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HI6026 - Audit, Assurance and Compliance | Holmes Institute | Assignment

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Holmes Institute Sydney

   

Audit, Assurance and Compliance (HI6026)

   

Added on  2020-03-02

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HI6026 - The following document is based on your reading and understanding the document. The paper has some questions answer based on your learnings. The paper has following questions 1. Explain how results influence planning decisions for the audit if analytical procedures to the financial report information of DIPL for the last three year is applied. 2. Conduct risk assessment and find inherent  risk factors that arise from the nature of DIPL’s business operations.

HI6026 - Audit, Assurance and Compliance | Holmes Institute | Assignment

   

Holmes Institute Sydney

   

Audit, Assurance and Compliance (HI6026)

   Added on 2020-03-02

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Running head: AUDIT ASSURANCE AND COMPLIANCEAudit Assurance and ComplianceName of Student:Name of University:Author’s Note:
HI6026 - Audit, Assurance and Compliance | Holmes Institute | Assignment_1
1AUDIT ASSURANCE AND COMPLIANCETable of ContentsAnswer to Question 1:.....................................................................................................................2Answer to Question 2:.....................................................................................................................3Answer to Question 3:.....................................................................................................................5Reference.........................................................................................................................................9
HI6026 - Audit, Assurance and Compliance | Holmes Institute | Assignment_2
2AUDIT ASSURANCE AND COMPLIANCEAnswer to Question 1:Application of analytical procedures to the financial report information of DIPL The report has emphasized on the different aspects of DIPL which has stated on thedevelopment of the audit plan. The main implications of the audit plan have been further seen tobe based on the guidelines which have been related to undertaking of the overall audit process. Ingeneral the assessor has considered the reasonable aversions which have been related to theclientele misunderstanding. The different types of analytical approach have shown thedissemination of the information as per the financial declarations of the company. The importantevaluation has been based on the approach such as financial analysts, financial declarations andaccountants which are seen to be important for making business decisions (Messier 2014).The important form of the analytical approach has been further seen to be based on thecommon sizing of the analysis with the reference point. This is seen to conducive for thecomparison.Explanation of the way the results influence planning decisions for the audit The planning decision has been further seen to be assumed as per the results of theanalytical approach which has been able to state the various approach of the dissemination of thefinancial statements on the financial statements. For example, the different types of the outcomesof the ratio have been further based on the different types of the analysis based on the variousconsiderations taken from 2013. Based on the consideration of the current analysis it has beenseen that current ratio of DIPL is 1.42 in 2013, 1.46 in 2014 and 1.5 in 2015. The profitability ofthe ratio has been computed as per 0.68 in 2013, 0.60 in 2014 and 0.06 in 2015. The profit
HI6026 - Audit, Assurance and Compliance | Holmes Institute | Assignment_3

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