logo

Audit of GPSA

   

Added on  2019-10-31

10 Pages2233 Words451 Views
Auditing Theory and Practices 1Auditing Theory and Practices

Auditing Theory and Practices 2Executive Summary:This report is based on the audit of GPSA. This report consist the analysis of ratios associatedwith the five accounts such as accounts receivable, current investment, Research anddevelopment capitalisation, Intangible assets and Property assets. From this report it has beenanalysed that there are several audit risks of GPSA and along with this some steps to reduce theaudit risk also discussed in this report. It has been also analysed that there are several businessrisks that GPSA faces and those risks are; Substitute product and research cost, Decline inProperty Market, New IT development and Strategic Risk. In addition to this, it has been alsoanalysed that there are some internal control of GPSA and how internal control reduce the risks.Weaknesses of internal control that effect the sales and receivable have been also analysed in thisreport.Table of Contents

Auditing Theory and Practices 3Executive Summary:...................................................................................................................................2Introduction:................................................................................................................................................3Question 1A:...............................................................................................................................................4a)Accounts:.........................................................................................................................................4b)Analysis of the Ratio:......................................................................................................................5c)Audit Risks:.....................................................................................................................................5d) Audit steps to reduce risk:...................................................................................................................6Question 1B:................................................................................................................................................6Business risks of GPSA:..........................................................................................................................6Question 2A:...............................................................................................................................................7a)Effective control:.............................................................................................................................7b)Risk Alleviated:...............................................................................................................................8c)Test of Control:................................................................................................................................8Question 2B:................................................................................................................................................9Internal control weaknesses for Sales and receivable:.............................................................................9Conclusion:...............................................................................................................................................10References:................................................................................................................................................10Introduction:

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Report on Aspects of Internal Control System of GPSA
|11
|2361
|34

Audit Risk Assessment of GPSA Limited
|10
|1794
|413

Auditing Theory and Practices
|13
|3013
|269

ACC568 : Auditing Theory and Practice
|12
|2654
|196

Auditing Theory and Practice Report - Assignment
|13
|3078
|33

Internal control effectiveness of GPSA
|14
|3085
|227