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Report on Audit, Assurance and Compliance

8 Pages1628 Words50 Views
   

Holmes Colleges

   

Audit, Assurance and Compliance (HI6026)

   

Added on  2020-02-24

About This Document

DIPL is a corporation based in Australia that specializes in printing. This report includes an examination of the company's financial statements in order to assess the company's financial situation. The situation of DIPL is being investigated in order to determine the full extent of the company's modifications.

Report on Audit, Assurance and Compliance

   

Holmes Colleges

   

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:Authors Note:
Report on Audit, Assurance and Compliance_1
1AUDIT, ASSURANCE AND COMPLIANCETable of ContentsAnswer 1..........................................................................................................................................2Answer 2..........................................................................................................................................2Answer 3..........................................................................................................................................2Reference List..................................................................................................................................3
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2AUDIT, ASSURANCE AND COMPLIANCEAnswer 1Utilization of Analytical Process: During the time, spent building up the audit design ofDIPL, diagnostic procedure of the money related data gives a noteworthy help. Then again, auditdesign gives the vital rules and bearings to the examiners at the season of audit operations. On amore exact note, audit design encourages the inspectors to keep up the audit cost in a specificrestrain and to quit misconception with the audit customers. Logical approach of the moneyrelated data of DIPL alludes to the way toward spreading the budgetary data from variousmonetary presentation of the organization. Accountants and budgetary experts can utilize different thing lines from the monetaryarticulations and the additionally can check their base of arrangement for the organizations. Forinstance, the enlistment procedure of different highlighting and money related things in thebudgetary reports like resources, net liabilities, proprietor's value and others can be mull overalongside examination of deviation of them from the ordinary circumstance. One of the majorbutt-centric cal procedures of budgetary data is Benchmarking and this procedure can be utilizedfor the examination of organization's audit design. With the assistance of benchmarking process,difference in the money related reports of the organizations can be spotted and the real reasonsfor the event of these changes can be resolved with the assurance of main driver of thesefluctuations. Aside from the benchmarking procedure, Ratio Analysis is considered as anoteworthy scientific procedure of money related data of the organizations. Apportionexamination is particularly useful in the correlation of the money related reports of two or manyorganizations with a specific end goal to build up the audit design (Jans et al. 2014).
Report on Audit, Assurance and Compliance_3

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