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Design and explain how to execute substantive procedures

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Reference no: EM132304716

Teams for Chapter presentations and what needs to be covered in presentations

Team 1: Michael, Dylan Terrance and Dylan Saeed - Chapter 10 - Week 12

10.1 explain the relationship between the risk of material misstatement for a significant account and the extent and timing of substantive procedures

10.2 design and explain how to execute substantive procedures to address audit risk related to cash

10.3 design and explain how to execute substantive procedures to address audit risk related to trade receivables

Team 2: Jeff, Hengyi, Yun Jiaqi and Jiajun - Chapter 10 - Week 12

10.4 design and explain how to execute substantive procedures to address audit risk related to inventory

10.5 design and explain how to execute substantive procedures to address audit risk related to property, plant and equipment

10.6 design and explain how to execute substantive procedures to address audit risk related to payables

Team 3: George, Song and Kullaya - Chapter 10- Week 12

10.7 explain how substantive testing is used for other balance sheet accounts

10.8 explain how to assess the results of substantive procedures to determine whether additional substantive tests are necessary.

Team 4: Kim, Chloe and Wee lar - Chapter 11 - Week 13

11.1 explain the relationship between the overall risk assessment for a significant account and the extent and timing of substantive procedures, and the differences between auditing income statement and balance sheet accounts

Team 5: Lachlan, Dylan Ly and Nichole - Chapter 11 - Week 13

11.2 design and explain how to execute substantive procedures to address audit risk related to revenue

Team 6: Priskila, Olivia and Samah - Chapter 11- Week 13

11.3 design and explain how to execute substantive procedures to address audit risk related to cost of sales and other significant expenses

11.4 explain how to assess the results of the substantive procedures to determine whether additional substantive tests are necessary.

Team 7: Media, Nermeen, Victoria and Tania - Chapter 12 - Week 14

12.1 explain the procedures performed as part of the engagement wrap-up, including gathering and evaluating audit evidence

12.2 explain the considerations when assessing the going concern assumption used in the preparation of the financial report

Team 8: Fateme, Sanjida and Josh - Chapter 12 - Week 14

12.7 discriminate between the types of modifications to an audit report

12.8 explain why Corporations Act breaches are important to understand

12.9 explain what reporting is required to management and those charged with governance.

Team 9: Sidak, Avi and Daniel - Chapter 12 - Week 14

12.3 assess the two types of (material) subsequent events to determine what effect they have on the financial report (if any)

12.4 evaluate misstatements and explain the difference between quantitative and qualitative considerations when evaluating misstatements

Team 10: Omar, Minh Tri and Luke - Chapter 12 - Week 14

12.5 evaluate conclusions obtained during the performance of the audit and explain how these conclusions link to the overall opinion formed on the financial report

12.6 explain the components of an audit report

Reference no: EM132304716

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len2304716

5/13/2019 9:46:13 PM

The teams will research a topic and present the key learning's to the class by way of PowerPoint presentation. The Chapter Presentations will start from week 12 and will finish by week 14.

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