You are an auditor on the Grammar Limited (Grammar) engagement for the financial year ending 31 December 2017. Grammar is a retailer of residential…

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You are an auditor on the Grammar Limited (Grammar) engagement for the financial year ending 31December 2017. Grammar is a retailer of residential and commercial furniture. You are in the processof auditing Grammar’s purchases and note that the company has implemented a new purchasessystem during the year that has been designed to streamline integration with Grammar’s supplier andinventory management systems.Grammar’s purchases system contains the following information:FieldDescription1Supplier code2Supplier name3Supplier location4Order number5Item number6Item quantity ordered7Item unit price8Foreign exchange rate9Discount (%)10Order amount (AUD)11Order received dateREQUIRED:(a) Describe a general control you would expect to be in place before you would considerproceeding to test Grammar’s application controls.[1 mark](b) Describe a specific, practical procedure you would undertake to test the effectiveness of thecontrol you have outlined in (a) above.[1 mark](c) Describe an automated input controls that would address each of the following:i.Payments made to suppliers for wrong amountsii.Items purchased from overseas suppliers not being converted into local currency(AUD)iii.Payments being made for orders not yet received[6 marks](d) For the first control recommended in (c)(i) above, provide a specific and practical procedureyou could undertake to test the effectiveness of the control.[2 marks](e) Develop and explain an exception report you could use to address the accuracy ofGrammar’s purchases.12 marks]

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