Audit Planning Report for Cerise Enterprises

University of XXXXXXXXXXXXX
Issues in Auditing Practice Assignment
BUS000, Tutor Name, Tutorial Time
Student Name, SID: XXXXXXXXXX
7-7-2017

Executive Summary
An audit planning report has been prepared for one of the small entities named “Cerise
Enterprises”. The report incorporates the audit risks and the audit assertions in the critical
accounts and the audit procedures to be employed in order to check and verify the same.
Several analysis have been done to identify the critical accounts and the also the fraud risk
analysis has been done towards the end to find the possibility of fraud in accounts, if any.
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Table of Contents
Executive Summary................................................................................................................................i
Table of Contents...................................................................................................................................ii
1. Introduction...................................................................................................................................1
1.1. Authorisation.........................................................................................................................1
1.2. Limitations.............................................................................................................................1
1.3. Scope.....................................................................................................................................1
2. Inputs to the report - Analysis.......................................................................................................2
2.1. Trial balance input.................................................................................................................2
2.2. Determination of Materiality.................................................................................................2
2.3. Preliminary Analytical Review................................................................................................2
3. Discussion on the report................................................................................................................3
3.1. Income statement accounts to be analysed..........................................................................3
3.2. Audit procedures to be undertaken.......................................................................................4
4. Conclusion – Fraud Risk Analysis...................................................................................................6
5. Recommendations.........................................................................................................................6
References.............................................................................................................................................7
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