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HI6026 - Audit,Assurance & Compliance | Financial Report

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Holmes Institute Sydney

   

Audit, Assurance and Compliance (HI6026)

   

Added on  2020-03-13

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We discussed in the assignment, three questions, that are based on analytical procedures for the financial report information of DIPL corporations, and audit plan types of the systematic risks based on the financial declaration, risk factors, and misstatements arising.

HI6026 - Audit,Assurance & Compliance | Financial Report

   

Holmes Institute Sydney

   

Audit, Assurance and Compliance (HI6026)

   Added on 2020-03-13

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Running head: AUDIT ASSURANCE AND COMPLIANCEAudit Assurance and ComplianceName of Student:Name of University:Author’s Note:
HI6026 - Audit,Assurance & Compliance | Financial Report_1
1AUDIT ASSURANCE AND COMPLIANCETable of ContentsAnswer to Question 1:.....................................................................................................................2Answer to Question 2:.....................................................................................................................3Answer to Question 3:.....................................................................................................................5References........................................................................................................................................8
HI6026 - Audit,Assurance & Compliance | Financial Report_2
2AUDIT ASSURANCE AND COMPLIANCEAnswer to Question 1:Application of analytical procedures to the financial report information of DIPL The various types of the information in the financial report has been based on DIPLcorporations and aimed to develop the relevant audit plan. The audit plan is also taken intoaccount as per the guideline followed based on the audit process. In common parlance, theassessor has been get benefitted with the reasonable degree which has been conducive in avertingthe misunderstanding with the relevant clientele. The different types of the analytical approachhave been further based on the various types of the considerations made with the specificapproach of the financial decisions. It has been important for the purposes of the various types ofthe considerations are seen to be important for taking business decisions (Cannon and Bedard2016). The main form of the analytical approach has been based on common sizing and theanalysis with the reference point. This reference point has been helpful for the comparison of thefinancial statements which has been seen to be based on the comparisons of the financialdeclaration. This is considered important for audit plan.Explanation of the way the results influence planning decisions for the auditThe results of the decisions has been based on the audit planning which has beenidentified to be necessary for the various types of the analytical approach important indisseminating information as per the financial statements. For example, the main outcome of theratio for DIPL corporations is seen to be 1.5 in 2015, 1.42 in 2013 and 1.46 in 2014. Theprofitability impact has been shown with 0.068 in 2013, 0.60 in 2014 and 0.06 in 2015. It has
HI6026 - Audit,Assurance & Compliance | Financial Report_3

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