For this exercise, your client, Bright IDEAs Inc., has providedyou with data for two related files, a listing of sales invoices,and a listing of customers with credit limits. To test whethercredit authorization controls are in place, the auditor mustcomplete a series of related steps.
1. Import the client’s database of salesinvoices (pp. 28-45 of the IDEA Workbook).
2. Summarize the Accounts Receivable balance bycustomer (pp. 67-69 of the IDEA Workbook).
3. Import the client’s customer credit limitdata into IDEA (pp. 70-79 of the IDEA Workbook).
4. Join the Accounts Receivable balances bycustomer with the credit limit data (pp. 80-87 of the IDEAWorkbook).
5. Extract customers with exceeded creditlimits (pp. 88-89).
Required Data Files:
IDEA Data Analysis Workbook
ACC_REC2015.ACCDB
CUSTOMER.TXT
Required:
Complete all of the related steps shown above using IDEA. Aftercompleting each step, answer the following questions.(Enter your answers exactly as they appear inIDEA.)
a. How many customers were granted credit withno indication that they had any credit limit assigned to them?
b. How many customers exceeded their creditlimit?
c. Determine which accounts and assertions weremost likely influenced by your findings in (a) and (b).
