Assertion TechWear Part 3: Audit data analysis planning template What could go wrong? Auditing objectives WWWmum Existence (given) Amounts reported in the financial statements represent valid receivables. An order is placed and a receivable is recorded without any product being shipped. Mitigating controls Debits to accounts receivable are only generated from the order entry system. A shipping number and FedEx identification number are entered into the system as evidence of order fulfillment and discrepancies are investigated. Data analysis auditing procedures Compare debits to accounts receivable against recorded sales. Review and test subsequent receipts. Evaluate proper segregation of duties by examining postings by source and preparer (e.g., sales only entered by authorized salesclerk). Verify that every sales transaction has a shipping number and FedEx identification number. Analyze gross margin percentage trends by month and by customer. Data requirements Sales amounts Cash receipt amounts Customer names "ransaction dates "ransaction numbers General ledger postings by preparer and source (e.g.. order entry} Customer names Transaction numbers Shipping numbers FedEx ID numbers Sales amounts Cost of goods sold amounts Transaction dates Completeness