Question: PART II CASE STUDY (40 points) Base on the Understand the Business (UTB) and Analytical Procedure (AP) audit procedure you conducted during your group assignment,

PART II CASE STUDY (40 points) Base on the Understand the

PART II CASE STUDY (40 points) Base on the Understand the Business (UTB) and Analytical Procedure (AP) audit procedure you conducted during your group assignment, provide the following information and/or analysis: 1. From your understanding throughout the UTB process, briefly share the objectives of the business and any key performance indicators of the business for the upcoming fiscal year. How do you think it impact our current audit of this year's financial statements? 2. During your AP process, what are some of the notable items on the financial statement with the widest range of fluctuations? Do you have any reasoning for such changes? 3. Describe some of the difficulties you and your team faced while conducting UTB and analytical process during the engagement. PART II CASE STUDY (40 points) Base on the Understand the Business (UTB) and Analytical Procedure (AP) audit procedure you conducted during your group assignment, provide the following information and/or analysis: 1. From your understanding throughout the UTB process, briefly share the objectives of the business and any key performance indicators of the business for the upcoming fiscal year. How do you think it impact our current audit of this year's financial statements? 2. During your AP process, what are some of the notable items on the financial statement with the widest range of fluctuations? Do you have any reasoning for such changes? 3. Describe some of the difficulties you and your team faced while conducting UTB and analytical process during the engagement

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Please read chapter 6 and answer the questions and see the ( guide to answer number 3) For each case study, you will view the material as the student's teacher, read the information provided and...

I have done answer for task 1 and task 2, please answer for task 3,4,5 and task 6. I am going to provide you task 1 and task 2, written by me: Answer should be based on job description, given below:...

please type your response 1. 1. What audit risks were indicated as described in the case? i.e., what red flags are described that might affect your assessment of risk? Provide potential audit...

This is a sample audit tool Date: Physician: Please complete the following (information should be documented in the patient's chart) __________ Diagnosis not documented __________ Signature needed on...

Please attemp the question I have attached and I have guideline for the answers.For question 3,difference between tax evasion and avoiddance can be found in seminar 2 slides.Tax avoidance mean the...

Accounting Research Center, Booth School of Business, University of Chicago Why Do Audits Fail? Evidence from Lincoln Savings and Loan Author(s): Merle Erickson, Brian W. Mayhew, William L. Felix,...

10. An experimenter has some degree of control over the: a. independent variable. b. correlative variable. c. history effect. d. All of the above, if the experiment is conducted properly. 11. If a...

I need some *((familiar with Integrated Audit Practice case assignments))* to help me complete this assignment as soon as possible. There is each worksheet that needs to complete missing information....

Requirements for PART I Do you see any potential areas of risk that the partners in the Briarwood City office should consider regarding RCC? In your response, consider business risk to JKN, en-...

Identify whether the following items increase, decrease, or have no impact on cash flows: increase in raw materials decrease in accounts payable decrease in accounts receivable increase in finished...

Eddy purchased a machine to use in his business. The purchase price was $720,000. Eddy paid $2,100 in sales tax and $4,600 for delivery and installation. About six months after the asset was placed...

An article in the New York Times (D. Rosato, Worried about the numbers? How about the charts?, New York Times, 15 September 2002, Business 7) reported on research done on annual reports of...

Which of the following is not a theory of discrimination under Title VII? Multiple Choice Disparate treatment Unclear opportunity Mixed motives Disparate impact

3. Stress often increases as we struggle with time management. How well do you manage your time? Take a few minutes and answer each question below. Then spend time developing a time management...

b. Do you maintain a planning calendara single place to record daily appointments, deadlines, and tasks?

4. Try a one-day news fast. Do not read, watch, or listen to any news for a day and see how you feel.1. If you were a GE employee and nominated to lead one of the nine self-managed teams, what would...