ACL Assignments Overview
The ACL bundled software comes with a tutorial, which is a PDF file entitled, “ACL in
Practice.” The tutorial contains 7 Chapters and utilizes the sample data files that are included
with the ACL software. In addition to the exercises imbedded within the ACL in Practice, the
Messier/Glover/Prawitt team has created ACL problems for each chapter. The problems
associated with Chapters 1 and 2 relate to the tutorial data files. A new data set entitled Roger
Company, created for Messier/Glover/Prawitt, is introduced in Chapter 3. The Roger Company
data set is used to solve the ACL end-of-chapter problems for Chapters 3-21, which are more
focused on auditing concepts than are the exercises included in the tutorial.
Each of the Chapters in the ACL in Practice file are matched with the Messier/Glover/Prawitt
textbook Chapters 1 through 7. However, with a good understanding of ACL in Practice
Chapters 1 – 4 (the PDF tutorial bundled with the software), students can successfully complete
the ACL end-of-Chapter problems for Chapters 1 – 10 of the Messier/Glover/Prawitt textbook.
The ACL in Practice Chapters 1-4 can be assigned independent of Messier/Glover/Prawitt
textbook Chapters 1-4. For example, if an instructor would like to assign ACL end-of-Chapter
problems for Chapter 6 of the Messier/Glover/Prawitt textbook, he or she would need to assign
ACL in Practice Chapters 1-4 any time prior to assigning the ACL end-of-Chapter problems
associated with Chapter 6 of the textbook. Students generally require between 1 ½ to 2 ½ hours
to complete Chapters 1-4 of the ACL in Practice.
Certain ACL problems at the end of Chapters 11-21 require an understanding of the concepts and
skills that are taught in ACL in Practice Chapters 5 – 7. The problems that require completion
of tutorial(s) beyond ACL in Practice Chapter 4 are so indicated within the problems.
Jump to specific Chapter
(Hold down the CTRL key and click on a link below)
Chapter 1
Chapter 8
Chapter 15
Chapter 2
Chapter 9
Chapter 16
Chapter 3
Chapter 10
Chapter 17
Chapter 4
Chapter 11
Chapter 18
Chapter 5
Chapter 12
Chapter 19
Chapter 6
Chapter 13
Chapter 20
Chapter 7
Chapter 14
Chapter 21
The McGraw-Hill Companies, Inc., 2012
ACL Assignments
ACL-1
Chapter 1 ACL Exercises and Problems
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For technical assistance with ACL, please contact technical support: 604-669-4225; info@acl.com;
http://www.acl.com/supportcenter/
Tutorial Assignment (Estimated time to complete tutorial Chapter 1 is 15-20 minutes)
Read Chapter 1: Introducing Metaphor Corporation of the ACL in Practice
(Note: ACL software is bundled with each copy of the textbook. Insert the ACL disk and follow
the instructions to install the software.)
To access the ACL in Practice:
1. After installing ACL, open the Start Menu on your computer
2. Click All Programs
3. Find the “ACL Desktop Education Edition” folder icon
4. Single click or place your mouse on the “ACL Desktop Education Edition” folder
icon to display the folder contents (i.e., ACL Desktop Education Edition, ACL Help,
ACL in Practice, ACL Utility, Readme).
5. Click on “ACL in Practice” to open the tutorial
6. Alternatively, you can navigate directly to the file, ACL_in_Practice.pdf, in the folder
where ACL data and the tutorial are saved on your hard drive (e.g., C:\ACL
Data\Sample Data Files)
(Note: Unless otherwise instructed, please submit your answers to the following problems to
your instructor in a word processing document.)
Messier/Glover/Prawitt End-of-Chapter 1, ACL Problems
Problem 1
Briefly describe Metaphor’s credit card policy.
Problem 2
Looking at Figure 1-3 in Chapter 1 of your auditing textbook, during which stages of the
“financial statement audit process” might ACL be the most useful?
Problem 3
Go to the ACL internet website by opening ACL Desktop Education Edition and clicking on
ACL Homepage under ACL Weblinks. While on the website, click on ACL Solutions under the
Solutions tab. Read that page and explain how ACL can help in an audit.
The McGraw-Hill Companies, Inc., 2012
ACL-2
Auditing & Assurance Services, 8/e
Chapter 2 ACL Exercises and Problems
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For technical assistance with ACL, please contact technical support: 604-669-4225; info@acl.com;
http://www.acl.com/supportcenter/
Tutorial Assignment (Estimated time to complete is tutorial Chapter 2 is 20-30 minutes.)
Read and complete the tasks in Chapter 2: Examine Employee Data of the ACL in Practice file.
Hint: Staying actively involved while completing the tutorial assignment will help you to
complete the ACL problems more efficiently. You may find it helpful to review the assigned
problems before completing the ACL in Practice assignment.
To access the ACL in Practice:
1. After installing ACL, open the Start Menu on your computer
2. Click All Programs
3. Find the “ACL Desktop Education Edition” folder icon
4. Single click or place your mouse on the “ACL Desktop Education Edition” folder
icon to display the folder contents (i.e., ACL Desktop Education Edition, ACL Help,
ACL in Practice, ACL Utility, Readme).
5. Click on “ACL in Practice” to open the tutorial
6. Alternatively, you can navigate directly to the file, ACL_in_Practice.pdf, in the folder
where ACL data and the tutorial are saved on your hard drive (e.g., C:\ACL
Data\Sample Data Files)
7. Complete the tasks in the ACL in Practice, Chapter 2
(Note: Unless otherwise instructed, please submit your answers to the following exercises and
problems to your instructor in a word processing document.)
Chapter 2 Tutorial Exercises: 1-5
There are five exercises at the end of the Chapter 2 tutorial from the ACL in Practice file (PDF
file that is bundled with the software). Your instructor will inform you which, if any, of the
exercises to complete and submit.
Messier/Glover/Prawitt End-of-Chapter 2, ACL Problems
Problem 1
Create a filter to display the employees at Metaphor Company that were hired after January 1,
2000 and who make $60,000 per year or more in salary. How many records result from the filter
described? Include the expression you used to create the filter in your solution.
Problem 2
Use ACL to compute how much was paid in commissions to Metaphor Agents (Comm 2002
column, Agents_Metaphor table).
Problem 3
How does computing the amount paid in commissions to Metaphor agents in Problem 2 help an
auditor verify the management assertion of completeness?
The McGraw-Hill Companies, Inc., 2012
ACL Assignments
ACL-3
Chapter 3 ACL Exercises and Problems
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For technical assistance with ACL, please contact technical support: 604-669-4225; info@acl.com;
http://www.acl.com/supportcenter/
Tutorial Assignment (Estimated time to complete the Chapter 3 tutorial is 20-30 minutes.)
Read and complete the tasks in Chapter 3: Set up Your Project of the ACL in Practice file.
Hint: Staying actively involved while completing the tutorial assignment will help you to
complete the ACL problems more efficiently. You may find it helpful to review the assigned
problems before completing the ACL in Practice exercises.
For instructions on accessing the ACL in Practice please see earlier assignments.
(Note: Unless otherwise instructed, please submit your answers to the following exercises and
problems to your instructor in a word processing document.)
Chapter 3 Tutorial Exercises: 1-2
There are two exercises within the Chapter 3 tutorial from the ACL in Practice file (PDF file
that is bundled with the software). Your instructor will inform you which, if any, of the
exercises to complete and submit.
Messier/Glover/Prawitt End-of-Chapter 3, ACL Problems
Problem 1
Edit the layout of the Employee_List table to form a new column for total compensation (salary
plus bonus). Now determine how many employees earned more than $85,000 in total
compensation in 2002.
Problem 2
Roger Company is a mid-size company located in the Midwest that handles the distribution of
various home and garden products. You are part of the engagement team assigned to audit the
financial statements of Roger Company. Roger Company has been a client of your firm for many
years, and your firm has rarely encountered any problems with them. However, the engagement
partner has made it very clear to you that there is no room for mistakes. Your tasks as one of the
auditors on the engagement are outlined below and in other problems of the remaining chapters.
Please download the Roger Company ACL files, found under Course-Wide Content on the
Student Edition of your text’s Online Learning Center. The Roger Company files are
already in ACL format; however the files must first be “unzipped.” After unzipping the
files, click on FILE from the menu toolbar and use the OPEN PROJECT command to
navigate to where you have saved the “Roger Company 8e” file and open the project.
Net income before taxes at Roger Company is stable, predictable, and representative of its size.
Thus, the auditors at Roger Company calculate materiality to be 5 percent of net income before
taxes. Net income before taxes at Roger Company for fiscal 2011 is $1,388,500. Determine
materiality for the audit of Roger Company’s 2011 financial statements. Use ACL to determine
The McGraw-Hill Companies, Inc., 2012
ACL-4
Auditing & Assurance Services, 8/e
if the reported AR account balance, $487,000, is materially different from the detailed files in
Rogers_Company_AR table. Define tolerable misstatement as 60 percent of materiality. What
might cause differences between the number reported in the financial statements and the details
in the file?
Problem 3
As a quality control procedure, management at Roger Company reviews each approved vendor at
least once a year. In the reviews, management compares pricing across vendors, retests products
being purchased from vendors to ensure they meet quality control standards, and performs
testing to ensure purchasing personnel are not inappropriately favoring a vendor or potentially
colluding with vendors (e.g., receiving kickbacks from the vendors). Use ACL to check the
Roger_Company_Vendors table to make sure each vendor has been reviewed sometime since
January 1, 2011.
1. Open the Roger_Company_Vendors table
2. Click on the Edit View Filter button to open the Edit view filter dialogue box
3.
4.
5.
6.
7.
8.
In the Available Fields list, double-click on the Last_Review field
Click on the “<” sign
Click on the Date button to display the date selector
Click on the down arrow, find January 1, 2011, click on it, and click OK
Click OK
Which vendors have not been reviewed since January 1, 2011? When was the last review
for those vendors?
The McGraw-Hill Companies, Inc., 2012
ACL Assignments
ACL-5
Chapter 4 ACL Exercises and Problems
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For technical assistance with ACL, please contact technical support: 604-669-4225; info@acl.com;
http://www.acl.com/supportcenter/
Tutorial Assignment (Estimated time to complete the Chapter 4 tutorials is 20-30 minutes.)
Read and complete the tasks in Chapter 4: Begin Your Analysis of the ACL in Practice file.
Hint: Staying actively involved while completing the tutorial assignment will help you to
complete the ACL problems more efficiently. You may find it helpful to review the assigned
problems before completing the ACL in Practice assignment.
For instructions on accessing the ACL in Practice please see earlier assignments.
(Note: Unless otherwise instructed, please submit your answers to the following exercises and
problems to your instructor in a word processing document.)
Chapter 4 Tutorial Exercises: 1-8
There are eight exercises at the end of the Chapter 4 tutorial from the ACL in Practice file (PDF
file that is bundled with the software). Your instructor will inform you which, if any, of the
exercises to complete and submit.
Messier/Glover/Prawitt End-of-Chapter 4, ACL Problems
As introduced above in the ACL problems for Chapter 3, Roger Company is a mid-size
company located in the Midwest that handles the distribution of various home and garden
products. You are part of the engagement team assigned to audit the financial statements of
Roger Company. Roger Company has been a client of your firm for many years, and your firm
has rarely encountered any problems with them. However, the engagement partner has made it
very clear to you that there is no room for mistakes. Your tasks as one of the auditors on the
engagement are outlined below and in other problems of the remaining chapters.
Please download the Roger Company ACL files, if you haven’t already. They are found
under Course-Wide Content on the Student Edition of your text’s Online Learning Center.
See instructions for opening the Roger Company files in the Chapter 3 assignment above.
Problem 1
Roger Company has a policy that their allowance for uncollectible accounts should be 50% of
the amount in the 60-90 day past due category plus 75% of the amount in the >90 day past due
category as of the reporting date (in this case December 31. Use the Roger Company AR table in
ACL and the Analyze >> Age command to re-compute the allowance for uncollectible accounts.
In addition to re-computing the allowance for uncollectible accounts, report the results of the
aging table that you are asked to complete.
1. Once in the Roger Company AR Table, click the Analyze drop down menu.
2. Click Age.
The McGraw-Hill Companies, Inc., 2012
ACL-6
Auditing & Assurance Services, 8/e
3. In the Age dialog box, click the Age On button and make sure Due_Date is the selected
field. Click OK
4. Change the cutoff date to December 31, 2011.
5. In the Aging Periods box, delete the numbers 10000 and 120 so that your table will
compute a >90 day past due total.
6. Highlight the Amount field under the Subtotal Fields column.
7. Click OK.
Problem 2
Assuming no cash is collected on past due accounts, how much will be more than 60 days past
due as of January 31, 2012?
The McGraw-Hill Companies, Inc., 2012
ACL Assignments
ACL-7
Chapter 5 ACL Exercises and Problems
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For technical assistance with ACL, please contact technical support: 604-669-4225; info@acl.com;
http://www.acl.com/supportcenter/
Tutorial Assignment (Estimated time to complete is 30-40 minutes.)
Read and complete the tasks in Chapter 5: Examine Expense Patterns of the ACL in Practice
file.
Hint: Staying actively involved while completing the tutorial assignment will help you to
complete the ACL problems more efficiently. You may find it helpful to review the assigned
problems before completing the ACL in Practice assignment.
For instructions on accessing the ACL in Practice please see earlier assignments.
(Note: Unless otherwise instructed, please submit your answers to the following exercises and
problems to your instructor in a word processing document.)
Chapter 5 Tutorial Exercises: 1-6
There are six exercises (five within the chapter, one at the end) in the Chapter 5 tutorial from the
ACL in Practice file (PDF file that is bundled with the software). Your instructor will inform
you which, if any, of the exercises to complete and submit.
Messier/Glover/Prawitt End-of-Chapter 5, ACL Problems
As introduced above in the ACL problems for Chapter 3, Roger Company is a mid-size
company located in the Midwest that handles the distribution of various home and garden
products. You are part of the engagement team assigned to audit the financial statements of
Roger Company. Roger Company has been a client of your firm for many years, and your firm
has rarely encountered any problems with them. However, the engagement partner has made it
very clear to you that there is no room for mistakes. Your tasks as one of the auditors on the
engagement are outlined below and in other problems of the remaining chapters.
Please download the Roger Company ACL files, if you haven’t already. They are found
under Course-Wide Content on the Student Edition of your text’s Online Learning Center.
See instructions for opening the Roger Company files in the Chapter 3 assignment above.
Problem 1
How many inventory items at Roger Company have a market value that exceeds $10,000? What
is the total market value of those items? How many inventory items at Roger Company have a
value-at-cost in excess of $10,000? What is the total value-at-cost of those items?
Problem 2
Use information from Roger Company to determine how many inventory items have a market
value lower than their original value-at-cost. What is the total market value of those items? What
is the total value-at-cost of those items?
The McGraw-Hill Companies, Inc., 2012
ACL-8
Auditing & Assurance Services, 8/e
Chapter 6 ACL Exercises and Problems
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For technical assistance with ACL, please contact technical support: 604-669-4225; info@acl.com;
http://www.acl.com/supportcenter/
Tutorial Assignment (Estimated time to complete is 40-60 minutes)
Read and complete the tasks in Chapter 6: Analyze Transactions of the ACL in Practice file.
Hint: Staying actively involved while completing the tutorial assignment will help you to
complete the ACL problems more efficiently. You may find it helpful to review the assigned
problems before completing the ACL in Practice assignment.
For instructions on accessing the ACL in Practice please see earlier assignments.
(Note: Unless otherwise instructed, please submit your answers to the following exercises and
problems to your instructor in a word processing document. Roger Company files can be
downloaded from the Course-Wide Content on the Student Edition of your text’s Online
Learning Center.)
Chapter 6 Tutorial Exercises: 1-5
There are five exercises at the end of the Chapter 6 tutorial from the ACL in Practice file (PDF
file that is bundled with the software). Your instructor will inform you which, if any, of the
exercises to complete and submit.
Messier/Glover/Prawitt End-of-Chapter 6, ACL Problems
As introduced above in the ACL problems for Chapter 3, Roger Company is a mid-size
company located in the Midwest that handles the distribution of various home and garden
products. You are part of the engagement team assigned to audit the financial statements of
Roger Company. Roger Company has been a client of your firm for many years, and your firm
has rarely encountered any problems with them. However, the engagement partner has made it
very clear to you that there is no room for mistakes. Your tasks as one of the auditors on the
engagement are outlined below and in other problems of the remaining chapters.
Please download the Roger Company ACL files, if you haven’t already. They are found
under Course-Wide Content on the Student Edition of your text’s Online Learning Center.
See instructions for opening the Roger Company files in the Chapter 3 assignment above.
Problem 1
After reviewing a list of parties related to Roger Company, you notice that the customers with
customer numbers 803882 and 512198 are related to the owners of the company. Please use the
Roger_Company_AR table to determine the amount of accounts receivable that relates to sales
made to these related-party customers. What percent of total accounts receivable are made up of
sales to these two related-party customers?
The McGraw-Hill Companies, Inc., 2012
ACL Assignments
ACL-9
Problem 2
As part of the audit of Accounts Payable, you want to identify all invoices (Invoice_Amount)
greater than $50,000 so that you can vouch the transaction to original documentation (i.e.,
approved purchase order, receiving records). Use ACL to identify all Accounts Payable invoices
greater than $50,000 and compute the total value of those transactions. Why is it important for
auditors to determine if large purchases are properly authorized?
The McGraw-Hill Companies, Inc., 2012
ACL-10
Auditing & Assurance Services, 8/e
Chapter 7 ACL Exercises and Problems
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For technical assistance with ACL, please contact technical support: 604-669-4225; info@acl.com;
http://www.acl.com/supportcenter/
Tutorial Assignment (Estimated time to complete is 20-30 minutes)
Read and complete the tasks in Chapter 7: Validate, Correct, and Extract Data of the ACL in
Practice file.
Hint: Staying actively involved while completing the tutorial assignment will help you to
complete the ACL problems more efficiently. You may find it helpful to review the assigned
problems before completing the ACL in Practice assignment.
For instructions on accessing the ACL in Practice please see earlier assignments.
(Note: Unless otherwise instructed, please submit your answers to the following exercises and
problems to your instructor in a word processing document. Roger Company files can be
downloaded from the Course-Wide Content on the Student Edition of your text’s Online
Learning Center.)
Chapter 7 Tutorial Exercises: 1-7
There are seven exercises (3 within the chapter and 4 at the end) in Chapter 7 tutorial from the
ACL in Practice file (PDF file that is bundled with the software). Your instructor will inform
you which, if any, of the exercises to complete and submit.
Messier/Glover/Prawitt End-of-Chapter 7, ACL Problems
As introduced above in the ACL problems for Chapter 3, Roger Company is a mid-size
company located in the Midwest that handles the distribution of various home and garden
products. You are part of the engagement team assigned to audit the financial statements of
Roger Company. Roger Company has been a client of your firm for many years, and your firm
has rarely encountered any problems with them. However, the engagement partner has made it
very clear to you that there is no room for mistakes. Your tasks as one of the auditors on the
engagement are outlined below and in other problems of the remaining chapters.
Please download the Roger Company ACL files, if you haven’t already. They are found
under Course-Wide Content on the Student Edition of your text’s Online Learning Center.
See instructions for opening the Roger Company files in the Chapter 3 assignment above.
Problem 1
Roger Company’s policy is to not ship goods unless a valid purchase order has been received.
However, based on information obtained during your walk through to confirm your
understanding of processes and controls, you learned that occasionally a rush order is received
via telephone and the goods are shipped before receiving the purchase order. Rush orders are
only processed for existing customers. When rush orders are received the sales person taking the
order completes a “Rush Order” form which is then approved by the sales department supervisor.
The “Rush Order” form is then attached to the purchase order when it is received and the details
of the two forms (i.e., product and quantity) are compared. To test the effectiveness of the
The McGraw-Hill Companies, Inc., 2012
ACL Assignments
ACL-11
controls around rush orders, you want to identify all instances where product is shipped before a
purchase order is received. Using the Roger Company shipping file, determine the number of
invoices related to orders that were shipped before a purchase order was received.
Problem 2
In discussions with the order fulfillment and shipping departments, you learn that it is common
for a partial or “split” shipment to go out because of an insufficient quantity of items in stock to
fulfill the customer order. However, controls should prohibit shipping a higher quantity than was
ordered. Using information from Roger Company’s shipping file, determine how many records
contain fields where the quantity shipped exceeds the quantity ordered.
The McGraw-Hill Companies, Inc., 2012
ACL-12
Auditing & Assurance Services, 8/e
Chapter 8 ACL Problems
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For technical assistance with ACL, please contact technical support: 604-669-4225; info@acl.com;
http://www.acl.com/supportcenter/
(Note: Unless otherwise instructed, please submit your answers to the following problems to
your instructor in a word processing document.)
Messier/Glover/Prawitt End-of-Chapter 8, ACL Problems
As introduced above in the ACL problems for Chapter 3, Roger Company is a mid-size
company located in the Midwest that handles the distribution of various home and garden
products. You are part of the engagement team assigned to audit the financial statements of
Roger Company. Roger Company has been a client of your firm for many years, and your firm
has rarely encountered any problems with them. However, the engagement partner has made it
very clear to you that there is no room for mistakes. Your tasks as one of the auditors on the
engagement are outlined below and in other problems of the remaining Chapters.
Please download the Roger Company ACL files, if you haven’t already. They are found
under Course-Wide Content on the Student Edition of your text’s Online Learning Center.
See instructions for opening the Roger Company files in the Chapter 3 assignment above.
Problem 1
Use ACL to determine the sample size an auditor should use for attributes sampling given the
criteria listed below:
1. With any ACL project (e.g., Roger Company) open, choose Sampling on the menu
toolbar
2. Click on Calculate Sample Size
3. Choose the Record option
 Confidence is 95
 Population is 1000
 Upper Error Limit (%) is 8 (this is tolerable error)
 Expected Error Rate (%) is 3
4. Click Calculate
5. What is the recommended sample size?
Problem 2
How would the sample size change if all sample-size inputs listed in Problem 1 stayed the same
with the exceptions listed below? Please evaluate each item independently by resetting the inputs
to those listed in Problem 1 and changing only the one factor listed in each item below. (Hint: If
you use the Calculate button rather than the OK button the sample size window will stay open).
a. Confidence dropped to 90 percent?
b. Population increased to 500,000?
c. Expected Error Rate (%) increased to 4?
d. Upper Error Limit (%) decreases to 7?
e. Upper Error Limit (%) increases to 15?
The McGraw-Hill Companies, Inc., 2012
ACL Assignments
ACL-13
Problem 3
Using your results from Problem 2 above:
a. Which of the following four input factors—confidence, population, upper error
limit, or expected error rate—has the smallest effect on the sample size?
b. Which two factors appear to have the greatest effect on sample size?
c. Go into ACL’s sampling size tool and input the factors listed in Problem 1 and
then experiment with increasingly larger expected error rates. What happens as
the expected error rate is nearly as large as the upper error limit or tolerable error?
Why does this happen?
Problem 4
For the following three control attributes, you want to be 90 percent confident that the population
deviation rate does not exceed 7.5 percent.
Attribute 1-The purchase order was approved (purchasing department stamp provides
evidence)
Attribute 2-The purchase order, receiving report, and vendor invoice are included in each
voucher packet
Attribute 3-The accounts payable department compared product and quantities across the
three documents (initials by an accounts payable clerk and auditor reperformance provide
evidence)
You tested a sample of 52 voucher packages and discovered the following deviations:
 Attribute 1: 2 deviations
 Attribute 2: 1 deviation
 Attribute 3: 0 deviations
With any ACL project open (e.g., Roger Company) evaluate the results of your testing by:
1. Select Sampling >> Evaluate Error
2. Make sure Record is the selected sample type
3. Enter the applicable parameters (e.g., Confidence is 90 and Sample Size is 52, Number
of Errors or deviations listed above)
4. Click OK
What is the upper error limit frequency for each attribute?
Based on the results of your controls testing, which controls are considered effective? Please
explain why or why not?
Problem 5
Use ACL to complete problems 8-27 and 8-28 in your book. In ACL, “upper error limit” is the
same as “tolerable deviation rate” and “expected error rate” is the same as “expected population
deviation rate.” For problem 8-27, does the population amount you enter change the results? For
8-28, use the sample sizes computed by ACL in 8-27. ACL’s sample sizes and upper error limit
frequency will differ from those computed using the tables in the textbook. Did the differences
lead to different conclusions or auditor decisions?
The McGraw-Hill Companies, Inc., 2012
ACL-14
Auditing & Assurance Services, 8/e
Chapter 9 ACL Problems
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For technical assistance with ACL, please contact technical support: 604-669-4225; info@acl.com;
http://www.acl.com/supportcenter/
(Note: Unless otherwise instructed, please submit your answers to the following problems to
your instructor in a word processing document.)
Messier/Glover/Prawitt End-of-Chapter 9, ACL Problems
As introduced above in the ACL problems for Chapter 3, Roger Company is a mid-size
company located in the Midwest that handles the distribution of various home and garden
products. You are part of the engagement team assigned to audit the financial statements of
Roger Company. Roger Company has been a client of your firm for many years, and your firm
has rarely encountered any problems with them. However, the engagement partner has made it
very clear to you that there is no room for mistakes. Your tasks as one of the auditors on the
engagement are outlined below and in other problems of the remaining chapters.
Please download the Roger Company ACL files, if you haven’t already. They are found
under Course-Wide Content on the Student Edition of your text’s Online Learning Center.
See instructions for opening the Roger Company files in the Chapter 3 assignment above.
Problem 1
In addition to determining sample size, ACL can also select a random sample for you. Draw a
sample of Accounts Receivable (AR) transactions from the Roger Company AR table assuming
the confidence is 95, the upper error limit is 9 percent, and the expected error rate is 5 percent.
1. Open the Roger_Company_AR table
2. Select Sampling >> Sample Records and the Sample window appears
3. Make sure Record is the chosen Sample Type
4. Under Sample Parameters, click on the Random option
5. Click on the Size button so the Size Dialogue box opens
6. Enter the parameters as specified above (Note: The Population field should
automatically have a value in it.)
7. Click on Calculate, click on OK
8. In the To field, type “Roger AR Sample”
9. Click OK
10. How many records are in the new Roger Company AR Sample table?
Problem 2
Assuming that the electronic data were difficult to obtain and that the client compiled the
electronic data only for the sample you selected in Problem 1, evaluate the effectiveness of the
control that the invoice date should always precede the due date.
1. Create a filter in the Roger AR Sample table for the control described above
2. How many exceptions are there to the control above?
3. Select Sampling from the menu toolbar and click on Evaluate Error
4. Make sure Record is the selected sample type
The McGraw-Hill Companies, Inc., 2012
ACL Assignments
ACL-15
5. Enter the appropriate parameters (i.e., Confidence 95, Sample Size 175, and the number
of exceptions you observed)
6. Click OK
7. What is the upper error limit frequency?
Based on the results from the operations you completed above, can the control be considered
effective? Why or why not?
Problem 3
Determine an appropriate sample size to test the Roger_Company_AR table using monetary
unit sampling using the following inputs:
1. Open the Roger_Company_AR table
2. Sum the Amount field
3. Select Sampling >> Calculate Sample Size and the Size window appears
4. Make sure Monetary is the chosen on the Main tab
5. Input the following:
 Confidence is 92 percent
 Population is the sum of the Amount field
 Materiality is 10000
 Expected Total Errors is 1500
6. Click on Calculate
7. What is the appropriate sample size?
Problem 4
Create a Roger Company MUS Sample table (or file) by selecting Sample >> Sample Records.
Make sure MUS is the chosen sample type and Fixed Interval is the chosen option under
Sample Parameters. Enter the appropriate Interval value from the results in Problem 3 (find
interval under the calculated sample size), and chose 350 as the Start. Ignore the Cutoff field.
Save the table as “Roger Company MUS Sample.” How many records are in the sample table?
Why is the sample size different from what was calculated in Problem 3?
Problem 5
Use ACL to complete questions b and c of problem 9-21 in your textbook. For problem “b” Use
the Sampling >> Calculate Sample Size command. Take note of the interval in the results to
use for problem c. For problem “c” use the Sampling >> Evaluate Error command. Input the
data from problem “b” for confidence and the interval from the ACL results when you completed
problem “b.” Enter book value and error amounts in the “Errors” box for each misstatement
discovered. Follow the notation “Item amount, Error” where “Item amount” is the book value
and “Error” is the error amount or audit difference observed.
The McGraw-Hill Companies, Inc., 2012
ACL-16
Auditing & Assurance Services, 8/e
Chapter 10 ACL Problems
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For technical assistance with ACL, please contact technical support: 604-669-4225; info@acl.com;
http://www.acl.com/supportcenter/
(Note: Unless otherwise instructed, please submit your answers to the following problems to
your instructor in a word processing document.)
Messier/Glover/Prawitt End-of-Chapter 10, ACL Problems
As introduced above in the ACL problems for Chapter 3, Roger Company is a mid-size
company located in the Midwest that handles the distribution of various home and garden
products. You are part of the engagement team assigned to audit the financial statements of
Roger Company. Roger Company has been a client of your firm for many years, and your firm
has rarely encountered any problems with them. However, the engagement partner has made it
very clear to you that there is no room for mistakes. Your tasks as one of the auditors on the
engagement are outlined below and in other problems of the remaining chapters.
Please download the Roger Company ACL files, if you haven’t already. They are found
under Course-Wide Content on the Student Edition of your text’s Online Learning Center.
See instructions for opening the Roger Company files in the Chapter 3 assignment above.
Problem 1
Possible misstatements due to lack of appropriate sales authorization include selling goods at
unauthorized prices, selling amounts that exceed customer credit limits, and/or selling to
customers who are bad credit risks. Roger Company’s policy does permit sales in excess of
credit limits, but only with management approval.
a. Use the Roger Company’s AR table to determine how many sales were made that
exceeded customer credit limits.
b. Determine how many of the sales in part "a" (where the credit limit was surpassed)
were not approved.
Problem 2
Possible misstatements that may occur during the cash receipts process result from cash receipts
being received, but not recorded (which could facilitate embezzlement). A control technique that
is used to mitigate the risk of such misstatements is to segregate the duties of the accounts
receivable department, general ledger accounting records, and cash receipts. The employee who
completed each duty is required to sign his/her initials, and evidence of this has been provided
for you in the AR table. In each transaction, proper segregation of duties is accomplished when
no two duties have been completed by the same person. Use ACL and the information from
Roger Company’s AR table to determine in which transactions segregation of duties was not
properly implemented.
The McGraw-Hill Companies, Inc., 2012
ACL Assignments
ACL-17
Chapter 11 ACL Problems
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For technical assistance with ACL, please contact technical support: 604-669-4225; info@acl.com;
http://www.acl.com/supportcenter/
(Note: Unless otherwise instructed, please submit your answers to the following problems to
your instructor in a word processing document)
Messier/Glover/Prawitt End-of-Chapter 11, ACL Problems
As introduced above in the ACL problems for Chapter 3, Roger Company is a mid-size
company located in the Midwest that handles the distribution of various home and garden
products. You are part of the engagement team assigned to audit the financial statements of
Roger Company. Roger Company has been a client of your firm for many years, and your firm
has rarely encountered any problems with them. However, the engagement partner has made it
very clear to you that there is no room for mistakes. Your tasks as one of the auditors on the
engagement are outlined below and in other problems of the remaining chapters.
Please download the Roger Company ACL files, if you haven’t already. They are found
under Course-Wide Content on the Student Edition of your text’s Online Learning Center.
See instructions for opening the Roger Company files in the Chapter 3 assignment above.
Problem 1
A risk in the purchasing process is that a purchase is made from an unauthorized vendor. Use the
Data >> Relate Tables command in ACL (see ACL in Practice Chapter 6) to relate, by vendor
number, the Roger_Company_Vendors table to the Roger_Company_AP_Transactions table,
and determine how many purchases were made from unauthorized vendors. This can be
accomplished by creating a new column of vendor numbers from the
Roger_Company_Vendors table and adding it to Roger_Company_AP_Transactions table.
Problem 2
In prior year’s audits, the auditor has discovered cutoff errors in the purchasing area. In some
cases, Rogers included a liability in the subsequent year when it should have been included in the
current year. In other cases, Rogers included a liability in the current year, even though the
purchase transaction related to the next year. For purposes of this problem only, assume the
fiscal year for Roger Company is from March 1, 2011 to February 28, 2012. Using the
Roger_Company_AP_Transactions table, what is the total invoice value of the purchases that
were inappropriately included in the February 28, 2012 balance that should have been recorded
in the subsequent fiscal year?
The McGraw-Hill Companies, Inc., 2012
ACL-18
Auditing & Assurance Services, 8/e
Chapter 12 ACL Problems
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For technical assistance with ACL, please contact technical support: 604-669-4225; info@acl.com;
http://www.acl.com/supportcenter/
(Note: Unless otherwise instructed, please submit your answers to the following problems to
your instructor in a word processing document.)
Messier/Glover/Prawitt End-of-Chapter 12, ACL Problems
As introduced above in the ACL problems for Chapter 3, Roger Company is a mid-size
company located in the Midwest that handles the distribution of various home and garden
products. You are part of the engagement team assigned to audit the financial statements of
Roger Company. Roger Company has been a client of your firm for many years, and your firm
has rarely encountered any problems with them. However, the engagement partner has made it
very clear to you that there is no room for mistakes. Your tasks as one of the auditors on the
engagement are outlined below and in other problems of the remaining chapters.
Please download the Roger Company ACL files, if you haven’t already. They are found
under Course-Wide Content on the Student Edition of your text’s Online Learning Center.
See instructions for opening the Roger Company files in the Chapter 3 assignment above.
Problem 1
A relatively common fraud involves a fraudster writing checks to a “ghost” employee. Although
Roger Company hasn’t had any problems of this nature in the past, there has been significant
turnover in the HR department and you want to test that payroll checks are going only to current,
valid employees. Use the Data >> Relate Tables command in ACL (see ACL in Practice
Chapter 6) to make sure that all employees who are receiving checks are actual employees of the
company. Once the tables are related, there are a number of ways you can determine if there are
“ghost” employees (e.g., use Add Column to insert the employee number data from one table
into another). Document your results.
Problem 2
Using ACL, test the Roger_Company_Employee_Master table for duplicate records. How
many duplicate records exist? Also, test the Roger_Company_Payroll table for duplicate
records. How many duplicate records exist? Comment on the results.
The McGraw-Hill Companies, Inc., 2012
ACL Assignments
ACL-19
Chapter 13 ACL Problems
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For technical assistance with ACL, please contact technical support: 604-669-4225; info@acl.com;
http://www.acl.com/supportcenter/
(Note: Unless otherwise instructed, please submit your answers to the following problems to
your instructor in a word processing document.)
Messier/Glover/Prawitt End-of-Chapter 13, ACL Problems
As introduced above in the ACL problems for Chapter 3, Roger Company is a mid-size
company located in the Midwest that handles the distribution of various home and garden
products. You are part of the engagement team assigned to audit the financial statements of
Roger Company. Roger Company has been a client of your firm for many years, and your firm
has rarely encountered any problems with them. However, the engagement partner has made it
very clear to you that there is no room for mistakes. Your tasks as one of the auditors on the
engagement are outlined below and in other problems of the remaining chapters.
Please download the Roger Company ACL files, if you haven’t already. They are found
under Course-Wide Content on the Student Edition of your text’s Online Learning Center.
See instructions for opening the Roger Company files in the Chapter 3 assignment above.
Problem 1
Inventory is typically sold at a price higher than cost. However, sometimes certain inventory
items become obsolete and must be priced lower than the unit cost. Using the Roger Company
file, determine which items Roger Company is selling at a price below the unit cost.
Problem 2
Create a histogram of the market value of the inventory items at Roger Company. This histogram
will help you to visualize the market value of inventory items at Roger Company. Use the
Analyze >> Histogram command and select “Market_Value” from the drop down menu.
Choose 100 as a minimum and 10000 as a maximum. Leave the interval at 10. Comment on the
results of your histogram. Copy the graph to your clipboard and paste it to the word processing
document you are using to submit your answers. Alternatively, you can print the graph and
submit it to your instructor with your solutions.
The McGraw-Hill Companies, Inc., 2012
ACL-20
Auditing & Assurance Services, 8/e
Chapter 14 ACL Problems
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For technical assistance with ACL, please contact technical support: 604-669-4225; info@acl.com;
http://www.acl.com/supportcenter/
(Note: Unless otherwise instructed, please submit your answers to the following problems to
your instructor in a word processing document.)
Messier/Glover/Prawitt End-of-Chapter 14, ACL Problems
As introduced above in the ACL problems for Chapter 3, Roger Company is a mid-size
company located in the Midwest that handles the distribution of various home and garden
products. You are part of the engagement team assigned to audit the financial statements of
Roger Company. Roger Company has been a client of your firm for many years, and your firm
has rarely encountered any problems with them. However, the engagement partner has made it
very clear to you that there is no room for mistakes. Your tasks as one of the auditors on the
engagement are outlined below and in other problems of the remaining chapters.
Please download the Roger Company ACL files, if you haven’t already. They are found
under Course-Wide Content on the Student Edition of your text’s Online Learning Center.
See instructions for opening the Roger Company files in the Chapter 3 assignment above.
Problem 1
An audit procedure that is useful for identifying potential risks is to scan transactions for unusual
items. ACL can help with such a procedure by expediting the scanning process, especially when
the database of transactions is large. Use the Analyze >> Stratify command in ACL to stratify
the Invoice_Amount field in the Roger_Company_AP_Transactions table. Set the minimum
and maximum at values that seem appropriate for this dataset. Comment on the results. Are
there any transactions that seem unusual? Include a copy of the stratification table in your
answer.
Problem 2
Another way auditors can quickly scan a large database of transactions is to use the Analyze >>
Classify command in ACL (see ACL in Practice Chapter 5). Use the Analyze >> Classify
command in ACL to classify the Vendor_Number field in the
Roger_Company_AP_Transactions table. Choose Invoice_Amount as the subtotal field.
Comment on the results. Are there any transactions that seem unusual? If so, which transactions
appear unusual?
The McGraw-Hill Companies, Inc., 2012
ACL Assignments
ACL-21
Chapter 15 ACL Problems
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For technical assistance with ACL, please contact technical support: 604-669-4225; info@acl.com;
http://www.acl.com/supportcenter/
(Note: Unless otherwise instructed, please submit your answers to the following problems to
your instructor in a word processing document.)
Messier/Glover/Prawitt End-of-Chapter 15, ACL Problems
As introduced above in the ACL problems for Chapter 3, Roger Company is a mid-size
company located in the Midwest that handles the distribution of various home and garden
products. You are part of the engagement team assigned to audit the financial statements of
Roger Company. Roger Company has been a client of your firm for many years, and your firm
has rarely encountered any problems with them. However, the engagement partner has made it
very clear to you that there is no room for mistakes. Your tasks as one of the auditors on the
engagement are outlined below and in other problems of the remaining chapters.
Please download the Roger Company ACL files, if you haven’t already. They are found
under Course-Wide Content on the Student Edition of your text’s Online Learning Center.
See instructions for opening the Roger Company files in the Chapter 3 assignment above.
Problem 1
Common procedures that auditors perform are footing and cross-footing. Footing is the process
of adding a column of numbers, and cross-footing is the process of adding a row of numbers. As
was demonstrated in earlier ACL problems, footing can easily be done by simply selecting a
column and pressing the Total button (which looks like this: ). Cross-footing, on the other
hand, is not as easy. In the Roger_Company_Shipping table use the expression filter to
determine if, in any given record, the Subtotal field and the Tax field do not add up to an
amount equal to the Invoice_total field. Include the expression you used in your answer. What
seems to be the reason why there are a few cases where the Subtotal field added to the Tax field
doesn’t equal the Invoice_total field?
The McGraw-Hill Companies, Inc., 2012
ACL-22
Auditing & Assurance Services, 8/e
Chapter 16 ACL Problems
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For technical assistance with ACL, please contact technical support: 604-669-4225; info@acl.com;
http://www.acl.com/supportcenter/
(Note: Unless otherwise instructed, please submit your answers to the following problems to
your instructor in a word processing document.)
Messier/Glover/Prawitt End-of-Chapter 16, ACL Problems
As introduced above in the ACL problems for Chapter 3, Roger Company is a mid-size
company located in the Midwest that handles the distribution of various home and garden
products. You are part of the engagement team assigned to audit the financial statements of
Roger Company. Roger Company has been a client of your firm for many years, and your firm
has rarely encountered any problems with them. However, the engagement partner has made it
very clear to you that there is no room for mistakes. Your tasks as one of the auditors on the
engagement are outlined below and in other problems of the remaining chapters.
Please download the Roger Company ACL files, if you haven’t already. They are found
under Course-Wide Content on the Student Edition of your text’s Online Learning Center.
See instructions for opening the Roger Company files in the Chapter 3 assignment above.
Problem 1
Use ACL to test the integrity of the data in the Roger_Company_AR table. Specifically, use the
Analyze >> Look for Gaps and Analyze >> Look for Duplicates commands to determine the
consistency of the data in the Invoice_Number field (refer to the ACL Help menu for additional
guidance regarding these procedures). Are there any gaps and/or duplicates? Imagine what it
would be like to manually look for duplicates or gaps in a large database and compare that to
how ACL was able to accomplish the same task.
Problem 2
Roger Company has a policy of making routine cash disbursements on a bi-monthly basis and
saving the cash disbursements information in a database that is available to you as the
Roger_Company_Cash_Disbursements table. Data for non-routine cash disbursements is
saved in a different database. Roger Company considers cash disbursements under $1,500 as
routine, and everything else should be in the other database. Use ACL and the
Roger_Company_Cash_Disbursements table to determine if all cash disbursements are under
$1,500. Comment on the results.
The McGraw-Hill Companies, Inc., 2012
ACL Assignments
ACL-23
Chapter 17 ACL Problems
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For technical assistance with ACL, please contact technical support: 604-669-4225; info@acl.com;
http://www.acl.com/supportcenter/
(Note: Unless otherwise instructed, please submit your answers to the following problems to
your instructor in a word processing document.)
Messier/Glover/Prawitt End-of-Chapter 17, ACL Problems
As introduced above in the ACL problems for Chapter 3, Roger Company is a mid-size
company located in the Midwest that handles the distribution of various home and garden
products. You are part of the engagement team assigned to audit the financial statements of
Roger Company. Roger Company has been a client of your firm for many years, and your firm
has rarely encountered any problems with them. However, the engagement partner has made it
very clear to you that there is no room for mistakes. Your tasks as one of the auditors on the
engagement are outlined below and in other problems of the remaining chapters.
Please download the Roger Company ACL files, if you haven’t already. They are found
under Course-Wide Content on the Student Edition of your text’s Online Learning Center.
See instructions for opening the Roger Company files in the Chapter 3 assignment above.
Problem 1
Use ACL and the Roger_Company_Cash_Disbursements table to determine the total amount
paid for legal services over the last year. From experience on past audits, you know that Happy
Homes Law Offices handles all of Roger Company’s legal issues and that Roger Company
records legal payments as “Legal Services.” However, you want to make sure no other legal fees
have been paid to other law offices. Using ACL, conduct a search for payments made to other
lawyers. What is the total amount paid for legal services? Were payments for legal services made
to law offices other than Happy Homes? List any other law offices that received payments. What
other steps do you suggest the auditor take with this new found information?
Problem 2
Roger Company has a policy that routine payments should be made frequently enough so that a
vendor’s accounts payable balance never exceeds $500. The
Roger_Company_Cash_Disbursements table is organized to display the running accounts
payable balance over time. Use ACL and the Roger_Company_Cash_Disbursements table to
determine if all balances are under $500. Comment on the results.
The McGraw-Hill Companies, Inc., 2012
ACL-24
Auditing & Assurance Services, 8/e
Chapter 18 ACL Problems
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For technical assistance with ACL, please contact technical support: 604-669-4225; info@acl.com;
http://www.acl.com/supportcenter/
(Note: Unless otherwise instructed, please submit your answers to the following problems to
your instructor in a word processing document.
Messier/Glover/Prawitt End-of-Chapter 18, ACL Problems
As introduced above in the ACL problems for Chapter 3, Roger Company is a mid-size
company located in the Midwest that handles the distribution of various home and garden
products. You are part of the engagement team assigned to audit the financial statements of
Roger Company. Roger Company has been a client of your firm for many years, and your firm
has rarely encountered any problems with them. However, the engagement partner has made it
very clear to you that there is no room for mistakes. Your tasks as one of the auditors on the
engagement are outlined below and in other problems of the remaining chapters.
Please download the Roger Company ACL files, if you haven’t already. They are found
under Course-Wide Content on the Student Edition of your text’s Online Learning Center.
See instructions for opening the Roger Company files in the Chapter 3 assignment above.
Problem 1
Use ACL to look for gaps and duplicates in the voucher numbers in the
Roger_Company_Cash_Disbursements table (refer to problem 1 in Chapter 16 or the ACL
Help menu for additional guidance regarding these procedures). How many duplicates and gaps
were found? Use the expression filter to look up some of the voucher numbers that were listed as
the results of the Analyze >> Look for gaps command. Do you notice anything interesting?
Comment on the results.
The McGraw-Hill Companies, Inc., 2012
ACL Assignments
ACL-25
Chapter 19 ACL Problems
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For technical assistance with ACL, please contact technical support: 604-669-4225; info@acl.com;
http://www.acl.com/supportcenter/
(Note: Unless otherwise instructed, please submit your answers to the following problems to
your instructor in a word processing document.)
Messier/Glover/Prawitt End-of-Chapter 19, ACL Problems
As introduced above in the ACL problems for Chapter 3, Roger Company is a mid-size
company located in the Midwest that handles the distribution of various home and garden
products. You are part of the engagement team assigned to audit the financial statements of
Roger Company. Roger Company has been a client of your firm for many years, and your firm
has rarely encountered any problems with them. However, the engagement partner has made it
very clear to you that there is no room for mistakes. Your tasks as one of the auditors on the
engagement are outlined below and in other problems of the remaining chapters.
Please download the Roger Company ACL files, if you haven’t already. They are found
under Course-Wide Content on the Student Edition of your text’s Online Learning Center.
See instructions for opening the Roger Company files in the Chapter 3 assignment above.
Problem 1
A policy that is in effect at Roger Company is that cash disbursements should only be made to
vendors with an approved vendor number. In some cases, a vendor number is not available but
the vendor is still valid. Use the Roger_Company_Cash_Disbursements table and the Data >>
Relate tables command in ACL (see ACL in Practice Chapter 6) to determine which cash
disbursements have an authorized vendor number and which ones do not. To make it easier for
you to scan the database for valid vendor numbers you may also want to use the expression filter.
How many cash disbursements do not have a valid vendor number? Comment on the results.
The McGraw-Hill Companies, Inc., 2012
ACL-26
Auditing & Assurance Services, 8/e
Chapter 20 ACL Problems
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For technical assistance with ACL, please contact technical support: 604-669-4225; info@acl.com;
http://www.acl.com/supportcenter/
(Note: Unless otherwise instructed, please submit your answers to the following problems to
your instructor in a word processing document.)
Messier/Glover/Prawitt End-of-Chapter 20, ACL Problems
As introduced above in the ACL problems for Chapter 3, Roger Company is a mid-size
company located in the Midwest that handles the distribution of various home and garden
products. You are part of the engagement team assigned to audit the financial statements of
Roger Company. Roger Company has been a client of your firm for many years, and your firm
has rarely encountered any problems with them. However, the engagement partner has made it
very clear to you that there is no room for mistakes. Your tasks as one of the auditors on the
engagement are outlined below and in other problems of the remaining chapters.
Please download the Roger Company ACL files, if you haven’t already. They are found
under Course-Wide Content on the Student Edition of your text’s Online Learning Center.
See instructions for opening the Roger Company files in the Chapter 3 assignment above.
Problem 1
In Problem 2 from Chapter 16 it was discovered that there were some routine cash
disbursements that exceeded the $1,500 limit to Hartford Brothers for cleaning services. Use
ACL and the Roger_Company_Cash_Disbursements table to ascertain what the typical
running balance is for the vendor Hartford Brothers. Comment on the results considering both
the typical running balance and payments that exceed the routine transaction limit (see
description in Problem 2, Chapter 16).
The McGraw-Hill Companies, Inc., 2012
ACL Assignments
ACL-27
Chapter 21 ACL Problems
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For technical assistance with ACL, please contact technical support: 604-669-4225; info@acl.com;
http://www.acl.com/supportcenter/
(Note: Unless otherwise instructed, please submit your answers to the following problems to
your instructor in a word processing document.)
Messier/Glover/Prawitt End-of-Chapter 21, ACL Problems
As introduced above in the ACL problems for Chapter 3, Roger Company is a mid-size
company located in the Midwest that handles the distribution of various home and garden
products. You are part of the engagement team assigned to audit the financial statements of
Roger Company. Roger Company has been a client of your firm for many years, and your firm
has rarely encountered any problems with them. However, the engagement partner has made it
very clear to you that there is no room for mistakes. Your tasks as one of the auditors on the
engagement are outlined below and in other problems of the remaining chapters.
Please download the Roger Company ACL files, if you haven’t already. They are found
under Course-Wide Content on the Student Edition of your text’s Online Learning Center.
See instructions for opening the Roger Company files in the Chapter 3 assignment above.
Problem 1
Write a brief paragraph explaining how you believe ACL is most useful to auditors. If necessary,
go back to the ACL problems you have completed throughout the term to refresh your memory
regarding the capabilities within ACL.
The McGraw-Hill Companies, Inc., 2012
ACL-28
Auditing & Assurance Services, 8/e