Auditing Assignment Harvard Case Solution & Analysis

Auditing Assignment Case Solution

Introduction

This report presents the findings of the audit conducted on the selected attributes of the travel expense reports for the fiscal year under review. The purpose of the audit was to assess the compliance of the expenses with the organization's travel policy and regulatory requirements outlined in 2 CFR 200.475.

Scope

The audit covered a sample of travel expense reports, as outlined in the selection table below. The selected attributes were tested to determine compliance or non-compliance with the applicable criteria.

Selection Table (Worksheet)

The following table provides an overview of the selection and the results for each tested attribute:

Attribute Findings (Results)

Attribute A1

The travel expense report was reviewed and approved by the assigned supervisor and accounts payable. All selections (T1, T2, T3, and T4) passed this attribute test, indicating that the expense reports were properly reviewed and approved.

Attribute A2

The amount per vendor's invoice was the same as the amount listed. All selections (T1, T2, T3, and T4) passed this attribute test, indicating that the invoiced amounts matched the listed amounts.

Attribute A3

The expenses pertained to the fiscal year under review. All selections (T1, T2, T3, and T4) passed this attribute test, indicating that the expenses were recorded within the correct fiscal year.

Attribute A4

The employees on travel were WBC employees. All selections (T1, T2, T3, and T4) passed this attribute test, indicating that the employees on travel were part of the WBC organization.

Attribute A5

This attribute did not apply to the selections.

Attribute B

The organization has a travel policy that reflects the requirements of 2 CFR 200.475. All selections (T1, T2, T3, and T4) passed this attribute test, indicating that the organization's travel policy was in line with the regulatory requirements.

Attribute C1

Receipts, bank statements, checks, or other proof of payment were reviewed to assess payment status. Selection T1 passed this attribute test, indicating proper documentation of payment. However, Selection T2 and T4 failed this attribute test as there were missing source types and source numbers, indicating incomplete payment documentation.

Attribute C2

The amount paid was properly coded to the designated program. Selection T1 passed this attribute test, indicating correct coding. However, Selection T2 and T4 failed this attribute test due to missing source types and source numbers, indicating coding issues.

Attribute D1

Using GSA.GOV lodging and per diem rates, the selected travel expenses were checked to ensure they were within approved rates for the date of travel. Selections T1, T2, and T3 passed this attribute test, indicating compliance with the approved rates. However, Selection T4 failed this attribute test as the amount exceeded the GSA.GOV rate.

Attribute D2

The selected travel expenses were checked for allowability and reasonableness. Selection T1, T2, and T3 passed this attribute test, indicating that the expenses were deemed allowable and reasonable. However, Selection T4 failed this attribute test as there were issues with payment status, coding, and compliance with GSA.GOV rates.

Conclusion

Based on the results of the testing, Selections T1 and T3 met all the attributes, indicating that the reported travel expenses were reasonable, allocable, allowable, existed, and accurate. However, Selections T2 and T4 exhibited failures in some attributes, which includes attributes (C1, C2, D1, and D2) indicating the need for further investigation and corrective actions to address the identified issues with payment documentation, coding, and compliance with GSA.GOV rates............

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