Question
I have a paper due Sunday and I need some help creating an outline to write about here is what I need help with Prompt:
I have a paper due Sunday and I need some help creating an outline to write about here is what I need help with
Prompt: Your organization has decided to move forward with the audit of EarthWear Clothiers. As lead auditor, you will select one of EarthWear Clothiers' business objectives and create audit plan of their financial statements. The business objective is:
- Reduce delivery and distribution time of products and services by adding additional warehouse locations
You will use the information from your preliminary review and auditing standards to support your plan. Using your selected business objective, you will create audit plan of the organization's financial statements that addresses the following: business risks, management assertions, audit risk, internal controls, and the effect on audit procedures. You will support your plan with the appropriate auditing standards. You will also determine materiality by conducting a preliminary risk assessment, and you will explain which factors were used in making this determination. You can obtain the ICFR and materiality guidelines on the Willis & Adams website. (Clicking the link initiates an automatic download of a ZIP file. You will need a utility to unzip the archive before you can use it as intended.)
II. Planning the Audit: You will select one of the organization's business objectives and create audit plan of the organization's financial statements. Use the information from your preliminary review and auditing standards to support your plan.
A. Using your selected business objective, create audit plan of the organization's financial statements that addresses the following, and support each with the appropriate auditing standards:
- Business risks
- Management assertions
- Audit risk
- Internal controls
- Effect on audit procedures
B. Determine materiality by conducting a preliminary risk assessment, and explain which factors were used in making this determination.
Here is the link to the website with financial statements
http://lectures.mhhe.com/earthwear/analysis.htm#
The paper needs to be two to three pages long
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