ACC 411 Milestone Two Guidelines and Rubric
Overview: Careful planning is a critical part of the success of every audit. However, planning is not simply done at the beginning of the audit but is a continuous
and iterative process in which the results of one stage of the audit often necessitate revisions to plans for the next stage.
Prompt: Using your analysis of the business environment of RNS from Milestone One, as well as your textbook reading on planning an audit of cash accounts,
write an audit program (plan) that could be used to evaluate RNS’s internal controls for cash. Be sure your program addresses each component of internal
control.
Specifically, the following critical elements must be addressed:
I. Write an audit program for internal control of cash in Word or Excel. The following components must be included:
A. Control environment
B. Risk assessment
C. Control activities
D. Information and communication
E. Monitoring
Rubric
Guidelines for Submission: You can submit your audit program using Microsoft Word or Excel.
Critical Elements Proficient (100%) Needs Improvement (75%) Not Evident (0%) Value
Audit Program:
Control Environment
Writes an audit program that effectively
and completely addresses the control
environment component of internal
control of cash
Writes an audit program for the control
environment component of internal
control of cash, but the program is
inappropriate, incomplete, or unclear
Does not write an audit program for
the control environment component
of internal control of cash
18
Audit Program: Risk
Assessment
Writes an audit program that effectively
and completely addresses the risk
assessment component of internal
control of cash
Writes an audit program for the risk
assessment component of the internal
control of cash, but the program is
inappropriate, incomplete, or unclear
Does not write an audit program for
the risk assessment component of
internal control of cash
18
Audit Program:
Control Activities
Writes an audit program that effectively
and completely addresses the control
activities component of internal control
of cash
Writes an audit program that addresses
the control activities component of
internal control of cash, but the program
is inappropriate, incomplete, or unclear
Does not write an audit program that
addresses the control activities
component of the internal control of
cash
18
Critical Elements Proficient (100%) Needs Improvement (75%) Not Evident (0%) Value
Audit Program:
Information and
Communication
Writes an audit program that effectively
and completely addresses the
information and communication
component of internal control of cash
Writes an audit program that addresses
the information and communication
component of the internal control of
cash, but the program is inappropriate,
incomplete, or unclear
Does not write a program that
addresses the information and
communication component of the
internal control of cash
18
Audit Program:
Monitoring
Writes an audit program that
completely and effectively addresses
the monitoring component of internal
control of cash
Writes an audit program that addresses
the monitoring component of internal
control of cash, but the program is
inappropriate, incomplete, or unclear
Does not write a program to address
the monitoring component of the
internal control of cash
18
Articulation of
Response
Submission has no major errors related
to citations, grammar, spelling, syntax,
or organization
Submission has major errors related to
citations, grammar, spelling, syntax, or
organization that negatively impact
readability and articulation of main ideas
Submission has critical errors related
to citations, grammar, spelling,
syntax, or organization that prevent
understanding of ideas
10
Total 100%
