Before a firm establishes sourcing relationship with a supplier for repeated purchase, firms often pre-audit the supplier to ensure that the supplier is in healthy financial status and has the capability to comply with the supply contracts. The audit process is very involved. The first phase of the audit involves obtaining "knowledge of the business." This phase of the audit requires the activities listed below.

Questions:
Draw the project network and implement the network model in the provided template to figure out the minimum number of days needed to complete the first phase of the audit.

Now that Assume that the first phase must be completed within 40 days.  Modify the model in part a (in a separate workbook) to figure out the plan for project crashing.

Please show solver to complete this assignment 

Transcribed Image Text:

A BCDEFG Determine terms of engagement Appraisal of auditability risk and materiality Identification of types of transactions and possible errors Systems description Verification of, systems description Evaluation of internal controls Design of audit approach Preds. A ACDBF B, E Duration (days) 3 6 14 8 4 8 9 A BCDEFG Determine terms of engagement Appraisal of auditability risk and materiality Identification of types of transactions and possible errors Systems description Verification of, systems description Evaluation of internal controls Design of audit approach Preds. A ACDBF B, E Duration (days) 3 6 14 8 4 8 9

Answer rating: 100% (QA)

Here is the project network for the first phase of the audit A B C D E F G 3 6 14 8 4 8 9 The following is the meaning of the networks nodes and arrow... View the full answer