CASE 11.1 The Runners Shop Briefly answer, required questions related to this case: 1-3 with approximately 30 to 45 words.

REQUIRED

[1] Describe the purposes of audit documentation and explain why each purpose is important.

[2] Review Green and Brown, LLPs audit documentation guidelines and explain why an audit firm would want to include each of the listed items in its audit documentation.

[3] Review the audit documentation prepared by Green and Brown, LLP, related to TRSs Notes Payable and list deficiencies on the enclosed schedules.

Will not accept plagiarized work from other sites, I could have done thesame thing.

Briefly answer, required questions related to this case: 1-3 with approximately 30 to 45 words. REQUIRED [1] Describe the purposes of audit documentation and explain why each purpose is important. [2] Review Green and Brown, LLP's audit documentation guidelines and explain why an audit firm would want to include each of the listed items in its audit documentation. [3] Review the audit documentation prepared by Green and Brown, LLP, related to TRS's Notes Payable and list deficiencies on the enclosed schedules. GREEN AND BROWN, LLP FIRM GUIDELINES - AUDIT DOCUMENTATION Provided below are firm guidelines related to the preparation of audit documentation: Title - each schedule/document included in the audit documentation should indicate the client name, description of content, and year-end financial statement date. Source of schedule/document - schedules/documents prepared by the client should be clearly indicated. Work performed - each schedule/document should include the initials of the audit staff who performed work related to the schedule/document, as well as the date the work was completed. Indexing - each schedule/document should be indexed to facilitate filing and referencing between documents. Cross-referencing - information on a schedule/document shared or used on another schedule/document should be cross-referenced by indicating on both schedules/documents the index (as close to the information as possible) of the other schedule/document. Tickmark (footnote) explanations - should be included on each schedule/document to indicate the work performed. Tickmark Legend PY - Auditor agreed to prior-year audit documentation without exception. GL - Auditor agreed to 12/31/2013 general ledger and trial balance without exception. c - Auditor crossfooted amounts without exception. - Auditor added short-term and long-term portion of notes payable together without exception. Tickmark Legend PY - Auditor agreed to prior-year audit documentation without exception. GL - Auditor agreed to 12/31/2013 general ledger and trial balance without exception. rc - Auditor recomputed amount based on the terms of the note and last interest payment date without exception. - Auditor footed amounts without exception. PBC - Prepared by client. Tickmark Legend PY - Auditor agreed to prior-year audit documentation without exception. GL - Auditor agreed to 12/31/2013 general ledger and trial balance without exception. - Auditor footed amounts without exception. PBC - Prepared by client. Notes: The difference between the actual and estimated interest expense of $806.99 ($15,006.72 - $14,199.73) results from the fact that the outstanding balance for the short-term line of credit varies substantially from month to month consistent with the company's sales activity. The estimated amount is higher than the reported amount by less than 10 percent of the reported amount; therefore, no further work is needed