{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Project Dollarama

Yes grant of stock options impairment losses for

Info icon This preview shows pages 40–45. Sign up to view the full content.

View Full Document Right Arrow Icon
Yes Grant of stock options,  impairment losses for  goodwill and intangibles Other Yes Significant/unusual/ complex transactions close to period end? Yes Subsidiaries Application of hedge accounting? No Use of complex fair value models when N/A 6 March 2011 5E
Image of page 40

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

View Full Document Right Arrow Icon
C&W LLP Audit Program Inherent Risk no quoted market value? Significant prior period adjustments/ unexplained trends? N/A Other? If additional user defined lines are required, please use the table below. No Derivative financial instruments? Yes Extensive use of derivative financial instruments? No Speculative derivative trading (i.e., max. profits)? No Derivative instruments not initiated by cash exchange, have irregular/end of term cash flows or embedded features? No Management/staff lack knowledge/ competence/ experience in use of derivatives? No Other? If additional user defined lines are required, please use the table below. N/A Control policies and procedures? Yes (Consider communication of policies, failure to correct deficiencies or safeguard assets, overrides, inadequate supervision, changes in information systems, deficiencies in the entity’s risk assessment process or absence of a documented risk assessment process, etc.). Ineffective communication/ enforcement of No 6 March 2011 5E
Image of page 41
C&W LLP Audit Program Inherent Risk policies/ rules/ regulations/ values? Failure to correct significant known control weaknesses/deficie ncies? No Disregard for need to monitor/ reduce risk of asset misappropriation? No Disregard for control procedures and activities through overrides/tolerance of petty theft? No Inadequate supervision of operations? No Disruptions/change s to information systems? No Other? If additional user defined lines are required, please use the table below. No Accounting policies? (Consider policy selection, estimates, earnings minimization, etc.) No Management and employees attitudes/ behaviors? (Consider morale, behavior, lifestyle changes, layoffs, changes to compensation or compensation expectations, ability to dominate, involvement in operations, knowledge and competence, anticipated layoffs, promotions inconsistent with expectations, etc.) No Audit issues? (Consider relationship with management, justification for accounting methods, lack of relevant No 6 March 2011 5E
Image of page 42

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

View Full Document Right Arrow Icon
C&W LLP Audit Program Inherent Risk information, etc.) Other risks? (Consider fraud, illegal acts, violations of security laws or regulations, uninsured risks, assets susceptible to theft, etc.). No 6 March 2011 5E
Image of page 43
MANAGEMENT'S OVERALL ASSESSMENT OF INHERENT RISK Indicate management's overall assessment (H M L I) of the inherent risk that their financial statements could be materially misstated as a result of error and/or fraud. If management's assessment is High or Moderate , identify the nature of the specific inherent risk concerns if not identified above , and the accounting cycle affected by the risk..
Image of page 44

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

View Full Document Right Arrow Icon
Image of page 45
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern