Hello,

I need your help with preparing an audit planning memo for a well known family own bakery chain shop. Could you please provide me with a step by step demo or a sample of an audit planning memo?

Thank you,

Scenario:

An auditor has asked to prepare a audit planning memo for a family own bakery shop.

Should consider the following:

- Risk assessment for the engagement: high, medium or low, why? Please provide identify four key risks and why/how they would increase or decrease risk.

- Approach for the engagement: substantive approach, controls

-based approach or combined

- Materiality for the engagement: what would you choose as a base and why? What factor would you use and why?