Reduce delivery and distribution time of products and services
by adding additional warehouse locations
- Management Assertions – you
have to say what the management assertions are (i.e., you should
name them in the paper – completeness, accuracy, etc.) and state
the auditing standard that is associated with management
assertions. Again, this is an action item on your part required by
the rubric. This must be obvious in your submission – not subtle.
The management assertions must relate to the business objective you
selected.
- Audit risk – you must discuss
the audit risk and describe it in the audit plan as well as
document what the appropriate auditing standard. You have to state
this explicitly in the paper – general statements and just citing
the auditing standard is not enough. You must tie it to the
business objective.
- Internal Controls – you must
identify the internal controls for EarthWear related to the
business objective you selected. This means you must state what
those controls are and their connection to the business objective
as well as include the appropriate auditing standards.
- Effect on audit procedures –
you must explain effect on audit procedures for the related
business objective selected. You have to explain this effect and
the appropriate auditing standard. Again, this is an action item on
your part to include in the paper.
- You must determine materiality. This requires two action items.
First, you must conduct a preliminary risk assessment, and explain
which factors were used to in making the determination. This is an
action item that needs to be in your paper. You need to state what
the factors are and your conclusion on the risk
assessment.
