1.Discuss major benefits associated with properly aggregating audit.

2.Discuss why Auditor's need to be diligent in ensuring that different business segment's financial statements properly reconcile to the consolidated financial statements.

3.Discuss the objective of analytical procedures used in the overall review stage of the audit.

4.Some of the more common warning signals of financial distress include negative information about;

i. Asset composition;

ii. Debt levels;

iii. Cost structure;

iv. Equity position:

Provide three examples of each and briefly discuss the relation between the warning signals.

5.Auditors use a number of common ratios to assess the financial performance of a company.These ratios fall into five broad categories:

Profitability ratios:

Asset management ratios:

Liquidity ratios:

Debt management ratios:

Market value ratios

Discuss the five broad categories listed above.