Assurance specialist fullreview date note

Info icon This preview shows pages 36–39. Sign up to view the full content.

View Full Document Right Arrow Icon
Assurance Specialist - Full/Review Date Note: Independence Checklist for an audit client must be signed off by “Assurance Specialist – Full” only. Ensure that the signer has appropriate
Image of page 36

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

View Full Document Right Arrow Icon
BRISK certification for this sign-off. If unsure of signer’s BRISK level, review BRISK database in Lotus Notes or contact the Regional Assurance Partner. I have reviewed the Independence Checklist and Memo, and concur with the evaluation and conclusion of C&W's independence for this engagement. Risk Partner/Manager - Assurance Date Note: Risk Partner/Manager sign-off is only required when a significant independence issue has been identified. Ensure that the signer has appropriate BRISK certification for this sign-off. All engagements in a defined assurance specialty (i.e., credit unions, first nations and public companies) must have a supervisory and peer review by appropriate industry-specialized BRISK-designated professionals prior to issuance of financial statements or other documents. Initial Date Prepared by Detail Review by Supervisory by Peer Review by
Image of page 37
C&W LLP Audit Program Inherent Risk C&W LLP Audit Program Inherent Risk Client: Dollarama Inc. Client #: 450165 Year/Period End: January 29, 2012 Inherent risk is the risk that the financial statements may contain material misstatements, regardless of the control environment and related control procedures in place. This questionnaire is designed to assist in identifying inherent risks and should be completed by senior file preparers. Identified inherent risks factors, in combination with the results of analytical procedures and our understanding of the entity and its environment, including its internal controls may indicate an increased risk of fraud or misstatement. The questionnaire is not an exhaustive list and all engagement staff should be alert for and consider any other conditions that may indicate audit risk. All risk factors should be considered for every audit client. Where the factor does not apply, indicate with N/A. The questions are stated so that “Yes” answers highlight conditions that may indicate inherent risk that should be addressed on the Risk Assessment Summary (RAS). “Yes” answers require the exercise of professional judgment in evaluating their significance. Where there is a checkbox, clicking to put an “x” in the box will show additional details for that risk factor. Document the specific risk and related cycle for the appropriate item(s). Where an inherent risk specific to a client has not been noted in the following questionnaire, identify and document the noted risk under “Fraud Risk Factors”. If a checkbox has not been selected or if a “No” answer has been provided for any of the inherent risk factors below, where under “normal” circumstances, we would have expected some level of inherent risk to be identified, describe the reason why such risk is not associated with a particular client (i.e., special circumstances) under the “Describe Risk” column.
Image of page 38

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

View Full Document Right Arrow Icon
Image of page 39
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