* I need some help to make a project Audit planning report, for any American firms.

1. The student should discuss the risks associated with a public company

2. The student should develop an audit plan.

3. The student should complete an audit.

4. The student should prepare written paper at least

10-15 pages in APA format to describe steps taken in planning

audit, testing of internal controls and substantive testing,

and conclusions drawn.

5. Outside research and regulations followed should be properly

documented.

Make sure to use professional skepticism.

Review at a minimum:

o AS 1101 (AS 8)

o AS 2101 (AS 9)

o AS 2105 (AS 11)

o AS 2110 (AS 12)

o AS 2810 (AS 14)

o AS 1105 (AS 15).

o As well as any other appropriate regulation.

*And some of what we need included in this project

What risk may be material?

What assertions need to be obtained

Existence or occurrence, completeness, valuation or allocation,

rights and obligations, & presentation and disclosure)

What types of risk might exist? (i.e. inherent or control)

What is the risk of fraud? (i.e. pressures of management-financial

stability or profitability threaten by economic, industry, or entity

operating conditions or excessive pressures exist for management

to meet requirements or expectations of third party or for incentive

goals; opportunity; and attitudes/rationalizations.

What evidence would be needed gathered to gain confidence of the assertions? (i.e. inspection of documents/records/asset, taking physical inventory, observation, performing walkthroughs, inquiry of employees/audit committee/major customers or suppliers/internal auditors, predecessor auditors, confirmation - how (fill in amount/leave blank) and who (large accounts, zero balances, inactive accounts), performing cutoffs, recalculation, verifying managements estimates, re-performance, analytical procedures using what data?) Remember to consider relevance and reliability of evidence.

How should the items be selected for testing? (i.e. select all items, select specific items, audit sampling, surprise or unannounced visit, after close out/cutoff)

What are the results of the testing?