Audit Group
This semester I am taking Audit for my accounting class. Within the class, our professor split us into groups of three. The groups will work on various projects throughout the semester just like an audit team. Our first project is due this Friday. We have been learning the planning phase of the audit. Our professor assigned us to audit a corporation at the end of the year where they failed to record inventory, reverse a sales transaction, and failed to accrue interest expense. We as auditors pretended to create a spreadsheet with recommended journal entries to fix the errors. We then proceeded to write a conclusion with our findings. I did not mind this work paper. It was actually fun to work on it.
