Use the annual report of Ontario Lottery and Gaming Corporation (“OLG”)  2011-2012 and answer the following questions:

1. in accordance with guidelines set out in the course textbook, the preparation of a client risk profile. be advised additional research on the “legal gaming sector”, will be expected. 2. based on the development of this client risk profile, and your accompanying research, you are expected to identity, and describe thoroughly, five (5) key entity-wide (control environment- refer to the coso framework) controls you would expect to see in place at olgc. you are also expected to explain why you believe the five controls you selected are important. be sure to justify your selection based on the concept of risk-based auditing. 3. for each of these five controls you identified above, prepare in detail, the audit procedures you would use to test the adequacy of these controls. 4. select, and justify your reason (risk-based), five (5) balances that you want to test, and for each, prepare all the required audit procedures.

Answer rating: 100% (QA)

1 There are a number of risks associated with the legal gaming sector including regulatory risk financial risk and rep ut ational risk Reg ulatory risk arises from the fact that the gaming industry is ... View the full answer