ACCT 101 Saudi Electronic University Principles of Accounting Worksheet

Please view explanation and answer below.Assignment completed

College of Administrative and Financial Sciences

Assignment 2
Deadline: 18/2/2023@ 23:59
Course Name: Principles of Accounting

Student’s Name:

Course Code: ACCT 101

Student’s ID Number:

Semester: II

CRN:
Academic Year: 1444 H

For Instructor’s Use only
Instructor’s Name:
Students’ Grade: / 15

Level of Marks: High/Middle/Low

Instructions – PLEASE READ THEM CAREFULLY
• The Assignment must be submitted on Blackboard (WORD format only) via allocated
folder.
• Assignments submitted through email will not be accepted.
• Students are advised to make their work clear and well presented; marks may be
reduced for poor presentation. This includes filling your information on the cover page.
• Students must mention question number clearly in their answer.
• Late submission will NOT be accepted.
• Avoid plagiarism, the work should be in your own words, copying from students or
other resources without proper referencing will result in ZERO marks. No exceptions.
• All answered must be typed using Times New Roman (size 12, double-spaced) font.
No pictures containing text will be accepted and will be considered plagiarism).
• Submissions without this cover page will NOT be accepted.
1

Assignment Question(s):

(Marks15)

Q1. Suppose you are an auditor who has been tasked with looking into the internal
controls at a company. How can you evaluate the company’s internal controls to see if
they are sufficient?
(5Marks)
Solution:
Ways that an auditor can incorporate in their audit process to evaluate if company
internal controls are sufficient and adhered to by employees.
1. Assessment of risks: This is where one will be need to evaluate the company’s risks that
could pose a threat to the company. This will involve analyzing any non-compliance, fraud,
or error occurrence cases.
2. Analysis of policies and procedures: An a…