Audit Plan for Walmart Stores: Financial Performance Analysis
VerifiedAdded on 2020/04/15
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AI Summary
This report provides an in-depth analysis of the audit plan for Walmart Stores. It begins by outlining the inherent steps in audit planning and design, emphasizing the importance of understanding the company's internal controls and business environment. The report then examines key financial performance ratios, including profitability and efficiency ratios, comparing Walmart's performance between 2016 and 2017. It highlights a decreasing trend in profitability and discusses the implications for shareholders. The report further delves into analytical procedures, focusing on the analysis of the income statement and balance sheet, and identifies areas requiring detailed scrutiny. The audit risk model and the use of sampling techniques are also discussed, as well as the preliminary responsibilities of the auditor if an unqualified report is issued. The report concludes with a reference list of sources used. This report is an excellent resource for students studying accounting and auditing, as it provides a comprehensive overview of the audit process in a real-world context.
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