User Account

All Pages

Case study on double ink printers Ltd

Assignment Help Auditing
Reference no: EM131769851

Case Study on Double Ink Printers Ltd (DIPL)

Background Information

You are a senior manager with Stewart and Kathy and you have been approached to undertake the audit of Double Ink Printers Ltd (DIPL). 2017DIPL print books, magazines and advertising materials for the publishing, educational and advertising industries on a print-on- demand basis. Printing on demand means that publishers can print the exact quantities ordered by retail outlets, rather than estimating in advance how many books are required and often printing too few or too many. The average printing turnaround time for DIPL is two business days for small orders and five to ten business days for large orders. In addition, five years ago, DIPL further expanded its earnings base by having publisher's titles available as searchable ‘e-books' that could be downloaded directly by readers from DIPL's website.

Question 1:

As part of your planning process, you are considering whether you will need to use the services of an expert in the audit of Double Ink Printers Ltd (DIPL).

Required:

Based on the background information contained in the case, explain whether it will be necessary to use the work of an expert in the audit of DIPL.

Question 2:

You are at the planning stage of the audit of Double Ink Printers Ltd (DIPL) for the year ended 30 June 2017 and have been asked by the audit manager to assists determine the materiality levels.

Required:

(a) Referring to the background information contained in the case, identify five factors that would influence your determination of the preliminary figure for overall materiality for the 2017 audit of DIPL.

(b) Explain why the factors identified in (a) above are relevant to your calculation of the preliminary figure for overall materiality.

(c) Describe how the factors identified in (a) above will influence your preliminary figure for overall materiality in the audit planning process.

Attachment:- Case Study.rar

Reference no: EM131769851

Questions Cloud

Determine the margin of safety expressed in dollars : If the company has a break-even point at $700,000 in sales revenue, determine the margin of safety expressed in dollars
Discuss the management accountant on its performance : Proven Patio Furniture Ltd received the following report from the management accountant on its performance over the past quarter
How second hand smoking poses a threat to safety of infants : How Second hand smoking poses a threat to the health or safety of infants. Explain how second hand smoking can potentially affect health or safety of infants.
What treatment options are available : What treatment options are available? Describe two options. What is the prognosis for the patient? Provide one supporting fact.
Case study on double ink printers Ltd : HI6026 - Audit, Assurance and Compliance - Case Study on Double Ink Printers Ltd - identify five factors that would influence your determination
Discuss about the operations management technique : Provide a detailed description of how 2 of the items found above in Operational Issues and Actions could be resolved.
System of equations by using the elimination method : Solve the system of equations by using the elimination method. (If the system is dependent, enter a general solution in terms of c. If there is no solution.
Prepare a cash budget : McBride Medical had a cash balance of 7000 on January 1. The company desires to maintain a cash cushion of 5000. Prepare a cash budget
How can nurses encourage patients to make behavior changes : How can nurses encourage patients to make immediate and permanent behavior changes; particularly as they relate to lifestyle choices?

Reviews

len1769851

12/16/2017 7:22:00 AM

• This assignment is to be submitted in accordance with assessment policy stated in the Subject Outline and Student Handbook. • It is the responsibility of the student who is submitting the work, to ensure that the work is in fact her/his own work. Incorporating another’s work or ideas into one’s own work without appropriate acknowledgement is an academic offence. Students should submit all assignments for plagiarism checking on Blackboard before final submission in the subject. For further details, please refer to the Subject Outline and Student Handbook.

Write a Review

Auditing Questions & Answers

  Astor city audit standards

Astor City, a small city that is not required to have independent audit, voluntarily decided to have an audit of its financial records. Currently, the city generates $900,000 in revenues. Discuss any potential violations of the applicable audit sta..

  Carl had the subsequent transactions for 2010 salary 55000

carl had the subsequent transactions for 2010. salary 55000 damage award compensatory for city bus accident 20000 loss

  Explain the impact of the iml program on your audit strategy

Explain the impact of the IML program on your audit strategy for the revenue cycle of CC and briefly explain eight deficiencies you note in Jeff's attribute sampling application.

  Find what will be the issuance price of the bonds

If the market rate of interest at time the bonds are sold is 8%, what will be the issuance price of the bonds?

  Bank and investor

Do some research on your bank using the Internet and the CyberLibrary, and write a short paper that put it all together in making a recommendation on whether or not you think one should buy shares in your bank as part of your own investment portfo..

  What are the auditor responsibilities for detecting fraud

Auditing - 0502630 CASE - The auditor's consideration of fraud in a financial statement audit. According to GAAS, what are the auditor's responsibilities for detecting fraud? What two types of misstatements due to fraud do the standards specificall..

  What material weaknesses are specific to trinity

Assess, through reflection on the case study as well as the comparable industries identified in the overview, what material weaknesses are specific to Trinity.

  Conduct an ethics audit of the formal and informal systems

To the best of your ability, use the questions in Tables 5.1 and 5.2 to conduct an ethics audit of the formal and informal systems in your organization.

  Describe a potential audit client

The following factors describe a potential audit client. For each factor, indicate whether it is indicative of poor corporate governance. Explain the reasoning for your assessment.

  Forecast accounts receivable

Accounts receivable are $45,000 and are directly proportional to total sales. The sales forecast for next year is $125,000, which represents a 5% growth over the current year. The forecast accounts receivable would be:

  Trust takes years to build seconds to break

Trust takes years to build, seconds to break and forever to fix - What does this say about the auditor/management relationship?

  Journal entries and work in process inventory account

Stanley Printing Company began operation in March with three custom orders. The following costs were incurred during the month.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd