BU537 Lecture 6: Stella outline
Document Summary
As per your request i have prepare a memo that discusses the planning analytics, audit planning memo, and accounting issues and audit procedures : planning analytics, audit planning memo: Should compare prior year to current year and pick out high risk items. 3 marks for a risk so they need 5 risks. Need to explain clearly the risk and the increase or decrease. Inventory has a limited shelf life and no one is telling sales reps: no formal controls over rebates, ar has been outstanding. As such we lack experience with bf and its systems and processes. (dr: economic slowdown can tie this to specific assertions. Importing goods have to deal with foreign exchange issues could be recorded at wrong rates: others that are valid. Assertion level risks: completeness of rebates is high risk different arrangements for different customers makes it hard to track them properly audit procedures to be performed around this.
