Pt2
Updated: 9/24/2020
Pt2

Storyboard Text

  • ZOOM
  • Call with:OwnerMeeting is being recorded
  • Call with:EmployeeMeeting is being recorded
  • ZOOM
  • ZOOM
  • Call with:EmployeeMeeting is being recorded
  • Owner: Okay I agreeAudit Partner: We can start next week.
  • ZOOM
  • Call with:EmployeeMeeting is being recorded
  • Audit Partner: When you need a transaction approved, what is the process?Employee: I enter the purchase into the register, check the payment details, print out the receipt, put it in the receipt book and pass the picking slip to the warehouse team. This is then posted out on the next business day. For returns the person who is handling the return will process it.
  • ZOOM
  • Call with:EmployeeMeeting is being recorded
  • Audit Partner: What are the access controls like - such as passwords, locks on doors etc.Employee: Most of us just share the same password and we don’t lock the doors as it’s too much of a hassle to give keys to everyone.
  • Audit Notes:Control & Inherent risk is highthereforeAdopt a more substantive approach
  • Audit Partner: What is the employee screening and training process like?Employee: Honestly, the training is quite brief, only one or two days and I just got trained by another casual employee. The turnover rate is pretty high too.
  • Employee: We are still receiving the same hourly pay that we were before the pandemic as the company is not eligible for JobKeeper.
  • Audit Partner: Based on our findings, what type of audit strategy do you think we should use?Junior Auditor: Because control risk and inherent risk is high, we should adopt a more substantive approach and test transactions/account balances.
Over 15 Million Storyboards Created
Storyboard That Family