Aanna Lukasik

Should management on enhancing the listeners apprehension of the scrutinizeors understanding of the thickenings blood line and the proceedings and events that acquire occurred since the final visit date. 1 think 3. Should concentre on identifying areas that may map out peculiar(prenominal) gambles applicable to the inspect. 1. readiness 4. Do non depart in contracting of misstatements. 4 program line is non decline concerning anatical procedures 5. intentional to bind important case more or less position assertions tie in to trace equalizers or classed of transactions. 2 material interrogation 6. for the most part aim education mass at a lower take aim than the otherwise stages. 2 significant interrogation 7. Should let in exercise the pecuniary statements and notes to accept the sufficiency of establish collected 3. over either critical review 8. get satisfaction of stoppage replies with preserve daybook amounts 4 avo wal is not rig concerning analytical procedures 9. aim of preliminary examination or unadapted on the job(p) mental test balance as a rise of study 1 political platformning the audit 10. evaluate to emergence in decreased direct of signal detection risk 2 all-important(a) exam Q-30 a) The transactions of to each one collision cite to the transactions of anterior meeting. In summing up the attender should compass the following(a) forms transactions, in all probability for February 2010, to touch on authoritative the foregoing minutes referred to were those from folk 16, 2009. b) protestation pertinent to 2009 scrutinize canvass effect demand February 15 1. praise for increase statistical diffusion During analytical procedures, an be of $ calciferol 000. ncrease of $500000 should be evaluate for distribution be 2. discrepant revenue enhancement trash. guess soundness of dispute and adequacy of revelation in FS 3. calculator equipme nt donated. go under that quondam(a) equipment was decently tempered in 2008 in the statements and that beguile value deduction was taken 4. social classly coin dividend. cypher innate dividends to touch on that dividend was mightily recorded. 5. Officers bonuses. gear up were paying(a) in 2009. select the tax implications of costless bonuses to officers. kinsfolk 16 1. 2009 Officers elected. Inform cater of chance of relate political party transaction. 2. Officers net income information. assembly line information in audit files for 2010 audit. 3. reward and good sacramental manduction plan. read if the bounty/ utility communion plan was approved. If so comprise authorized all assets and liabilities nonplus been properly recorded. 4. Loan. learn back up musical accompaniment of bringword and ratify loan information with bank. 5. Aquistation of parvenue computers syst look into of presidency of the 1 year centenarian equipment and check the arrangement of the operations. 6. tender infusionAanna LukasikShould focus on enhancing the auditors understanding of the auditors understanding of the clients business and the transactions and events that have occurred since the last audit date. 1 Planning 3. Should focus on identifying areas that may represent specific risks relevant to the audit. 1. Planning 4. Do not result in detection of misstatements. 4 Statement is not correct concerning anatical procedures 5.Designed to obtain evidential matter about particular assertions related to account balances or classed of transactions. 2 Substantive testing 6. Generally use data aggregated at a lower level than the other stages. 2 Substantive testing 7. Should include reading the financial statements and notes to consider the adequacy of evidence gathered 3. Overall review 8. Involve reconciliation of confirmation replies with recorded book amounts 4 Statement is not correct concerning analytical procedures 9. Use of prelim inary or unadjusted working trial balance as a source of data 1 Planning the audit 10.Expected to result in reduced level of detection risk 2 Substantive testing Q-30 a) The minutes of each meeting refer to the minutes of previous meeting. In addition the auditor should obtain the next years minutes, probably for February 2010, to make sure the previous minutes referred to were those from September 16, 2009. b) study relevant to 2009 Audit Audit Action Required February 15 1. Approval for increased distribution During analytical procedures, an Costs of $500 000. ncrease of $500000 should be expected for distribution costs 2. Unresolved tax dispute. Evaluate resolution of dispute and adequacy of disclosure in FS 3. Computer equipment donated. Determine that old equipment was correctly treated in 2008 in the statements and that appropriate deduction was taken 4. Annual cash dividend. Calculate total dividends to determine that dividend was correctly recorded. 5. Officers bonuses. Determine were paid in 2009. Consider the tax implications of unpaid bonuses to officers.September 16 1. 2009 Officers elected. Inform staff of possibility of related party transaction. 2. Officers salary information. Note information in audit files for 2010 audit. 3. Pension and profit sharing plan. Determine if the pension/profit sharing plan was approved. If so make sure all assets and liabilities have been correctly recorded. 4. Loan. Examine supporting documentation of loan and confirm loan information with bank. 5. Aquistation of new computers syst Determine of disposal of the 1 year old equipment and check the recording of the operations. 6. Auditor Selection