IDEA Journal Entry Control Exercise

Exercise background

The engagement team $($ET$)$ is auditing a multi$-$national consumer goods company. The ET has substantially completed the planning process and performed planning analytics with preliminary amounts obtained from the client. The period being audited is January $1^{st},2018-$ June ${30}^{th},2018.$

The ET has already received the journal entry population for the fiscal year. This population has been provided in the form of an IDEA database $($IDEA$\_$CS$\_$JES$).$ For purposes of this exercise the completeness and accuracy of the population provided has already been tested and no exceptions were noted.

Through initial walkthroughs the audit team has determined the USERNAME field to be the one that identifies who posts the respective entry. The engagement team has also found through walkthroughs of the process that the $C-$Suite executives only have the ability to manually approve entries in certain situations and should not be a part of the normal course of business for posting journal entries within the system. The audit team has identified this as a key control and they want to ensure C$-$Suite executives did not post journal entries.

To access the journal entry population for the fiscal year, which has been provided in the form of an IDEA database $($IDEA$\_$CS$\_$JES$),$ follow the below steps in the MADA Cloud:

$1$ Navigate to Datasets $$ IDEA $$ JE $$ IDEA$\_$CS$\_$JES $$ and copy the "IDEA$\_$CS$\_$JES" IDEA Document file

$2$ Navigate to Your MADA Cloud Username $H$ drive $$ create a new folder titled "IDEA Journal Entry Control Exercise" $$ paste the "IDEA$\_$CS$\_$JES" file

$3$ On the MADA Cloud desktop, double click on the IDEA program

$4$ Click on the "IDEA$\_$CS$\_$JES" IDEA Document file on your $H$ drive and drag it into the grey area of the IDEA Program