Business Finance Homework Help

You work as an internal auditor for Oklahoma State University (OSU).  You were asked to perform an audit of the purchasing cards (P-cards)  that are used on campus. P-cards are a business credit card that some  employees are permitted to use to purchase necessary goods and services.  If employees agree to certain rules, they can then use a P-card to make  appropriate business purchases rather than using their own credit card.  This allows the employee to avoid spending personal funds and seeking  reimbursement.It also provides the business with greater control because  the business can institute internal controls to limit types of  purchases and avoid inefficient and fraudulent transactions.  Organizations also can track spending using detailed P-card records  provided by the credit card companies.

You have been assigned the  task of auditing all of OSU’s P-card transactions for 2014. To perform  this audit, you received a file of all P-card transactions for the  entire state of Oklahoma (the state collects all transactions for state  and higher education institutions).[1] This file will be described more in Part II.

The purpose of this case is to help develop your analytical mindset. An analytics mindset is the ability to:

• Ask the right questions
• Extract, transform and load (ETL) relevant data
• Apply appropriate data analytics techniques
• Interpret and share the results with stakeholders