It is common industry knowledge that an audit plan provides thespecific guidelines auditors must follow when conducting anexternal audit. External public accounting firms conduct externalaudits to ensure outside stakeholders that the companyâs financialstatements are prepared in accordance with generally acceptedaccounting principles (GAAP) or International Financial ReportingStandards (IFRS) standards. Use the Internet to select a publiccompany that appeals to you. Imagine that you are a senior partnerin a public accounting firm hired to complete an audit for thechosen public company.
Outline the critical steps inherent in planning an audit anddesigning an effective audit program. Based upon the type ofcompany selected, provide specific details of the actions that thecompany should undertake during planning and designing the auditprogram.
It is common industry knowledge that an audit plan provides thespecific guidelines auditors must follow when conducting anexternal audit. External public accounting firms conduct externalaudits to ensure outside stakeholders that the companyâs financialstatements are prepared in accordance with generally acceptedaccounting principles (GAAP) or International Financial ReportingStandards (IFRS) standards. Use the Internet to select a publiccompany that appeals to you. Imagine that you are a senior partnerin a public accounting firm hired to complete an audit for thechosen public company.
Outline the critical steps inherent in planning an audit anddesigning an effective audit program. Based upon the type ofcompany selected, provide specific details of the actions that thecompany should undertake during planning and designing the auditprogram.
