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HI6026 Audit, Assurance and Compliance TRIMESTER 2, 2017

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Holmes Institute Sydney

   

Audit, Assurance and Compliance (HI6026)

   

Added on  2020-02-24

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Running head: AUDIT ASSURANCE AND COMPLIANCEAudit Assurance and ComplianceName of the Student:Name of the University:Author’s Note:
HI6026 Audit, Assurance and Compliance TRIMESTER 2, 2017_1
1AUDIT ASSURANCE AND COMPLIANCETable of ContentsAnswer to Question No 1...........................................................................................................2Answer to Question No 2...........................................................................................................4Answer to Question No 3...........................................................................................................7Part A.....................................................................................................................................7Part B....................................................................................................................................10Reference List..........................................................................................................................11
HI6026 Audit, Assurance and Compliance TRIMESTER 2, 2017_2
2AUDIT ASSURANCE AND COMPLIANCEAnswer to Question No 1The analytical process that persists with the financial data of Double Ink PrintersLimited (DIPL) has been an influential factor for the construction of their audit plan. Theconstructed plan could be regarded as a parameter that would become a key to be followedduring the preparation of the audit. The analytical method for the financial declarations ofDIPL specifies the process of dissemination of the data (Rajkumar, 2014).Explanation to the Case Study The end result of the decision planning related with the planning of the audit ispersuaded mostly through the results of the analytical process in order to publicize the datafrom the financial statements. The tables given below provide the financial ratios that havebeen constructed with respect to the case study (Sharma, 2016).Particulars201320142015Solvency ratio0.620.440.21Profit margin0.0680.600.06Current ratio1.421.461.50The table that has been computed above has revealed that the current ratio of DIPLhas grown over the last three years. Furthermore, the margin profit has been noticed to bechanging for the last few years. By taking assistance of the ratios computed above, the netprofit margin of DIPL can be contrasted with the total profit that has been createdAnswer to Question No 2There are several factors that are intrinsic in nature during the constitution of theincidence of the misstatement of the materials in the financial disclosures of a specificindividual. Conversely, it is natural for the existence of several types of unsystematic and
HI6026 Audit, Assurance and Compliance TRIMESTER 2, 2017_3

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