Reference no: EM132474808

Read the annual report and any other news items involving the company, and then complete the following tasks:

Question 1: Create a framework for your audit procedure using the Audit Risk Approach. Your framework should include the following:

1. At least 3 examples of how you would mitigate risk in your audit
2. At least 3 accounts or areas that you would focus your attention on for this audit
3. An outline of tests and procedures that you would employ based on your company
4. A detailed analysis of the sampling techniques that you would utilize for each of the 3 accounts or areas that you chose
5. An explanation of the type(s) of documentation that you would require as audit evidence

Question 2: Discuss the levels of assurance that can be provided on audit reports.

Question 3: Explain how the internal controls of a company can impact the overall business.

Question 4: Define 2 internal control areas that you would focus on with your business.