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Control Risk Matrix for Acquisitions

The document contains control risk matrices for acquisitions and cash disbursements at Pinnacle Manufacturing. For acquisitions, it lists audit objectives related to existence, completeness, accuracy, classification, and timing. It then has blank sections for internal controls, weaknesses, and assessed control risk. The cash disbursements matrix follows the same format and lists similar audit objectives.

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Jhorghe Gonzalez
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© Attribution Non-Commercial (BY-NC)
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564 views4 pages

Control Risk Matrix for Acquisitions

The document contains control risk matrices for acquisitions and cash disbursements at Pinnacle Manufacturing. For acquisitions, it lists audit objectives related to existence, completeness, accuracy, classification, and timing. It then has blank sections for internal controls, weaknesses, and assessed control risk. The cash disbursements matrix follows the same format and lists similar audit objectives.

Uploaded by

Jhorghe Gonzalez
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd

10-35

PINNACLE MANUFACTURING - Part III


Control Risk Matrix – Acquisitions

Transaction-Related Recorded Existing Recorded Acquisition Acquisition Recorded


Audit Objective acquisitions acquisition acquisition transactions transactions acquisition
are for trans- transactions are properly are recorded transactions are
goods and actions are are stated at classified on the correct properly included in
services recorded the correct (classifica- dates the master files, and
received (complete- amounts tion). (timing). are properly
(existence). ness). (accuracy). summarized (posting
and summarization).
Internal
Controls*

1.

2.

3.
3.

4.

5.

6.

7.

8.

9.

Weaknesses*
1.

2.

3.
PINNACLE MANUFACTURING - Part III
Control Risk Matrix – Acquisitions

Assessed control risk

* Note: This is a standard form to be used by students. There aren't necessarily 9 controls and 3 weaknesses in the case.
10-35

PINNACLE MANUFACTURING - Part III


Control Matrix – Cash Disbursements

Transaction-Related Recorded cash Existing cash Recorded Cash Cash Recorded cash
Audit Objectives disbursements disbursement cash disbursement disbursement disbursement
are for goods transactions disbursement transactions transactions transactions are
and services are recorded transactions are properly are recorded properly included in
actually (complete- are stated at classified on the correct the master file and are
received ness). the correct (classification). dates (timing). properly summarized
(existence). amounts (posting and
(accuracy). summarization).
Internal
Controls*

1.

2.

3.

4.

5.

6.

7.

8.

9.

Weaknesses*
1.

2.

3.
PINNACLE MANUFACTURING - Part III
Control Matrix – Cash Disbursements

Transaction-Related Recorded cash Existing cash Recorded Cash Cash Recorded cash
Audit Objectives disbursements disbursement cash disbursement disbursement disbursement
are for goods transactions disbursement transactions transactions transactions are
and services are recorded transactions are properly are recorded properly included in
actually (complete- are stated at classified on the correct the master file and are
received ness). the correct (classification). dates (timing). properly summarized
(existence). amounts (posting and
(accuracy). summarization).
Internal
Controls*

1.

Assessed control risk*

* Note: This is a standard form to be used by students. There aren't necessarily 9 controls and 3 weaknesses in the case.

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