Day 119 (12 Apr 2023)

Today, I faced an issue when one of the auditors inquired about the variances stated in the JV test report of our CAATs report. Upon cross-checking with the raw data, I realized that the variances were due to my mistake. The general ledgers for this company were extensive, and it took me an entire day to convert the PDF general ledgers into Excel files. Due to this, some transactions were omitted during the data-cleaning process, resulting in variances.

To rectify the variances, I had to identify which transactions were omitted. This involved opening the cleaned general ledgers and cross-checking them with the original general ledgers line by line, which took me half a day. Eventually, I was able to find the omitted transactions and add them to my cleaned general ledgers to rerun the JV test.

After the rerun, I promptly sent the amended JV test report to the auditor to ensure that our report was accurate and reliable.

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Main things that have learnt:

• To learn how to solve the JV test variances due to own mistake

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Comment/idea/opinion

• N/A