Auditing and Professional Practice Assignment

Auditing and
Professional Practice
Assignment

1
By student name
Professor
University
Date: 25 April 2018.
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Contents
Introduction.................................................................................................................................................3
Discussion and Analysis...............................................................................................................................4
Conclusion & Recommendation..................................................................................................................8
References.................................................................................................................................................10
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Introduction
A report has been prepared on one of the small entity for which the audit planning is to be done.
The trial balance of the company has been given from which the materiality of the entity needs to
be determined. Besides this, the preliminary analytical review of the company has been done and
variance analysis and the common size income statement has been prepared based on the input
for both the given year 2016 and 2017 (Dichev, 2017). The report highlights the critical accounts
where major anomalies can be seen and the audit procedures to be employed for each of these
accounts has been shown. At the end, the fraud risk analysis has also been done for the entity to
check the possibility of fraud, material misstatements, errors and other omissions, if any, in the
entity.
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