1:23 Aud December Assignment DOCX - 16 KB AUDIT PLANNING LETTER This is a group assignment except where students have taken This letter is to be in a form of report: A report made by Manager (your group) to the director of the firm on proposing and accepting audit of a new client. You are required to:- 1. Find a real company and propose it as a client 2. Find out about the company on its website and give the partner an introduction and why the firm should take up the audit 3. During the next week, on video as well as live session we will cover the ethical considerations and steps to be followed while making the decision. So your group will address all the ethical considerations in the report 4. You will also mention the areas to be covered in the audit. 5. Format should include: Addressing the director (You can name your audit firm) Subject of report Introduction of the Company Areas to be covered under the audit (Look into the balance sheet and Income statements for this information) Potential threat to independence Any outside expertise required Note on Predecessor (why he/she left this audit. You may think of any ethical considerations here) * Conclusion whether the audit can be accepted or not 6. Marking. This is a 15 marks assignment for each member of the group. The content carries 12 marks Presentation of the report and flow carry 3 marks. Do it in Times New Roman font size 12 7. Aim of this assignment is to give an in depth practical exposure of audit planning to the students and in the process understanding the audit process. 8. Deadline - Your groups will submit this assignment on Monday i.e. 14 of December Open Office >9 1:23 Aud December Assignment DOCX - 16 KB AUDIT PLANNING LETTER This is a group assignment except where students have taken This letter is to be in a form of report: A report made by Manager (your group) to the director of the firm on proposing and accepting audit of a new client. You are required to:- 1. Find a real company and propose it as a client 2. Find out about the company on its website and give the partner an introduction and why the firm should take up the audit 3. During the next week, on video as well as live session we will cover the ethical considerations and steps to be followed while making the decision. So your group will address all the ethical considerations in the report 4. You will also mention the areas to be covered in the audit. 5. Format should include: Addressing the director (You can name your audit firm) Subject of report Introduction of the Company Areas to be covered under the audit (Look into the balance sheet and Income statements for this information) Potential threat to independence Any outside expertise required Note on Predecessor (why he/she left this audit. You may think of any ethical considerations here) * Conclusion whether the audit can be accepted or not 6. Marking. This is a 15 marks assignment for each member of the group. The content carries 12 marks Presentation of the report and flow carry 3 marks. Do it in Times New Roman font size 12 7. Aim of this assignment is to give an in depth practical exposure of audit planning to the students and in the process understanding the audit process. 8. Deadline - Your groups will submit this assignment on Monday i.e. 14 of December Open Office >9
