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Suppose, while performing analytical procedures, you discover uncollectible sales of repair parts have increased significantly from...

Suppose, while performing analytical procedures, you discover uncollectible sales of repair parts have increased significantly from previous years. Although this increase could be due to several factors, explain why this might indicate that one or more employees are stealing repair parts from Oceanview.

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Answer #1
  1. Any huge variation observed during the performance of analytical procedures requires serious consideration.
  2. The uncollectible balances from sale of repair parts have increased significantly.
  3. This might also occur because of the employees of the company misappropriated the parts by booking a sale of such parts and later write off such sales as uncollectible.
  4. This type of activities can be identified by sending confirmation letters to the customers and get a confirmation as to the purchase of the repair parts,.
  5. This type of unethical behaviour of employees may stand as a huge loss to the company.
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