HA3032 Auditing: Developing Audit Program for Shaver Shop Group Report
VerifiedAdded on 2022/12/30
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Report
AI Summary
This report details the development of an audit program for Shaver Shop Group Limited, a specialty retailer. It begins by identifying key business risks, including economic conditions, changing customer habits, and competition. The report then outlines the determination of audit risk, considering inherent, control, and detection risks. Analytical procedures are performed on the statement of financial position and income statement to assess financial performance. Materiality is established at 5%, and material account balances are identified, including goodwill, inventory, trade receivables, and expenses. The report concludes that the company has a high level of inherent risk and highlights the use of probability sampling techniques. References include relevant academic sources and the company's investor information.
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