Write a memo on Standards related to employee fraud and the audit of cash.

1. Select a public company that you will be auditing. This should be a public company that will have financial statements available.

2. Research your company sufficiently to understand its business model, products, customers, vendors and management/directors. Read the most recent financial statements to gain an understanding of the types of assets and liabilities on the balance sheet.

3. Write a memo on Standards related to employee fraud and the audit of cash.

4. The memo should be addressed to the Audit Committee Chair, the members of the audit committee, and the CFO. You will need to use their names, so research who they are. The memo is from you, as the Audit Partner.

6. Research the appropriate standards at www.aicpa.org and www.pcaob.org. Read them and refer to the chapter material and any other resource to help you research and understand the requirements of the standard.

7. Write up the memo as a way of explaining to your client how the standard will be followed on the upcoming audit. For example, if you are auditing Walmart and you have selected the topic of External Confirmations (Standards AU 505 and PCAOB AU 330) you might write a memo that references the many accounts that must be confirmed because each store has one. Explain the document you will use for this and how the mailing will comply with the standard. If you chose the same standard for a company like Caterpillar, you would probably do less confirmation and can discuss similar details but referencing fewer accounts.

8. The memo should be one page. Do not include the verbiage of the standard in the memo. Reference the standard by number. The memo should be the explanation of the pertinent