Friday, 2 May 2014

Auditing Reporting

it has to be original in APA format base on outline below. will pay up to $50.00



Deliverable Length:Auditing Reporting

Part 1= 1000 to 1200 words and part 2 =  800-1000 words
  
Due Date: 
5-3-14 @ 3:00pm

Weekly tasks or assignments (Individual or Group Projects) will be due by Monday and late submissions will be assigned a late penalty in accordance with the late penalty policy found in the syllabus. NOTE: All submission posting times are based on midnight Central Time.
Key Assignment Draft
Choose a publicly traded company and research its annual report. (If you cannot find it online, you can go to the U.S. Securities and Exchange Commission Web site and locate a copy). These results have been audited, but for this exercise, they will be viewed as if they have not.
Read the annual report and any other news items involving 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: 800–1,000 words
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.
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