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HI6026 - Audit, Assurance and Compliance -DIPL Case Study

   

Added on  2020-03-02

15 Pages2779 Words41 Views
AUDIT, ASSURANCE, AND COMPLIANCES1

ContentsIntroduction...........................................................................................................................................3Case Study`s Summary..........................................................................................................................4Question 1.............................................................................................................................................5Question 2.............................................................................................................................................8Intentional Misstatement..................................................................................................................8International and domestic reporting................................................................................................9Question 3...........................................................................................................................................10Key fraud risk factor:.......................................................................................................................10Identification of key fraud risk factors.............................................................................................11Conclusion...........................................................................................................................................12References...........................................................................................................................................132

IntroductionDIPL is an Australian company and the main business process of the company is printing.Magazines and books are mainly printed by the company. Besides this, the printing ofadvertisements for the publishing and educational industry is also used to be done by thecompany. In addition to this analyzed the financial statement of the company and it is used toverify the legitimacy of the statements. The operations are done in the financial accounts forgetting the attention of the shareholders. In this report, inherent risk factors are also beingdiscussed. There is some case study have to follow for preparing this report.3

Case Study`s SummaryThe case study of Double Ink Printers limited describes the audit which is managed by theStewart and Kathy. The business of DIPL is printing of books and magazines, advertisingmaterial for advertising, educational and publishing industries but it is based on the print-on-demand basis. Detailed information related to the business of DILP is given in case of study,in addition to this financial information of the company is also given in the report. It alsoanalyses the ratio of the company to measure the performance of the company and alsomeasure the financial condition of the company. This information is very useful as it plays avirtual role in auditing process and also helps in access the business`s information. Besidesthis changes in the board meetings and discussion in the annual meeting, and IT system, etc.has been described in this case study for a better process.4

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