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Assignment 2 Instructions Answer all the questions below . When complete , send your responses to the UPEN Learning, Faculty Member for grading . Be

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Assignment 2 Instructions Answer all the questions below . When complete , send your responses to the UPEN Learning, Faculty Member for grading . Be sure to include your name , the course Code , assignment number , and the date of submission on the title page of Your assignments . Number all the pages of your assignments . Name Your assignment file as follows : course number_ your surname _ assignment number_ date . For example: A [ [ T 4271 _ LEE_ Assignment ?_ 1 1 June 2015 This assignment is worth 10% of your final grade Question 1 (9 marks ) 1 . One step in the planning phase of an audit is to obtain information about the* client's legal obligations . Identify three types of legal documents and records that auditors examine to obtain this information .* 2. Discuss the audit - relevant information contained in each of these types of documents that an auditor should be aware of early in the audit . Question 2 ( 10 marks ) The audit risk model has become the commonly used basis for audit planning . The following are independent situations that could have an effect on various components of the audit risk model . Required For each situation , identify the element is ] of the audit risk model " that is , audit risk, inherent risk , control risk , and detection risk; that is fare ; most likely to be directly affected and the nature of the change in risk levels ( increase or decrease ; relative to a typical audit. Explain Your reasoning* 2 . A company provides all customers with the option to return unused goods within two weeks of the purchase

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