements included examination and testing of internal controls, inventory, payroll, deposits and withdrawals, along with receipts and payments. These evaluation gave the audit team an understanding of the internal procedures and controls when dealing with financial controls and statements, gave the audit team a reasonable basis for our

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