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Audit Risks and Challenges

   

Added on  2020-02-24

9 Pages2402 Words46 Views
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Running head: AUDIT, ASSURANCE AND COMPLIANCEAudit, Assurance and ComplianceName of the Student:Name of the University:Author’s Note:Course ID:
Audit Risks and Challenges_1

AUDIT, ASSURANCE AND COMPLIANCE1Executive Summary:The overall assignment mainly focuses in relevant audit approach, which could be used inanalysing the overall performance of DIPL. In addition, the overall financial report analysis ismainly been conducted in the assignment, where relevant ratios is been used in analysing theperformance of DIPL. This mainly raises the concern for the analyst, where relevant auditprocedure could directly help in evaluating the financial condition of DIPL. Therefore, theneeds of audit procedure are directly influenced by the financial report that is portrayed bythe company. This could directly lead to manipulations in the overall financial report, whichincrease the inheritance risk and reduce viability of the audit procedure.
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AUDIT, ASSURANCE AND COMPLIANCE2Table of ContentsQuestion 1: Results influence audit procedures.........................................................................3Question 2: Inheritance risk leading to Material misstatement risk of the company.................6Question 3a: Risk factors of the company.................................................................................8Question 3b: Identified fraud risk from the scenario.................................................................9Reference:................................................................................................................................10
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