Audit and Assurance

Running head: AUDIT AND ASSURANCE
Audit and Assurance
Name of the Student
Name of the University
Authors Note
Course ID

1AUDIT AND ASSURANCE
Executive Summary:
The present report is associated with the audit of financial statement of ABC Learning. The
report would assist the users in understanding how and when the work of audit is performed.
The report would take into the account the process of audit. The report would be dealing with
the different perspective of audit associated to ABC Learning. It represents that how the
auditor implements check on the financial books of the organization and how the material
misstatement are assessed in the financial reports. The report would conclude at last the
different trends of common size analysis, trend analysis, du point analysis and Beneish M-
Score model.

2AUDIT AND ASSURANCE
Table of Contents
Introduction................................................................................................................................5
Overview of Company:..............................................................................................................5
Company Development:.............................................................................................................6
Overall Analytical Review:........................................................................................................6
Audit scope and Approach:........................................................................................................8
Audit Planning Procedure:.........................................................................................................8
Scope of Work:..........................................................................................................................9
Control Environment Assessment:.............................................................................................9
IT General Controls Assessment:...............................................................................................9
Responsibilities related to Fraud:.............................................................................................10
Internal Audit:..........................................................................................................................10
Confirmation of Independence.................................................................................................10
Materiality:...............................................................................................................................11
Risk Assessment and Area of Audit Focus:.............................................................................11
Audit Engagement and Reporting:...........................................................................................12
Outline of Fees:........................................................................................................................12
Team of Audit:.........................................................................................................................12
Conclusion:..............................................................................................................................13
References:...............................................................................................................................14
Appendix:.................................................................................................................................16

3AUDIT AND ASSURANCE
Common Size Analysis Balance Sheet:...................................................................................16
Common Size Analysis Profit and Loss Account:...................................................................17
Trend Analysis Balance Sheet:................................................................................................17
Trend Analysis Profit and Loss Account:................................................................................18
Trend Analysis Cash Flow Statement:.....................................................................................18
Du Point Analysis:...................................................................................................................18
Beneish M-Score Model:.........................................................................................................19