Choose a publicly traded company, and research its annual report. (If you cannot find it online, you can go to the U.S. Securites and Exchange Commission Web site and locate a copy). These results have been audited, but for this exercise, view them as if they were not.;Part I;Deliverable Length: 1,000;Read the annual report and other news items related to the company, and then complete the following tasks.;Create a framework for your audit procedure using the Audit Risk Approach. Your framework should include the following;At least 3 examples of how you would mitigate risk in your audit;At least 3 accounts or areas that you would focus your attention on for this audit;An outline of tests and procedures that you would employ based on your company;A detailed analysis of the sampling techniques that you would utilize for each of the 3 accounts or areas that you chose;An explanation of the type(s) of documentation that you would require as audit evidence;Discuss the levels of assurance that can be provided on audit reports.;Explain how the internal controls of a company can impact the overall business.;Define 2 internal control areas that you would focus on with your business;Part II;Deliverable Length: 800;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;Explain the process that you will utilize to formulate your audit opinion.;Discuss the methodology that you would employ if misstatements are discovered.;Explain the common ethical issues that you could encounter during an audit.
Paper#75120 | Written in 18-Jul-2015Price : $22