Lesson 10 assignment – idea exercise 3


Submit your Lesson 10 IDEA Assignment through the above link.

Introduction to Lesson 10 IDEA Assignment

You will use IDEA to perform one test of control and one substantive procedure.

Your Tasks:

Your client has an internal control activity that requires the company to approve a sale transaction only when a customer has sufficient credit. Auditors plan to perform a test of control to see if the control was properly implemented and there was no exception (=the case where a sale transaction occurred to a customer who had already exceeded the credit limit).

Complete Problem 7.78 in the textbook and submit the following (in a Word document):

  1. Answer for Question a. and b. in ‘Required’ questions.
  2. Screenshots of IDEA that support your answers for Question a. and b.

Guide to IDEA workbook: 

1. Problem 7.78 Step 1: Exercise 2A, 2B, 2C, 2D and 2E in the IDEA workbook

2. Problem 7.78 Step 2: Exercise 2K*

* Note: As we skipped Exercise 2J, you will find that the dataset does not have ‘Net’ field that is mentioned in the workbook. You can ignore it for the purpose of this exercise.

3. Problem 7.78 Step 3: Exercise 2L guides you to convert the ‘customer.txt’ to IDEA database, but to save time and effort, I will provide you the Excel version of the customer file so that you can skip the process of importing the text file and convert it to the IDEA table. Simply import the file into IDEA just as you did for Lesson 5 (IDEA Exercise #1). Name the database ‘Customer Master’ after importing the Excel file. Click here to obtain the Excel file

4. Problem 7.78 Step 4: Exercise 2L 

5. Problem 7.78 Step 5: Exercise 2L 

Due Date and Grading

Upload your completed assignment to Blackboard by next Monday, 11:59 PM, ET. You will be graded on the basis of accuracy and completion.

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