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Audit Planning
Essay specific features
Written by:
Albert W
Date added:
March 29, 2014
Level:
Grade:
A
No of pages / words:
3 / 601
Was viewed:
9880 times
Rating of current essay:
Essay content:
Ltd on the basis of understanding its business and industry. Further, the audit team had identified and assessed risks of material misstatement based on the following factors;
Account Type Action Taken
The organization (Sealant Pty Ltd) and its business environment Obtained comprehensive information through;
• Thorough knowledge of the business
• Methodological understanding of the audit team’s in terms of internal control...
displayed 300 characters
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The company’s relationship between the industry and the broad economic and its business environment.
Assessment Classification • The Audit focus on high risk as the major determination of the business risk.
1. Credit sales cycle and trade receivables
It is considered a high inherent risk at assertion level for the fact that the processing errors are only partially mitigated by the sales manager and credit controller...
displayed 300 characters
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