ACG 5637 Chapter Notes - Chapter 13: Property Management, Cash Flow, General Ledger
3 Dec 2020
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Document Summary
The property management process compromises the activities of acquiring, utilizing, and maintaining the organization"s base of long lived assets. The financial resource management process consists of activities for obtaining and managing cash flow and financial capital such as debt and equity. Internal threat analysis: the sources of process risks interact to influence the overall level of risks, the auditor should consider the interaction of risks when assessing the residual risks of a process. Analysis of internal control over financial reporting: controls related to planning and authorization are critical for successful and efficient property management. Evaluation of process performance indicators: these indicators can provide a source of evidence concerning risks in the property management process. Tests of financial statement assertions: property, plant equipment, intangible assets, and. The approach to testing property assertions is based on the assumption that beginning asset balances were previously audited then focuses on verifying current-year additions and disposals only.
