Audit plan, Cost Accounting

1. You are required to download the latest annual report published by one of the following institutions:

- Adult Multicultural Education Services

- Centre for Adult Education

2. Using the steps set out in Arens et al. (2010), plan the audit for the entity you have chosen. You must be as specific as possible when developing your audit plan.

3. You have accepted the appointment as auditor and communicated your decision through an engagement letter. The engagement letter includes, among other things, the scope of the audit. The audit fee is $65,000. You are now preparing the audit plan for the audit partner's approval.

Required

Using the steps set out in Arens et al. (2010) develop the audit plan the audit for entity. Your audit plan must include the followings:

1. Executive summary

2. Introduction

3. Audit plan with the following headings:

- Understand the client's business and industry

- Assess client business risk

- Perform preliminary analytical procedures

- Set materiality and assess acceptable audit risk and inherent risk

- Understand internal control and assess control risk

- Gather information to assess fraud risk

- Develop overall audit plan and audit program

4. Conclusion
5. Appendix
6. References

Posted Date: 3/9/2013 12:55:05 AM | Location : United States







Related Discussions:- Audit plan, Assignment Help, Ask Question on Audit plan, Get Answer, Expert's Help, Audit plan Discussions

Write discussion on Audit plan
Your posts are moderated
Related Questions
First In First Out or FIFO Method - Work in Progress This method considers merely those costs incurred throughout the recent period.  Equivalent units are calculated given a

A provision must be made in advance for those debts whose recovery is uncertain and to writing off bad debts. Each enterprise, depends on their past experience, make a provision fo

Handy-Man Services is a repair-service company specializing in small household jobs. Each client pays a fixed monthly service fee based on the number of rooms in the house. Records

#question techniques of payment under group bonus plan .

The following data (in thousands of dollars) have been taken from the accounting records of Barn Burner Corporation for the just completed year.       Sales

Example B & B Mechanical Repairs is a small, family owned partnership that specialises in the servicing and repair of motor vehicles. The business employs three qualified mecha

Budgetary Planning and Control - Accounting Techniques A budget is a   plan of action expressed in monetary terms. Therefore it is a quantified plan of what one intends to do.

Herrestad Company does produce and sell two products and the details below will be used to prepare a segmented income statement (showing the income for each product and the total)

Describe the manner in which a materials usage variance is divided into mix and yield component variances.

Find a journal article online about just-in-time inventory systems. In the subject line of your post, include the title of the article that you read. Post a link to that article wi