Plan an effective audit of this unusual client

Assignment Help Accounting Basics

Reference no: EM133543676

Question: Your task is to submit a brief memo (three pages or less) that summarizes key risks in the auditareas listed below.If possible, try to quantify any differences between what the client has recordedversus what you'd expect based on your knowledge of the client.Your analysis should indicatewhether you believe the area/account(s) is likely to contain a misstatement and what the potentialmisstatement is that causes concern.

This is a risk-assessment and audit planning exercise, andyou don't have perfect knowledge of the engagement at this stage (nor would an actual auditor!).Your memo should be addressed to the engagement partner on the audit, and assist in identifyingareas of concern.Hint:Not all areas may present concerns.

Use your judgment andcommunication skills to help plan an effective audit of this unusual client.Audit areas:1.Hotel revenue2.Park admission revenue3.Accounts receivable

Reference no: EM133543676

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