Audit Planning and Risk Analysis for Turnkey Creek Wines

Accounting for
Management
Decisions

1
By student name
Professor
University
Date: 25 April 2018.
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Executive Summary
In the given assignment, a report is to be prepared on the audit planning to be made for the audit
of one of the clients, named Turnkey Creek Wines. The audit planning procedures, the high-risk
areas and the comments on the internal control being maintained by the company has been
mentioned in the report which is being prepared for the manager of the audit division of the
accounting firm named Miller Yates Howarth (MYH). Besides this entire ratio computation has
been done and the major risk areas in accounts receivables, current investment, property assets
and marketing expenses has been shown in the below report. Lasly, the weaknesses in the
internal control areas pertaining to purchase and accounts payable has also been highlighted.
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Contents
Executive Summary.....................................................................................................................................2
Introduction.................................................................................................................................................4
Analysis and discussion...............................................................................................................................5
Question 1A.............................................................................................................................................5
Question 1B.............................................................................................................................................7
Question 2A.............................................................................................................................................8
Question 2B.............................................................................................................................................9
References.................................................................................................................................................11
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