Learn smart - Learn online. Upto 80% off on courses for a limited time. View Courses

Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!
Add File

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

Guaranteed Higher Grade!

IAF 520 Auditing

tag 0 Download 11 Pages / 2,512 Words tag 19-07-2021
  • Course Code: IAF520
  • University: Seneca College
    icon is not sponsored or endorsed by this college or university

  • Country: Canada


Assume the role of the entity’s external auditor and prepare a report containing the following elements of the audit plan:
1. Examine the organization’s industry, regulatory environment, and other external factors (See CAS 315- Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment). Identify
four factors that increase the company’s business risk. Explain why the factor increases business risk. How does management manage those risks Link the business risk factors you identified to specific risk of material misstatement
2. Evaluate the internal control environment. Since you have limited access to detailed internal control information focus only on the overall control environment including corporate governance.
3. Perform an overall audit risk assessment in the context of the audit risk model,using the terms high/medium/low. Indicate your target audit risk, your assessed organizational inherent risk, your assessed control risk for the business as a whole and your planned detection risk. Use a table to summarize your results. 
4. Determine planning materiality and provide your rationale (include quantitative and qualitative factors). 
5. Present the results of key analytical procedures. Analyze the results on the impact on your audit work/audit procedures. 
6. Discuss briefly three key audit issues and identify two audit procedures to address each key audit procedure 
7. Identify one key accounting process/ financial statement cycle for this company.Explain why this is a key process/cycle. List the financial statement balances and transactions in that process/cycle. Apply the audit risk model and assess the risk components for the key assertions in the process/cycle. List specific key audit procedures to be performed stating the associated audit assertions (focus on the high risk assertions) following your audit strategy and your risk assessment for the balance and transactions in this process/cycle.
Download Sample Now

Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days.

Unique Document

Under Evaluation

Get Money
into Your Wallet

Total 11 pages

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2021). IAF 520 Auditing. Retrieved from

My Assignment Help (2021) IAF 520 Auditing [Online]. Available from:
[Accessed 27 June 2022].

My Assignment Help. 'IAF 520 Auditing' (My Assignment Help, 2021) <> accessed 27 June 2022.

My Assignment Help. IAF 520 Auditing [Internet]. My Assignment Help. 2021 [cited 27 June 2022]. Available from:

With time, has become one of the best college essay writing services. Our all rounded services give students the confidence to overcome assignment related issues. Our services are fast enough to meet most urgent deadlines. We are capable of delivering fast essay writing services with the help of our specially designed provisions and writers' teams. Our urgent essay help services guarantee most rapid delivery of assignment solutions. Some of our most popular essay services are application essay help, exploratory essay help, literary review essay help and argumentative essay help.

Latest Audit Samples

HI6026 Audit, Assurance And Compliance

Download : 0 | Pages : 7
  • Course Code: HI6026
  • University: Holmes Institute
    icon is not sponsored or endorsed by this college or university

  • Country: Australia

Answers: Assignment Question 1: a)     Integrity and objectivity are the basic elements of auditor’s independence. An auditor is required to perform his audit functions free from any kind of personal interest. In the given situation, if CJ participates in the seminar, it will affect auditor’s independence. Promoting LTH’s business will lead to soliciting the client’s work which falls outside the domain...

Read More arrow

AC3093 Auditing And Assurance

Download : 0 | Pages : 10
  • Course Code: AC3093
  • University: University Of London
    icon is not sponsored or endorsed by this college or university

  • Country: United Kingdom

Answers: Task 1 Purpose and use of different accounting records Accounting Records defines relevant documentations involved at the time of preparation of financial statements as well as recording of financial audit reports (Zadek, Evans and Pruzan 2013). This majorly include recording of assets, liabilities, journals as well as ledgers for other supporting documents such as invoices. Some of the main purpose and usage of accounting records a...

Read More arrow Tags: Australia Reading Management University of Melbourne 

ACFI3005 Auditing And Assurance

Download : 0 | Pages : 10

Answer: Introduction Auditors’ independence can in like way be impacted by different powers inside the audit firm or from the customer firm. These factors are perceived as threats to survey self-sufficiency and reliably come to fruition into exchanged off audit decisions. From the diverse discourses in the circumstance think one, from each of the given condition one can find and see four threats by the approach of dangers and shields ap...

Read More arrow

PACC6002 Auditing And Assurance Services

Download : 0 | Pages : 0

Read More arrow

HA3032 Auditing And Assurance Services

Download : 0 | Pages : 0
  • Course Code: HA3032
  • University: Holmes Institute
    icon is not sponsored or endorsed by this college or university

  • Country: Australia

Read More arrow Tags: Australia Epping Management HA3032 Auditing and Assurance Services University of New South Wales 

Content Removal Request

If you are the original writer of this content and no longer wish to have your work published on then please raise the content removal request.

5% Cashback

On APP - grab it while it lasts!

Download app now (or) Scan the QR code

*Offer eligible for first 3 orders ordered through app!

callback request mobile
Have any Query?