• Create a framework for your audit procedure using the Audit Risk Approach. Your framework should include the following:
  • At least 3 examples of how you would mitigate risk in your audit
  • At least 3 accounts or areas that you would focus your attention on for this audit
  • An outline of tests and procedures that you would employ based on your company
  • A detailed analysis of the sampling techniques that you would utilize for each of the 3 accounts or areas that you chose
  • An explanation of the type(s) of documentation that you would require as audit evidence
• Discuss the levels of assurance that can be provided on audit reports.
• Explain how the internal controls of a company can impact the overall business.
  • Define 2 internal control areas that you would focus on with your business.