please answer the relevant areas accurately and the answers should address the matter well.
Background information for the continuous case study, Reliable Printers Ltd (RPL), is contained in the Appendix of the textbook. If you do not have the textbook at hand, please check QUT library where the e-textbook is freely available for QUT students. $11 Comprehensive Case Q] .a As part of your planning process, you are considering whether you will need to use the services of an expert in the audit of RPL. Based on the background information contained in the case, write a note to the audit partner to explain whether it will be necessary to use the work of an expert in the audit of RPL. Q1 .b You are conducting your preliminary analytical procedures based on the background information for RPL. Based on the ratios you completed as below, write a note to explain how your results inuence your planning decisions for the audit for the year ending 30 June 2018. m - - - _ Q1.e As part of your audit of RPL, you are considering the risk that fraud may have occurred. Based on the background information, write a note I to identify and explain key fraud risk factors relating to misstatements arising 'om fraudulent nancial reporting to which RPL may be susceptible. 0 Explain how the risk factors identied would affect the conduct of the audit. Ql.d As part of your audit of RPL, you are reviewing internal controls over RPL's print-ondemand business. Based on the background information, Write a note to: 0 identify and explain two key internal control weaknesses where control activities should be present in order to prevent material misstatements being undetected and/or uncorrected, but are not present a For each control weakness identied, identify the key account balance and key assertion at risk and explain why it is at risk. Q1.e During the current year, RPL has expanded its earnings base by having titles available as searchable e- books that can be downloaded directly by readers, and by acquiring Medical Books Ltd (MBL) to access the copyright that MBL held over printing a large range of specialised medical textbooks. Based on the background information, write a note to: 0 identify the key assertion at risk for each of deferred ebook storage revenue and the medical book copyght 0 Design appropriate substantive tests of details for deferred e-book storage revenue and the medical book copyright Q1.f You are now at the completion stage of the audit of RPL, with the auditor's report to be signed on 15 August 2018. On 10 August, while nalising the audit le, the following additional information has come to your attention. (1,) On 10 June 2018, RPL placed an order with one of its Asian suppliers for $50 000 worth of highquality paper for a glossy publication to be printed in July 2015. The order of paper was shipped on 15 June but, due to severe storms, the ship carrying the paper ran aground in Indonesia. On 30 June, salvage experts were still unable to say when the ship could be removed or its cargo unloaded, although it was expected that the paper would have suffered severe water damage, and it was uninsured. Based on the background material and the information above, write a note to identify and explain whether this situation will require adjustment or disclosure in the 2018 nancial report, or require no amendment to the nancial report. Q1 -3 You are in the process of nalising the audit of inventory of RPL for the year ended 30 June 2018. You are concerned that during the year the balance of the allowance for stock obsolescence has been written back into prot. As part of your audit procedures, you researched companies in the same industry as RPL to determine whether they make an allowance for stock obsolescence as a matter of practice. Your research has revealed that it is common for entities undertaking similar printing activities to make a provision for the effects of storage hazards, as paper is subject to deterioration during storage of between 4 per cent and 5 per cent. Accordingly, you have formed the view that an allowance for obsolescence should be reinstated, for inventory to be recorded at its true and fair value, and that the amount now required is $188 000. You have approached William Jackson with a view to RPL reinstating the allowance for obsolescence at $188 000. William has advised you that the board is satised with their decision to no longer provide 3
