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ACKNOWLEDGMENT
This internal control study is made possible with the combined efforts of
the members of the group. The members would like to acknowledge the
different people and entities who became part of the realization of the
members goal, each of these people generously shared their guidance and time
to the members. In particular, the members would like to thank the following:
and wisdom to the student auditors in order to face all the challenges
Leovic J. Ancheta and Engr. Melchor P. Dorao, for their trust and
and also for their hospitality to the members despite their schedules.
To the adviser, Mrs. Merish Dinah A. Rebuldela, CPA, MBA, for her
2
To the student auditors peers, who gave them solace and succor to
DEDICATION
3
SCOPE AND DELIMITATION
4
observation, inquiry and inspection to provide reasonable assurance in giving
This study gave emphasis only in one activity of the cooperative which is
TABLE OF CONTENTS
Title Page..i
Acknowledgement.ii
Dedication..iii
Table of Contents.....v
List of Figures..vii
List of Tables...viii
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Audit Plan..ix
I. Brief History..2
I. Internal Control.10
A. Control Environment..11
B. Risk Assessment..22
D. Control Activities..24
E. Monitoring.....27
C. Payroll Cycle.39
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APPENDICES......
A. Endorsement Letter..
B. Engagement Letter...
C. Documents..
D. Documentations..
E. Questionnaires.
Curriculum Vitae
LIST OF FIGURES
7
Figure Title Page
8
LIST OF TABLES
1 Audit Plan.....ix
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Audit Plan
Subject Matter:
Cooperative.
10
Involved
November To search for a Find a All Php 80.00
the study of
their internal
control.
November To finish, submit Give the All Php
Company
Business
Operations
11
(Chapter 2).
January To gather All Php
Company Profile
and Business
Operations.
January To search for a Find a All Php
the study of
their internal
control.
January To distribute Give the All Php 50.00
interview.
January To gather Interview the All Php 70.00
12
24, 2017 information for manager,
Operations.
January To be able to Able to finish All Php
(Chapter 1) and
Company
Business
Operations
(Chapter 2) of the
study.
February To be able to Able to finish All Php
(Chapter 3) and
Conclusion and
Recommendation
s (Chapter 4) of
the study.
February To be able to Able to finish All Php 50.00
13
of the study.
February To be able to Finalized the All Php 50.00
study.
February To be able to Able to All Php
14