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Discuss whether audit evidence gathered address risk factors identified previously, and recommend audit procedures to follow up as needed. After carefully analyzing the findings from
Discuss whether audit evidence gathered address risk factors identified previously, and recommend audit procedures to follow up as needed. After carefully analyzing the findings from audit procedures performed for earlier questions, discuss whether the evidence accumulated address the each of the significant risk factors as identified earlier in Questions Q1.A. If there is sufficient appropriate evidence to address each of the risk factors, explain what which question(s) provides such evidence and how the evidence therein addresses each of the risk factors, and no further follow-up is needed. However, if there is not sufficient appropriate evidence to address any of the risk factors, recommend and explain a specific audit procedure for the risk factor for further follow up. You must organize your responses in the following format, or you will lose credit. Organize your responses in the following format. You must the following format below and use the words underlined below as heading for each risk factor: Risk Factor No.1: Copy the Risk Factor No.1 and related explanations from your previous responses to Question Q1.A Evidence for Risk Factor No.1: Determine whether or not the evidence obtained from previous question(s) is sufficient to address the potential misstatement caused by this risk factor. If so, explain what and how the evidence from which specific prior question(s), including identifying which prior question number(s), help address this risk
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Risk Factor No1 Inventory valuation may be overstated due to potential obsolescence or impairment Evidence for Risk Factor No1 The evidence gathered from previous audit procedures sufficiently address...Get Instant Access to Expert-Tailored Solutions
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