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Unformatted text preview: 6-36 [LO 8] As a manager at RHC, LLP, part of Charlie’s tasks include drafting the audit plan for his audit clients, including determining the appropriate audit procedures to be performed over the course of the audit.Required:(a)List the procedures Charlie can utilize to complete the audit in accordance with AS 5.•Knowledge of the company's internal control over financial reporting obtained during other engagements performed by the auditor;•Matters affecting the industry in which the company operates, such as financial reporting practices, economic conditions, laws and regulations, and technological changes;•Matters relating to the company's business, including its organization, operating characteristics, and capital structure;•The extent of recent changes, if any, in the company, its operations, or its internal control over financial reporting;•The auditor's preliminary judgments about materiality, risk, and other factors relating to the determination of material weaknesses;•Control deficiencies previously communicated to the audit committee 8/ or management;•Legal or regulatory matters of which the company is aware;...
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- Spring '12
- XYZ Company