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Describe accounting and auditing issues in the audit

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Reference no: EM131700576

Assignment -

Students select a SEC 10K Fortune 100 manufacturing company for use in the case study. This is the same company that you will use for your Power Point presentation. You need to obtain the Professor's approval of the company and the cannot be the same as another student.

This was to have been completed in Week 1. You will also use this company to answer the questions in the weekly Discussions.

The purpose of the paper is write an audit plan. Note that this paper is to be written from the perspective of an auditor and not from the perspective of an analyst that is performing an analyst of a company's financial statements. The perspectives are quite different.

Details of the Assignment

You are the new auditor for the SEC 10 company that you selected and was approved by the Professor. Another auditor performed the audit last year.

As the new auditor, you are to develop a comprehensive audit plan. The auditing standards describe the components of what is to be included in an audit plan.

You are to describe accounting and auditing issues in the audit that you will face as the new auditor. You are to identify the risks that the company faces as well and how these risks will affect the audit and how you will mitigate the risks. For example, if you select a company that has overseas manufacturing plants which produce inventory-what approach will you take to observe the inventory that is in the U.S. and overseas? What will you include in your audit plan? What are the risks related to inventory and the year-end inventory amount that is reflected on the balance sheet?

The deliverable is to be five to seven pages, single-spaced, with APA format for citations and references. The APA citations can be doubled-space. 

You must have at least 3 references.  You must include graphics or charts in your paper. The graphics or tables cannot exceed one third of the page.  You must discuss the information in the graphics or tables in the paper. 

You must provide a good background of the company and the industry. The paper must be properly organized with an introduction, body, and conclusion.

Attachment:- Audit Plan.rar

Reference no: EM131700576

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