logo

Audit Reporting for Reserved Retail

   

Added on  2020-05-28

7 Pages1296 Words124 Views
 | 
 | 
 | 
Running head: AUDIT REPORTINGAUDIT REPORTINGName of the Student:Name of the University:Author’s Note:Table of Contents
Audit Reporting for Reserved Retail_1

1AUDIT REPORTINGXI. Memorandum.......................................................................................................................2XII. Opinion of the Auditor.......................................................................................................3XIII. Letter of the Auditor to Board...........................................................................................3XIV. Quality Control Audit Report...........................................................................................5Reference....................................................................................................................................6
Audit Reporting for Reserved Retail_2

2AUDIT REPORTINGXI. Memorandum Prepared By: ____ Date: _____ Reviewed by: _____Date: _____The main purpose of this audit memorandum is to make the audit process more effective andefficient. The main purpose of conducting the audit is ensure that the financial statements ofReserved retail is showing true and fair view and the financial statements is free from anydiscrepancies. This memorandum is subdivided into four main categories:1.Introduction: The audit is being conducted on Reserved Retail Company whichoperates in Poland and operates polish clothing store and has a number of branches inseveral countries.2.Management concerns: As per the audit process the main concern of the company isthe internal control system of the business. The management is conducting an audit isto ensure that there is no frauds occurring and the financial statements is showing trueand fair view.3.Risk Assessment: The risks which arise as per the complexity of audit procedures isaudit risks which depends on the nature of the audit and materiality risk and variousbusiness risks which arises in business (Johnstone, Gramling and Rittenberg 2013).4.Nature and Scope of Audit: The audit will be conducted while taking intoconsiderations the nature of the business which is clothing industry. The auditor willalso be considering the internal control and management policies and representationswhile collecting audit evidences (Knechel and Salterio 2016). The scope of auditmeans the timing and collections of evidences in the process of audit.
Audit Reporting for Reserved Retail_3

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents