Audit Report of Subsidiary Companies of Las Vegas Group Corporation
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This document provides brief audit reports of five subsidiary companies of Las Vegas Group Corporation. The audit of these five subsidiaries companies has been conducted by adhering to the international auditing standards. The document includes insights on analytical procedures and substantive procedures conducted by the auditor.
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Running head: AUDITING THEORY AND PRACTICE
Auditing Theory and Practice
Name of the Student:
Name of the University:
Authors Note:
Auditing Theory and Practice
Name of the Student:
Name of the University:
Authors Note:
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AUDITING THEORY AND PRACTICE
Contents
Introduction:....................................................................................................................................2
Auditor’s report for the group:........................................................................................................2
Section 1:.....................................................................................................................................2
Section 2:.....................................................................................................................................7
Section 3:...................................................................................................................................10
Section 4:...................................................................................................................................13
Section 5:...................................................................................................................................14
Conclusion:....................................................................................................................................15
References:....................................................................................................................................17
AUDITING THEORY AND PRACTICE
Contents
Introduction:....................................................................................................................................2
Auditor’s report for the group:........................................................................................................2
Section 1:.....................................................................................................................................2
Section 2:.....................................................................................................................................7
Section 3:...................................................................................................................................10
Section 4:...................................................................................................................................13
Section 5:...................................................................................................................................14
Conclusion:....................................................................................................................................15
References:....................................................................................................................................17
2
AUDITING THEORY AND PRACTICE
Introduction:
Audit report of a company is prepared by an independent qualified auditor to express his
independent opinion on the financial statements of the company. The opinion is formed on the
quality of financial statements and whether these statements are correctly reflecting the true and
fair picture of the company. In order to express an appropriate opinion on the financial
statements an auditor must collect necessary evidence by using substantive and analytical
procedures as per the international standards on auditing. In this document brief audit reports of
five subsidiary companies of Las Vegas Group Corporation has been provided for the readers to
assess the state of affairs and performance of these five subsidiaries in recent years.
Auditor’s report for the group:
Las Vegas Group Corporation is the largest multi-national company in USA as per the
information provided in the case study. The company has five subsidiary companies with which
it operates in different parts of the globe including Australia, New Zealand, Hong Kong,
Singapore, Malaysia, China, Japan, and Fiji. The audit of these five subsidiaries companies have
been conducted here by adhering to the international auditing standards.
Section 1:
In order to conduct the audit of an entity firstly, it is important to have knowledge about the
entity and its environment. IAASB provides that before staring out an audit it is important to
have detailed knowledge about the entity and its operations.
In this case firstly, it is clear that Las Vegas Group Corporation has its export business stretched
to different parts of the world including countries such as Australia, New Zealand, Hong Kong,
Singapore, Malaysia, China, Japan, and Fiji. Thus, the operations are bound to be conducted in
AUDITING THEORY AND PRACTICE
Introduction:
Audit report of a company is prepared by an independent qualified auditor to express his
independent opinion on the financial statements of the company. The opinion is formed on the
quality of financial statements and whether these statements are correctly reflecting the true and
fair picture of the company. In order to express an appropriate opinion on the financial
statements an auditor must collect necessary evidence by using substantive and analytical
procedures as per the international standards on auditing. In this document brief audit reports of
five subsidiary companies of Las Vegas Group Corporation has been provided for the readers to
assess the state of affairs and performance of these five subsidiaries in recent years.
Auditor’s report for the group:
Las Vegas Group Corporation is the largest multi-national company in USA as per the
information provided in the case study. The company has five subsidiary companies with which
it operates in different parts of the globe including Australia, New Zealand, Hong Kong,
Singapore, Malaysia, China, Japan, and Fiji. The audit of these five subsidiaries companies have
been conducted here by adhering to the international auditing standards.
Section 1:
In order to conduct the audit of an entity firstly, it is important to have knowledge about the
entity and its environment. IAASB provides that before staring out an audit it is important to
have detailed knowledge about the entity and its operations.
In this case firstly, it is clear that Las Vegas Group Corporation has its export business stretched
to different parts of the world including countries such as Australia, New Zealand, Hong Kong,
Singapore, Malaysia, China, Japan, and Fiji. Thus, the operations are bound to be conducted in
3
AUDITING THEORY AND PRACTICE
international currencies thus, specific attention must be given on translation of foreign exchange
transactions and the policy used by the company to state the transactions affected in foreign
currencies.
Listed in NYSE, Carpet International Limited manufactures and sells carpet in different parts of
the country and around the globe.
The performance and state of affairs of the company can be assessed by using the analytical
procedures effectively. Based on the findings of analytical procedures the auditor will conduct
substantial procedures. Thus, it would not wrong to state that the extent of substantive
procedures would depend on the findings of analytical procedures for the subsidiary of Las
Vegas Group Corporation. In fact the substantive procedures for each one of the five subsidiary
companies would depend on the findings of analytical procedures.
Analytical procedure:
Analytical procedures are methods used to assess the abnormal and normal fluctuations in the
financial position and performance of an organization. It helps in identifying areas within
financial statements that could be materially misstated. Ratio analysis, analysis of financial
statements are included in analytical procedures.
Calculation of profitability, liquidity and solvency ratios of Carpets International Limited:
Total Current Assets 8,26
1.00
6,04
8.00
Total Current Liabilities 8,14
3.00
10,58
3.00
AUDITING THEORY AND PRACTICE
international currencies thus, specific attention must be given on translation of foreign exchange
transactions and the policy used by the company to state the transactions affected in foreign
currencies.
Listed in NYSE, Carpet International Limited manufactures and sells carpet in different parts of
the country and around the globe.
The performance and state of affairs of the company can be assessed by using the analytical
procedures effectively. Based on the findings of analytical procedures the auditor will conduct
substantial procedures. Thus, it would not wrong to state that the extent of substantive
procedures would depend on the findings of analytical procedures for the subsidiary of Las
Vegas Group Corporation. In fact the substantive procedures for each one of the five subsidiary
companies would depend on the findings of analytical procedures.
Analytical procedure:
Analytical procedures are methods used to assess the abnormal and normal fluctuations in the
financial position and performance of an organization. It helps in identifying areas within
financial statements that could be materially misstated. Ratio analysis, analysis of financial
statements are included in analytical procedures.
Calculation of profitability, liquidity and solvency ratios of Carpets International Limited:
Total Current Assets 8,26
1.00
6,04
8.00
Total Current Liabilities 8,14
3.00
10,58
3.00
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AUDITING THEORY AND PRACTICE
Current ratio 1.
01
0.
57
Acid test ratio
Current assets less inventories 4,637.
00
4,001.
00
Total Current Liabilities 8,14
3.00
10,58
3.00
Acid test ratio 0.
57
0.
38
Debt to equity ratio
Debt 22,000.
00
20,000.
00
Equity 8,334.
00
6,372.
00
Debt to equity ratio 2.
64
3.
14
AUDITING THEORY AND PRACTICE
Current ratio 1.
01
0.
57
Acid test ratio
Current assets less inventories 4,637.
00
4,001.
00
Total Current Liabilities 8,14
3.00
10,58
3.00
Acid test ratio 0.
57
0.
38
Debt to equity ratio
Debt 22,000.
00
20,000.
00
Equity 8,334.
00
6,372.
00
Debt to equity ratio 2.
64
3.
14
5
AUDITING THEORY AND PRACTICE
Capital gearing ratio
Fixed interest bearing securities 27,000.
00
27,500.
00
Equity 8,334.
00
6,372.
00
Capital gearing ratio 3.
24
4.
32
Profitability ratios
Gross profit 6,702.
00
4,515.
00
Revenue 20,007.
00
19,943.
00
Gross profit ratio 33.
50
22.
64
Net profit ratio
Net profit 1,962. 896.
AUDITING THEORY AND PRACTICE
Capital gearing ratio
Fixed interest bearing securities 27,000.
00
27,500.
00
Equity 8,334.
00
6,372.
00
Capital gearing ratio 3.
24
4.
32
Profitability ratios
Gross profit 6,702.
00
4,515.
00
Revenue 20,007.
00
19,943.
00
Gross profit ratio 33.
50
22.
64
Net profit ratio
Net profit 1,962. 896.
6
AUDITING THEORY AND PRACTICE
00 00
Revenue 20,007.
00
19,943.
00
Net profit ratio 9.
81
4.
49
Both current and acid test ratios of the company have improved in the current year as compared
to the preceding year. This indicates improvement in the ability of the company to pay off its
current liabilities using current and liquid assets in the current year. Debt to equity ratio in the
current year at 2.64 as compared to 3.14 of the preceding year suggest that the company has
taken additional long term loan to finance the operations of the company.
Both gross profit and net profit ratios of the company show significant increase in the ability of
the company to earn profit from its business operations. From 22.64% to 33.50% in gross profit
of the company in the current year along with net profit ratio of 9.81% from 4.49% clearly
indicating that the performance of the company has improved in this year significantly (Min
Choo et al., 2016).
Substantive procedures:
Verification of documents along with financial statements of the company is part of substantive
procedures. From the financial statements and other document verification there is no evidence
to suggest that the company has materially misstated the financial statements. Thus, financial
AUDITING THEORY AND PRACTICE
00 00
Revenue 20,007.
00
19,943.
00
Net profit ratio 9.
81
4.
49
Both current and acid test ratios of the company have improved in the current year as compared
to the preceding year. This indicates improvement in the ability of the company to pay off its
current liabilities using current and liquid assets in the current year. Debt to equity ratio in the
current year at 2.64 as compared to 3.14 of the preceding year suggest that the company has
taken additional long term loan to finance the operations of the company.
Both gross profit and net profit ratios of the company show significant increase in the ability of
the company to earn profit from its business operations. From 22.64% to 33.50% in gross profit
of the company in the current year along with net profit ratio of 9.81% from 4.49% clearly
indicating that the performance of the company has improved in this year significantly (Min
Choo et al., 2016).
Substantive procedures:
Verification of documents along with financial statements of the company is part of substantive
procedures. From the financial statements and other document verification there is no evidence
to suggest that the company has materially misstated the financial statements. Thus, financial
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AUDITING THEORY AND PRACTICE
statements of the company genuinely showing a better performance and financial position as far
as the liquidity position of the company is concerned for the current year (Song, 2018).
Section 2:
Fashion Designers Limited is another subsidiary of Las Vegas Group Corporation (LVGC) that
controls the use of accessory brand names in all across the globe. The company mainly operates
out of Australia with its expansion strategy is firmly set on Asia and Eastern Europe.
Analytical procedures:
Calculation of operating, liquidity and solvency ratios:
Current ratio 31-12-93 31-12-92
Total Current Assets 602,70
0.00
531,
200.00
Total Current Liabilities 757,74
0.00
620,
330.00
Current ratio 0
.80 0.86
Acid test ratio
Curent assets less inventories 412,998.
00
377,22
2.00
Total Current Liabilities 757,74 620,
AUDITING THEORY AND PRACTICE
statements of the company genuinely showing a better performance and financial position as far
as the liquidity position of the company is concerned for the current year (Song, 2018).
Section 2:
Fashion Designers Limited is another subsidiary of Las Vegas Group Corporation (LVGC) that
controls the use of accessory brand names in all across the globe. The company mainly operates
out of Australia with its expansion strategy is firmly set on Asia and Eastern Europe.
Analytical procedures:
Calculation of operating, liquidity and solvency ratios:
Current ratio 31-12-93 31-12-92
Total Current Assets 602,70
0.00
531,
200.00
Total Current Liabilities 757,74
0.00
620,
330.00
Current ratio 0
.80 0.86
Acid test ratio
Curent assets less inventories 412,998.
00
377,22
2.00
Total Current Liabilities 757,74 620,
8
AUDITING THEORY AND PRACTICE
0.00 330.00
Acid test ratio 0
.55 0.61
Debt to equity ratio
Debt 472,680.
00
428,44
0.00
Equity 428,780.
00
398,47
0.00
Debt to equity ratio 1
.10 1.08
Capital gearing ratio
Fixed interest bearing securities 472,680.
00
428,44
0.00
Equity 428,780.
00
398,47
0.00
Capital gearing ratio 1
.10 1.08
AUDITING THEORY AND PRACTICE
0.00 330.00
Acid test ratio 0
.55 0.61
Debt to equity ratio
Debt 472,680.
00
428,44
0.00
Equity 428,780.
00
398,47
0.00
Debt to equity ratio 1
.10 1.08
Capital gearing ratio
Fixed interest bearing securities 472,680.
00
428,44
0.00
Equity 428,780.
00
398,47
0.00
Capital gearing ratio 1
.10 1.08
9
AUDITING THEORY AND PRACTICE
Income tax ratio
Income tax 25,970.
00
24,72
0.00
Operating profit before income tax 96,170.
00
86,97
4.00
Income tax ratio 27.
00 28.42
Unlike Carpets International Limited, both current and acid test ratios of Fashion Designer
Limited have deteriorated in the current years as compared to proceeding years as can be seen
from the above calculation. Increase in proportion of debt is also clear with the increase in debt
to equity ratio in latest year as compared to preceding year. Both suggest deterioration liquidity
and solvency position of the company (Lin and Fraser, 2018).
However, both operating profit before and after tax of the company have increase in the latest
year as compared to the preceding year. In addition the overall income tax paid on the profit has
also reduced in the latest year with 27% of profit before tax in latest year paid as income tax
whereas it was above 28% in the preceding year.
Substantive procedures:
There is no abnormal fluctuation in either profit or financial assets of the company hence, the
substantive procedures include vouching, verification of accounts balances, physical verification
AUDITING THEORY AND PRACTICE
Income tax ratio
Income tax 25,970.
00
24,72
0.00
Operating profit before income tax 96,170.
00
86,97
4.00
Income tax ratio 27.
00 28.42
Unlike Carpets International Limited, both current and acid test ratios of Fashion Designer
Limited have deteriorated in the current years as compared to proceeding years as can be seen
from the above calculation. Increase in proportion of debt is also clear with the increase in debt
to equity ratio in latest year as compared to preceding year. Both suggest deterioration liquidity
and solvency position of the company (Lin and Fraser, 2018).
However, both operating profit before and after tax of the company have increase in the latest
year as compared to the preceding year. In addition the overall income tax paid on the profit has
also reduced in the latest year with 27% of profit before tax in latest year paid as income tax
whereas it was above 28% in the preceding year.
Substantive procedures:
There is no abnormal fluctuation in either profit or financial assets of the company hence, the
substantive procedures include vouching, verification of accounts balances, physical verification
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AUDITING THEORY AND PRACTICE
of fixed assets and cash in hand along with other substantive procedures show there is nothing to
suggest that there could be any error or fraud in the financial reporting of the company. Thus, the
financial statements of the company are showing true and fair picture of the company as on the
relevant dates and period (Kostova, 2017).
Section 3:
A wholly owned subsidiary company of LVGC, Computek Electronics Limited imports and
distributes modems and personal computers in different parts of the globe.
Analytical procedures:
Let us calculate necessary ratios from the available data to identify any possible area of
misstatements in the financial statements of the company.
The calculation profitability, liquidity and solvency ratios are provided in the table below:
10 months 12 months
Current ratio 31-10-98 31-12-97
Total Current Assets 18,229
.00
33,53
0.00
Total Current Liabilities 17,427
.00
28,84
9.00
Current ratio 1.
1.16
AUDITING THEORY AND PRACTICE
of fixed assets and cash in hand along with other substantive procedures show there is nothing to
suggest that there could be any error or fraud in the financial reporting of the company. Thus, the
financial statements of the company are showing true and fair picture of the company as on the
relevant dates and period (Kostova, 2017).
Section 3:
A wholly owned subsidiary company of LVGC, Computek Electronics Limited imports and
distributes modems and personal computers in different parts of the globe.
Analytical procedures:
Let us calculate necessary ratios from the available data to identify any possible area of
misstatements in the financial statements of the company.
The calculation profitability, liquidity and solvency ratios are provided in the table below:
10 months 12 months
Current ratio 31-10-98 31-12-97
Total Current Assets 18,229
.00
33,53
0.00
Total Current Liabilities 17,427
.00
28,84
9.00
Current ratio 1.
1.16
11
AUDITING THEORY AND PRACTICE
05
Acid test ratio
Current assets less inventories 10,506.0
0
15,457.
00
Total Current Liabilities 17,427
.00
28,84
9.00
Acid test ratio 0.
60 0.54
Debt to equity ratio
Debt 14,517.0
0
14,817.
00
Equity (26,468.0
0)
(22,816.
00)
Debt to equity ratio (0.
55)
(0
.65)
AUDITING THEORY AND PRACTICE
05
Acid test ratio
Current assets less inventories 10,506.0
0
15,457.
00
Total Current Liabilities 17,427
.00
28,84
9.00
Acid test ratio 0.
60 0.54
Debt to equity ratio
Debt 14,517.0
0
14,817.
00
Equity (26,468.0
0)
(22,816.
00)
Debt to equity ratio (0.
55)
(0
.65)
12
AUDITING THEORY AND PRACTICE
Profitability ratios
Operating profit ratio
Operating profit / (loss) (3,652.0
0)
(5,561.
00)
Revenue 47,787.0
0
72,007.
00
Gross profit ratio (7.
64)
(7
.72)
Net profit ratio
Net profit (3,652.0
0)
(7,144.
00)
Revenue 47,787.0
0
72,007.
00
Net profit ratio (7.
64)
(9
.92)
The current 10 months period ending current ratio at 1.05: 1 has declined a bit from 1.16: 1 of
preceding 12 month’s period. However, surprisingly, the acid test ratio of the company for the
AUDITING THEORY AND PRACTICE
Profitability ratios
Operating profit ratio
Operating profit / (loss) (3,652.0
0)
(5,561.
00)
Revenue 47,787.0
0
72,007.
00
Gross profit ratio (7.
64)
(7
.72)
Net profit ratio
Net profit (3,652.0
0)
(7,144.
00)
Revenue 47,787.0
0
72,007.
00
Net profit ratio (7.
64)
(9
.92)
The current 10 months period ending current ratio at 1.05: 1 has declined a bit from 1.16: 1 of
preceding 12 month’s period. However, surprisingly, the acid test ratio of the company for the
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AUDITING THEORY AND PRACTICE
current 10 months period has improved to 0.60: 1 from 0.54: 1 in the preceding year. Thus, this
contradiction can be substantially tested by assessing the changes in inventory and other
associated account balances in last 10 months. The reduction in debt to equity ratio suggests
improvement in solvency position of the company in last 10 months as against the debt to equity
ratio of preceding year. The company however, has failed to earn positive profits in either the
current period or last year. The operating profit and net profit ratios of the company both are in
negatives in these two periods (Koskivaara, 2016).
Substantive procedures:
The verification of supporting documents along with thorough test of account balances and each
class of transactions for at least once show that there is nothing to be suspicious about the
financial reporting of the company (kim ye kyoung and Woen Park, 2015).
Section 4:
Manufacturer and distributor of household products, Enron Electronics Limited is a subsidiary
company of LVGC.
The borrowing of the company currently totaling at $2 million with permission to borrow
additional amount from other financial institutions show the huge respect the company has in the
market. The performance bonus scheme of the company should be audited by verifying the
transactions along with supporting document. It is important to ensure that the bonuses are
actually paid to the deserving sales person on the basis of their performances (Jovković, 2018).
Since, no financial statements of the company have been made available to us hence, the audit of
the company shall be limited to the documents of its various decisions mentioned here including
its operational structure.
AUDITING THEORY AND PRACTICE
current 10 months period has improved to 0.60: 1 from 0.54: 1 in the preceding year. Thus, this
contradiction can be substantially tested by assessing the changes in inventory and other
associated account balances in last 10 months. The reduction in debt to equity ratio suggests
improvement in solvency position of the company in last 10 months as against the debt to equity
ratio of preceding year. The company however, has failed to earn positive profits in either the
current period or last year. The operating profit and net profit ratios of the company both are in
negatives in these two periods (Koskivaara, 2016).
Substantive procedures:
The verification of supporting documents along with thorough test of account balances and each
class of transactions for at least once show that there is nothing to be suspicious about the
financial reporting of the company (kim ye kyoung and Woen Park, 2015).
Section 4:
Manufacturer and distributor of household products, Enron Electronics Limited is a subsidiary
company of LVGC.
The borrowing of the company currently totaling at $2 million with permission to borrow
additional amount from other financial institutions show the huge respect the company has in the
market. The performance bonus scheme of the company should be audited by verifying the
transactions along with supporting document. It is important to ensure that the bonuses are
actually paid to the deserving sales person on the basis of their performances (Jovković, 2018).
Since, no financial statements of the company have been made available to us hence, the audit of
the company shall be limited to the documents of its various decisions mentioned here including
its operational structure.
14
AUDITING THEORY AND PRACTICE
The verification of documents and supporting information raise no suspicion as to its
organizational structure and operations are concerned.
Section 5:
Involves in distribution machineries and equipment, General Machinery Company Limited is
another subsidiary of LVGC (Glover, Prawitt and Drake, 2015).
Analytical procedures:
The analytical procedures on the financial statements of the company are conduced below with
the help of ratio analysis.
Calculation of profitability ratios:
Profitability ratios
Operating profit ratio
Operating profit /
(loss)
165,000.
00
1,240,000.
00
Revenue 30,020,000.
00
30,450,000.
00
Gross profit ratio
0.55 4.07
AUDITING THEORY AND PRACTICE
The verification of documents and supporting information raise no suspicion as to its
organizational structure and operations are concerned.
Section 5:
Involves in distribution machineries and equipment, General Machinery Company Limited is
another subsidiary of LVGC (Glover, Prawitt and Drake, 2015).
Analytical procedures:
The analytical procedures on the financial statements of the company are conduced below with
the help of ratio analysis.
Calculation of profitability ratios:
Profitability ratios
Operating profit ratio
Operating profit /
(loss)
165,000.
00
1,240,000.
00
Revenue 30,020,000.
00
30,450,000.
00
Gross profit ratio
0.55 4.07
15
AUDITING THEORY AND PRACTICE
Net profit ratio
Net profit 155,000.
00
635,000.
00
Revenue 30,020,000.
00
30,450,000.
00
Net profit ratio
0.52 2.09
The operating profit ratio of the company in the current period at 0.55% has shown huge dip as
against 4.07% of the preceding period. The reason for this huge fluctuation must be found out by
the auditor by using substantive procedures. Net profit ratio has also declined significantly from
2.09% to 0.52%. The reason for this deterioration in profitability must be addressed by the
auditor (Farrar, 2017).
Conclusion:
Considering the discussion in the above it can be said that the audit report of these subsidiaries
nowhere raised any suspicion as to presence of errors or / and mistakes in financial statements.
However, it is important to note that an auditor only provide assurance he or she does not
guarantee that there is absolutely no error or misstate in the financial statements. Thus, the audit
report as well as financial statements shall be studied by keeping this in mind.
AUDITING THEORY AND PRACTICE
Net profit ratio
Net profit 155,000.
00
635,000.
00
Revenue 30,020,000.
00
30,450,000.
00
Net profit ratio
0.52 2.09
The operating profit ratio of the company in the current period at 0.55% has shown huge dip as
against 4.07% of the preceding period. The reason for this huge fluctuation must be found out by
the auditor by using substantive procedures. Net profit ratio has also declined significantly from
2.09% to 0.52%. The reason for this deterioration in profitability must be addressed by the
auditor (Farrar, 2017).
Conclusion:
Considering the discussion in the above it can be said that the audit report of these subsidiaries
nowhere raised any suspicion as to presence of errors or / and mistakes in financial statements.
However, it is important to note that an auditor only provide assurance he or she does not
guarantee that there is absolutely no error or misstate in the financial statements. Thus, the audit
report as well as financial statements shall be studied by keeping this in mind.
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AUDITING THEORY AND PRACTICE
References:
Farrar, F. (2017). Role and Function of the Public Company Accounting Oversight Board and
Auditing Standard No. 5 an Audit Internal Control Over Financial Reporting that Integrated with
an Audit of Financial Statements. SSRN Electronic Journal, 5(5), pp.122-220.
Glover, S., Prawitt, D. and Drake, M. (2015). Between a Rock and a Hard Place: A Path Forward
for Using Substantive Analytical Procedures in Auditing Large P&L Accounts: Commentary and
Analysis. AUDITING: A Journal of Practice & Theory, 34(3), pp.161-179.
Jovković, B. (2018). Characteristics of insurance companies' financial statements and their
audit. Poslovna ekonomija, 12(1), pp.110-126.
kim ye kyoung and Woen Park (2015). The analysis of disclosure status and audit opinions on
the consolidated financial statements of Listed Companies. Korea International Accounting
Review, null(58), pp.154-168.
Koskivaara, E. (2016). Artificial neural networks in analytical review procedures. Managerial
Auditing Journal, 21(4), pp.191-223.
Kostova, S. (2017). Audit Procedures for Disclosure of Errors and Fraud in Financial Statements
of Bulgarian Companies. Annals of the Alexandru Ioan Cuza University - Economics, 60(2),
pp.110-120.
Lin, K. and Fraser, I. (2018). The use of analytical procedures by external auditors in
Canada. Journal of International Accounting, Auditing and Taxation, 14(4), pp.153-168.
Min Choo, T., Keong Chua, M., Boon Ong, C. and Hee Tan, T. (2016). Analytical procedures
for new and matured industries. Managerial Auditing Journal, 18(18), pp.123-134.
AUDITING THEORY AND PRACTICE
References:
Farrar, F. (2017). Role and Function of the Public Company Accounting Oversight Board and
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kim ye kyoung and Woen Park (2015). The analysis of disclosure status and audit opinions on
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AUDITING THEORY AND PRACTICE
Song, C. (2018). Audit Recognition to Falsified Methods in Financial Statements of Listed
Companies in China. International Business Research, 6(8), pp.12-31.
AUDITING THEORY AND PRACTICE
Song, C. (2018). Audit Recognition to Falsified Methods in Financial Statements of Listed
Companies in China. International Business Research, 6(8), pp.12-31.
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