This report discusses the risks faced by Steel Limited, an Australian company that produces and exports steel to India. The report highlights the risks associated with the introduction of a new IT system, payment issues with debtors, and the impact of foreign exchange on sales. The report also suggests specific audit procedures to be undertaken to mitigate these risks. The subject of the report is auditing and assurance, and the course code and college/university are not mentioned.

Case Study 2 - Auditing

Planning the audit of Steel Limited, an Australian-owned company that produces and exports steel to India, considering issues such as delays in shipments, customer complaints about the quality of steel, and overdue payments.

Report on risks: Indian economy downturn affects Australia's forward orders, exchange loss due to rupee depreciation, payment issues with Indian debtors due to poor quality iron ore.

Audit Planning and Analysis for Steel Limited, Australia

This memorandum assesses the organizational factors that can increase the audit risk in Forest Limited. It discusses the three accounts that are subjected to increase the audit risk and the reasons behind them. The accounts are Accounts Payable account, Accounts Receivable account and Inventory account. The audit approach includes evaluation of internal control and conducting substantive audit tests.

Hartpury University and Hartpury College

Audit Risk Assessment of Forest Limited

Audit Planning of Forest Limited

This document discusses the control weaknesses in the sales and debtors' procedures of a company, their implications, and suggests ways for improvement. It highlights issues such as lack of formal procedures, inaccurate recording of transactions, and difficulties in chasing outstanding amounts. The document also provides recommendations to mitigate risks and improve cash flow.

Control Weaknesses in Sales and Debtors' Procedures: Implications and Improvements

This memo outlines three key accounts of Almond Limited that are at risk of material misstatements and provides recommendations for audit approaches.

Auditing and Assurance

Auditing, Assurance and Risk Assessment

This memo provides recommendations for audit planning and procedures for Almond Limited, including risk assessment, customer complaints, IT issues, and currency decline.

Curtin University

Audit Planning and Procedures for Almond Limited

Financial Reporting

This report is an audit planning report for Cyan Enterprises prepared by an audit senior. It includes materiality calculation, audit procedures, and fraud risk analysis. The report identifies critical accounts that require audit attention and the corresponding risks and assertions. The audit procedures to be undertaken for each account are also mentioned.

Audit Planning and Analysis for Steel Limited, Australia

End of preview

Audit Risk Assessment of Forest Limited

Audit Planning of Forest Limited

Control Weaknesses in Sales and Debtors' Procedures: Implications and Improvements

Auditing and Assurance

Audit Planning and Procedures for Almond Limited

Audit Planning Report for Cyan Enterprises

Audit Planning and Analysis for Steel Limited, Australia

End of preview

Audit Risk Assessment of Forest Limitedlg...

Audit Planning of Forest Limitedlg...

Control Weaknesses in Sales and Debtors' Procedures: Implications and Improvementslg...

Auditing and Assurancelg...

Audit Planning and Procedures for Almond Limitedlg...

Audit Planning Report for Cyan Enterpriseslg...

Audit Risk Assessment of Forest Limited

Audit Planning of Forest Limited

Control Weaknesses in Sales and Debtors' Procedures: Implications and Improvements

Auditing and Assurance

Audit Planning and Procedures for Almond Limited

Audit Planning Report for Cyan Enterprises