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2 Year

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Company Sales Data
Month
2017 January
2017 February
2017 March
2017 April
2017 May
2017 June
2017 June
2017 August
2017 September
2017 October
2017 November
2017 December
2018 January
2018 February
2018 March
2018 April
2018 May
2018 June
2018 July
2018 August
2018 September
2018 October
2018 December
Unit
Sales
6,000
4,500
4,500
3,000
3,000
1,500
1,500
3,000
4,000
5,000
6,000
7,500
6,250
5,000
6,000
3,500
2,500
2,000
3,000
3,000
4,500
5,200
8,000
Average
Price
Sales
Dollars
9.99 $
12.49 $
14.99 $
16.99 $
17.99 $
14.99 $
14.99 $
17.49 $
19.99 $
19.99 $
17.49 $
14.99 $
8.49 $
E
12.99 $
12.99 $
17.49 $
16.49 $
14.99 $
10.99 $
10.99 $
19.49 $
21.49 $
13.99 $
59,940
56,205
67,455
50,970
53,970
22,485
22,485
52,470
-79,960
99,950
104,940
112,425
53,063
64,950
950
61,215
41,225
29,980
32,970
32,970
87,705
111,748
111,920

What needs to be audited?

1 Answer

5 votes

Final answer:

An audit of the company sales data should look for errors in calculations, duplications, and ensure that the data follows logical trends, also comparing it with external benchmarks or industry standards.

Step-by-step explanation:

To determine what needs to be audited in the provided company sales data, one should look for any inconsistencies or errors in unit sales, average price, total sales dollars, and any patterns or trends that seem irregular. An audit should verify the correctness and completeness of the data. This includes validating the calculation of sales dollars (unit sales multiplied by average price), checking for duplication (such as the two entries for 2017 June), and ensuring that the data follows logical trends (such as increases or decreases in sales that correlate with seasonal trends or market activities).

Comparison with external benchmarks or industry standards could also be part of the audit process. In this case, the company's monthly sales data from 2017 and 2018 would be scrutinized. If auditing financial data like total revenue or costs, one would also ensure that the reported figures align with accounting standards and the company's financial reporting framework.

User Ehoffmann
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