State about the audit plan contents, Financial Management

Assignment Help:

State about the Audit plan contents

1. Report requirements and terms of reference.

2. A review of business and financial position, reviewing why changes had occurred in current year.

3. Calculations for levels of materiality.

4. Risk areas highlighted including assessment of internal controls.

5. detailing overall audit approach (substantive or compliance) including deadlines andtiming.

6. A budget for time estimated for each staff member.

7.Staffing levels and request for any specialists i.e. computer based control assurance staff.

8. Reviewed and approved by manager.

9. Distribute audit plan to all staff on the audit.

 


Related Discussions:- State about the audit plan contents

Yield spread measures relative to a spot rate curve, Nominal spread o...

Nominal spread of a non-treasury bond can be defined as the difference between the bond's yield and the yield to maturity of a benchmark treasury coupon security.

Ledgers, Ledgers: Ledgers record all the entries into the Cash Books. T...

Ledgers: Ledgers record all the entries into the Cash Books. They use the concept of 'double entry' bookkeeping where every ledger entry must be accompanied by another ledger e

Show company monetary statements, It is true that company monetary statemen...

It is true that company monetary statements will often consist of narrative information about staff as a key resource. However, under accounting regulation this resource is not sho

Active management in practice, Constant Duration To ...

Constant Duration To improve a buy and hold strategy a constant average duration is imposed for the managed portfolio during the full interest rate cy

What is the expected return of cinderella''s portfolio, Question: Cinde...

Question: Cinderella invests the following sums of money in common stocks having the expected returns as detailed below: (a) What is the expected return of Cinderella's por

Types of asset-backed securities, Types ...

Types of asset-backed securities 1.  Auto Loan-Backed Securities (ALBs) 2.  Credit Card Receivab

Explain significance of the additional funds needed (afn), Explain the sign...

Explain the significance of the term additional funds needed. While the pro forma balance sheet is completed, total assets and total liabilities and equity will hardly match.

Identify following belong income statement or the balance, Identify whether...

Identify whether the following items belong on the income statement or the balance sheet. a. Interest Expense IS                                      l. Cash BS b. Prefer

Interest rates over the business cycle, Interest rates are the key de...

Interest rates are the key determinants of business cycles in emerging market countries. In the past, several economies had experienced frequent and great changes

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