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Create a framework for your audit procedure using the Audit Risk Approach. Your framework should include the following: At least 3 examples of how you
- Create a framework for your audit procedure using the Audit Risk Approach. Your framework should include the following:
- At least 3 examples of how you would mitigate risk in your audit
- At least 3 accounts or areas that you would focus your attention on for this audit
- An outline of tests and procedures that you would employ based on your company
- A detailed analysis of the sampling techniques that you would utilize for each of the 3 accounts or areas that you chose
- An explanation of the type(s) of documentation that you would require as audit evidence
- Discuss the levels of assurance that can be provided on audit reports.
- Explain how the internal controls of a company can impact the overall business.
- Define 2 internal control areas that you would focus on with your business.
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