ADMS 4551 Chapter 10: develop risk response

• School: York University
• Department: Administrative Studies
• Course: ADMS 4551
• Professor: Larry Yarmolinsky

Document Summary

Identify characteristics of engagement that defines scope ex. If tight deadline require more resources: developing overall audit strategy at hilsburg hardware limited, audit strategy memo figure 10. 1 p. 315, roadmap for audit form basis for more detailed audit plan. Examine support documents / extend sales price & units on sales invoice. Determine if amounts correct: dual purpose test test of controls & substantive procedure on same sample more efficient. In book assume auditor uses dual purpose test. If analytical indicate possibility of mm additional ap done. Ar/physical count invent / examin ve(cid:374)dor"s state(cid:373)e(cid:374)ts for ap: summary of types of tests. Inquiries of client apply to every type of test. If sap concludes mm low other st reduced: tradeoff between toc & st. If ct high follow s approach / if c low combined approach: perform toc assess if c risk supported. If c working conduct more toc & fewer tod.