Explain how the internal controls of a company can impact

Reference no: EM132478152 , Length: Word count: 1200

Part I

Deliverable Length: 1,000-1,200 words

Read the annual report and other news items related to 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:

Question 2: At least 3 examples of how you would mitigate risk in your audit

Question 3: At least 3 accounts or areas that you would focus your attention on for this audit

Question 4: An outline of tests and procedures that you would employ based on your company

Question 5: A detailed analysis of the sampling techniques that you would utilize for each of the 3 accounts or areas that you chose

Question 6: An explanation of the type(s) of documentation that you would require as audit evidence

Question 7: Discuss the levels of assurance that can be provided on audit reports.

Question 8: Explain how the internal controls of a company can impact the overall business.

Question 9: Define 2 internal control areas that you would focus on with your business

Part II

Deliverable Length: 800-1,000 words

Prepare an audit report for your company. Be sure to include the key elements that must be covered in a standard audit report, and discuss the circumstances surrounding each of the following:

Question 10: Explain the process that you will utilize to formulate your audit opinion.

Question 11: Discuss the methodology that you would employ if misstatements are discovered.

Question 12: Explain the common ethical issues that you could encounter during an audit.

Reference no: EM132478152

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