What specific audit procedures (processes, techniques or methods) would you follow to gain an understanding of the
Fantastic news! We've Found the answer you've been seeking!
Question:
What specific audit procedures (processes, techniques or methods) would you follow to gain an understanding of the food drive's nonfinancial controls? What specific audit procedures (processes, techniques or methods) would you follow to gain an understanding of the food drive's financial controls?
Transcribed Image Text:
Every year the mayor of Rinconia is the honorary chair of the Thanksgiving food drive. Service clubs, churches, schools, and local businesses are encouraged to bring donations of food and money to the local food bank for distribution to the needy. This year, a downturn in the economy coupled with the closure of a local factory has brought an even greater need for donations. Although the role as chair has historically been honorary, Mayor Irving is running for re- election in the spring primary, and has decided to take a more "hands-on" approach to the food drive. In addition to personally calling each of the local restaurants and grocery stores, she has spoken with the city planning director to get an update on the proposal for converting the now vacant factory building into a Big and Thrifty warehouse store. The controversial project has been sent back for redesign several times due to objections of the neighbors who are concerned about traffic, parking and the loss of business to existing retail stores. The mayor has pressed for action on the zoning approvals, and told the city planning staff, "I think I can get a hundred or so turkeys from Big and Thrifty if we expedite the approval. They won't be open for Thanksgiving, but if we 'fast track' the process they might be able to cash in on the Christmas holidays." When the regional manager for the warehouse chain was approached by the mayor and asked to donate 100 turkeys, they didn't think they had the option to say "no." In a memo to the president of the company, they wrote, "If we want to move ahead as fast as possible on converting the factory to a warehouse, it will cost us 100 turkeys. It's for a good cause, so I think we should do it, but I hope we don't get 'squeezed' like this in the future." In her thank you note to the warehouse chain, the mayor said, "Your generous donation has earned you a special place in our community. I look forward to working with you in the future." Every year the mayor of Rinconia is the honorary chair of the Thanksgiving food drive. Service clubs, churches, schools, and local businesses are encouraged to bring donations of food and money to the local food bank for distribution to the needy. This year, a downturn in the economy coupled with the closure of a local factory has brought an even greater need for donations. Although the role as chair has historically been honorary, Mayor Irving is running for re- election in the spring primary, and has decided to take a more "hands-on" approach to the food drive. In addition to personally calling each of the local restaurants and grocery stores, she has spoken with the city planning director to get an update on the proposal for converting the now vacant factory building into a Big and Thrifty warehouse store. The controversial project has been sent back for redesign several times due to objections of the neighbors who are concerned about traffic, parking and the loss of business to existing retail stores. The mayor has pressed for action on the zoning approvals, and told the city planning staff, "I think I can get a hundred or so turkeys from Big and Thrifty if we expedite the approval. They won't be open for Thanksgiving, but if we 'fast track' the process they might be able to cash in on the Christmas holidays." When the regional manager for the warehouse chain was approached by the mayor and asked to donate 100 turkeys, they didn't think they had the option to say "no." In a memo to the president of the company, they wrote, "If we want to move ahead as fast as possible on converting the factory to a warehouse, it will cost us 100 turkeys. It's for a good cause, so I think we should do it, but I hope we don't get 'squeezed' like this in the future." In her thank you note to the warehouse chain, the mayor said, "Your generous donation has earned you a special place in our community. I look forward to working with you in the future." Every year the mayor of Rinconia is the honorary chair of the Thanksgiving food drive. Service clubs, churches, schools, and local businesses are encouraged to bring donations of food and money to the local food bank for distribution to the needy. This year, a downturn in the economy coupled with the closure of a local factory has brought an even greater need for donations. Although the role as chair has historically been honorary, Mayor Irving is running for re- election in the spring primary, and has decided to take a more "hands-on" approach to the food drive. In addition to personally calling each of the local restaurants and grocery stores, she has spoken with the city planning director to get an update on the proposal for converting the now vacant factory building into a Big and Thrifty warehouse store. The controversial project has been sent back for redesign several times due to objections of the neighbors who are concerned about traffic, parking and the loss of business to existing retail stores. The mayor has pressed for action on the zoning approvals, and told the city planning staff, "I think I can get a hundred or so turkeys from Big and Thrifty if we expedite the approval. They won't be open for Thanksgiving, but if we 'fast track' the process they might be able to cash in on the Christmas holidays." When the regional manager for the warehouse chain was approached by the mayor and asked to donate 100 turkeys, they didn't think they had the option to say "no." In a memo to the president of the company, they wrote, "If we want to move ahead as fast as possible on converting the factory to a warehouse, it will cost us 100 turkeys. It's for a good cause, so I think we should do it, but I hope we don't get 'squeezed' like this in the future." In her thank you note to the warehouse chain, the mayor said, "Your generous donation has earned you a special place in our community. I look forward to working with you in the future." Every year the mayor of Rinconia is the honorary chair of the Thanksgiving food drive. Service clubs, churches, schools, and local businesses are encouraged to bring donations of food and money to the local food bank for distribution to the needy. This year, a downturn in the economy coupled with the closure of a local factory has brought an even greater need for donations. Although the role as chair has historically been honorary, Mayor Irving is running for re- election in the spring primary, and has decided to take a more "hands-on" approach to the food drive. In addition to personally calling each of the local restaurants and grocery stores, she has spoken with the city planning director to get an update on the proposal for converting the now vacant factory building into a Big and Thrifty warehouse store. The controversial project has been sent back for redesign several times due to objections of the neighbors who are concerned about traffic, parking and the loss of business to existing retail stores. The mayor has pressed for action on the zoning approvals, and told the city planning staff, "I think I can get a hundred or so turkeys from Big and Thrifty if we expedite the approval. They won't be open for Thanksgiving, but if we 'fast track' the process they might be able to cash in on the Christmas holidays." When the regional manager for the warehouse chain was approached by the mayor and asked to donate 100 turkeys, they didn't think they had the option to say "no." In a memo to the president of the company, they wrote, "If we want to move ahead as fast as possible on converting the factory to a warehouse, it will cost us 100 turkeys. It's for a good cause, so I think we should do it, but I hope we don't get 'squeezed' like this in the future." In her thank you note to the warehouse chain, the mayor said, "Your generous donation has earned you a special place in our community. I look forward to working with you in the future."
Expert Answer:
Answer rating: 100% (QA)
Audit Procedures for Rinconias Thanksgiving Food Drive NonFinancial Controls 1 Understanding the Environment Review historical information Analyze past food drives to understand donation trends volunt... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
Crisis de jour! Our director is not cooperating. And, where is the money going? I would like to be able to act rather than react. We must keep the place open! Sarah, chair of the Sunshine Center...
-
This case was written by Professor Michele Greenwald, Visiting Professor of Marketing at HEC Paris, for use with Advertising and Promotion: An Integrated Marketing Communications Perspective 7th...
-
The post-closing trial balances of two proprietorships on January 1, 2010, are presented below. Patrick and Samuelson decide to form a partnership, Pasa Company, with the following agreed upon...
-
Use the following graph to answer the following questions about Jill Johnson's isoquant curve. a. Which combination of inputs yields more output: combination A (3 ovens and 2 workers) or combination...
-
Figure 41.23 shows that the ionization energy of cadmium (Z = 48) is larger than that of its neighbors. Why is this? Ionization energy (eV) 25 Ne 20- A Kr 15 Zn Cd HBe 10- Mg Li Na Rb Cs K z- 60 20...
-
What is the primary purpose of admission-seeking questions?
-
The management of Kunkel Company is considering the purchase of a $40,000 machine that would reduce operating costs by $7,000 per year. At the end of the machines eight-year useful life, it will have...
-
6. For the following code fragment, what are the values of the array elements after the statements are executed? int[] T = {2, 2, 2, 3, 3, 3}; for (int i = 1; i < T.length; i++) { T[i] = (T[i-1] +...
-
Joseph Berio is a loan officer with the First Bank of Tennessee. Red Brick, Incorporated, a major producer of masonry products, has applied for a short-term loan. Red Brick supplies building material...
-
Suppose this morning SPB Ltd., a solar panel and battery manufacturing company, paid a dividend of $5 per share. At 10 a.m. SPB announced its latest earnings results (which were unexpectedly good)...
-
Company A owns 100% of Company T. Provided below are the sales of Company T and the consolidated group for the past 3 years. Year 1 Year 2 Year 3 Company T Sales 500 800 1,200 Consolidated Sales 800...
-
An FCC iron-carbon alloy has an initial uniform carbon concentration of 0.25 wt% C. The alloy is carburized at 950 C and in an atmosphere that gives a constant surface carbon concentration constant...
-
John Whitten is one of the physicians on staff at Metropolis Health System. His practice is six years old. He has set up an office savings account to accumulate the funds to replace equipment in his...
-
You are using the Adjusted Present Value approach to value the Greenside Co., and you have determined that the value of the unlevered firm is $22,105,137. You calculate the projected interest tax...
-
1. A bag contains 8 red marbles, 8 white marbles, and 8 blue marbles. What is the minimum number of marbles you have to choose randomly from the bag to ensure that we get 3 marbles of same color? 2....
-
PipeQueen Ltd was founded by Mary and Saba 10 years ago. The company specialises in manufacturing PVC pipes. Over the years, PipeQueen Ltd has expanded from one production line with only one working...
-
In Exercises 1558, find each product. (9 - 5x) 2
-
Ontario Drapers supplies custom-fitted curtains and blinds to retail customers. It has recently expanded to offer a wide variety of home decorating products through its six stores across the...
-
Explain how the nature of a substantive test could affect decisions about when and how much substantive testing is performed. How do these decisions relate to the overall risk assessment for the item...
-
Why does an auditor need to understand a client's IT system? Explain how IT affects the financial statements.
-
Because of the negative incentive effect that taxes have on goods with elastic supply, in the late 1980s Margaret Thatcher (then prime minister of Great Britain) changed the property tax to a poll...
-
Many of the buildings in Paris have Mansard roofs, such as those shown in the photograph on page 147. a. What property tax structure would bring this about? b. Could you imagine a change in the...
-
On September 29, 2008, the stock market fell almost 7%. How can we reconcile these kinds of huge losses in the stock market with the efficient market hypothesis?
Study smarter with the SolutionInn App