Audit Plan for Konekt Limited: Key Accounting Balances and Materiality

Executive Summary
This assignment aims to provide an audit plan to the senior audit manager of a
company named “Konekt Limited”, which is a listed company.
After the engagement letter signed with the company for audit of financial
reports of current accounting period, a preliminary audit therefore conducted on
the company and its business environment and the report for such assertions
made after the preliminary audit mentioned in this assignment for planning and
performing the audit of the company that is agreed.
This assignment contains key accounting balances that needs focus during the
audit of historical financial reports of the entity and materiality in planning and
performing an audit of financial statements provided in the assignment along
with the risk.
The Assessment report given to the senior audit manager for designing a plan for
performing the audit based on the engagement letter entered into with the
company.
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