Question: PC-5.1: Use language that is clear, concise, and organized. The Unit 5 Assignment contains professional simulation, which allow you to examine steps in auditing the

PC-5.1:Use language that is clear, concise, and organized.

The Unit 5 Assignment contains professional simulation, which allow you to examine steps in auditing the revenue, expenditures, and the production and personnel services cycle.

Directions:Compose your Assignment in a Word document and save it as Username AC503 Assignment Unit#.doc (Example: TAllen AC503 Assignment Unit 5.doc).

Chapter 15:You will find this assignment located at the end of Chapter 15 (Professional Simulation)

You have just been assigned to the audit of a new manufacturing client, Carroll Manufacturing Inc. (CMI) and the in-charge accountant on the engagement. CMI manufactures automobile engines which are sold to several automotive companies. CMI purchases raw steel and cast iron. CMI does its own tool and die work, but it still purchases a number of parts related to carburetion and ignition systems.

You will identify the appropriate assertion (listed in the simulation) for each of the internal controls. Check all that apply ---Note: Please go to the textbook at the end of the chapter to complete and view all information related to this assignment (Professional Simulation)

Determine the audit procedure (listed in the simulation) that best addresses the risks.Note: Please go to the textbook at the end of the chapter to complete and view all information related to this assignment (Professional Simulation)

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