Audit plan, Cost Accounting

Assignment Help:

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


Related Discussions:- Audit plan

Employers retirement plan, Amy earns $35,000 working part time. Consequentl...

Amy earns $35,000 working part time. Consequently, she is not eligible to participate in her employer's retirement plan or health insurance program. Amy's expenses are summarized a

the opportunity cost rate is 8 percent, Find the following values for a si...

Find the following values for a single cash flow: a. The future value of $500 invested at 8 percent for 1  year b. The future value of $500 invested at 8 percent for 5 years

Methods of cost estimation, Methods of Cost Estimation We will conside...

Methods of Cost Estimation We will consider given cost estimation methods commonly employed, namely as: a. High Low Activity method b. Engineering Analysis c. Account

Differential cost analysis, Effects of differential cost analysis in decisi...

Effects of differential cost analysis in decision making

Evaluate the balance in the patent account, Banana Corporation had the foll...

Banana Corporation had the following transactions relating to a patent: January 1, 2010: Purchased patent for $2,000,000. The patent had fifteen years remainnig although Banan

Calculate an appropriate absorption rate, Three of the cost items that are ...

Three of the cost items that are included in the production overhead for a factory for a period are: Machine maintenance labour $33,600 Power

Estimate the manufacturing cost for bearing housing, Estimate the manufactu...

Estimate the manufacturing cost for a bearing housing following the Formula Student Costing Scheme.  Dimensions and materials of the bearing housing will depend on your student

Critical thinking about cvp, The Critical Thinking about CVP is described b...

The Critical Thinking about CVP is described below CVP is more than just a mathematical tool/device to calculate values such as the break-even point. It can be used for the cri

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd