ACC546 - Week 1 - Individual Ass. - Begining the Audit Report

ACC546 - Week 1 - Individual Ass. - Begining the Audit Report

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Beginning the Audit Report 1 Beginning the Audit Report Carmen I. López Alicea ACC546 - Auditing Prof. Paul Vilaro Nelms University of Phoenix January 15, 2011 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. Beginning the Audit Report 2 Audit Engagement Checklist Initial Date _____ ____ 1. Research the audit engagement and apply appropriate Auditors Standards and Code of Ethics _____ ____ 2. Determine appropriate laws/regulations that govern this area: a. state law b. federal law c. guidelines d. Other - wage/hour, etc. _____ ____ 3. Maintain an awareness of the potential for fraud, and when appropriate: a. Design audit steps to address significant risk of fraud b. Employ audit tests to detect fraud c. Determine if suspected fraud merits investigation _____ ____ 4. Determine if the audit should be conducted under the attorney client privilege _____ ____ 5. Establish the audit engagement's objective and scope _____ ____ 6. Collect data a. Policies and procedures b. Preliminary surveys c. Meeting summaries d. Other relevant and useful information _____ ____ 7. Evaluate the relevance, sufficiency and competence of data collected _____ ____ 8. Analyze and interpret data collected _____ ____ 9. Develop work papers _____ ____ 10. Review of work papers _____ ____ 11. Communicate interim progress with auditee _____ ____ 12. Draw conclusions _____ ____ 13. Report audit engagement results:...
View Full Document

This note was uploaded on 04/24/2011 for the course ACCT ACC546 taught by Professor ???? during the Spring '09 term at University of Phoenix.

Page1 / 7

ACC546 - Week 1 - Individual Ass. - Begining the Audit Report

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online