1SAMPLE16C25-Accounting-Audit-Plan
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The document provides an audit plan that assesses internal control risk and provides a preliminary judgment for detection risk related to work-in-progress inventory. It justifies the audit plan by referring to theories learned from an auditing course. The audit plan addresses risks inherent in the system and substantive procedures for work-in-progress inventory. It also addresses issues like lost accounting standards during office moves, lack of virus detection mechanisms, and the need for secure strategies and regulations to safeguard assets and ensure reliable information.
1SAMPLE16C25-Accounting-Audit-Plan
- 1. A preliminary audit plan assessing internal control risk and providing preliminary judgment for detection risk. You are required to justify the audit plan by referring to theoretical grounds learnt from the unit ACC305 Auditing and Professional Practice. Published by: https://expertassignmenthelp.com/ Filename: 1SAMPLE16C25-Accounting-Audit-Plan.PDF For more free samples visit: https://expertassignmenthelp.com/finance-and-accounting-assignment-help/ Uploaded: April 26, 2016 Enjoy Abstract Statements of Auditing Standards 300(SASs) (2004) provide guidance in accounting and internal system controls of risk, audit framework and assessing the internal control risk carried under the WIP inventory. The preliminary model of audit plans the assignment focuses at the risk inherent to the system and substantive procedures on the Working in Progress inventory. The following case study addresses below requirements primarily with the audit plan; 1. In MTI office movement, bookkeeping standard was lost and issues like server crash. 2. Strategic approach to access and formulate guidance for the MIT and EI. 3. Suppliers sent sample programs that had been infected with a virus. No mechanism to detect and investigate. 4. Secured strategies, legislative regulations for effective and economical use of resources. 5. Ensure dependability of data, records and information. Safeguard MTIs interests and assets from losses of all kinds, like fraud, irregularity or corruption and monitor the achievement based on (CAD/CAM) system.