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How can REA diagrams help an auditor understand a client’s business processes? Which parts of Figure...

How can REA diagrams help an auditor understand a client’s business processes?

Which parts of Figure 6 would accurately depict almost every organization’s revenue (or sales-collection) cycle? Which parts would change?

Problem 7 in the text, parts: a. c. d. e. f. g. h.

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Answer #1

REA models are used for the development of database to meet the needs of processing of transaction and management analysis needs. The activities that are useful for planning and controlling by the management are to be used in such diagrams.REA diagram is a diagram representing the company’s database. In Auditing, REA diagrams can be very useful since they represent the relationships between events and human resources. If an auditor wants to know about the credit policy of the company, he will have to check the accounts receivable but by using the REA diagrams he will be able to judge the policy for credit by the company.

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