ACC321 : Accountancy -Audit - Accountancy Assignment Help

Internal Code : 1AJBFC

Accountancy Assignment Help

TASK The audit partner has suggested that the preliminary assessment of materiality for the financial report as a whole be set at $15,000. Comment on the appropriateness of this figure for your client. Provide evidence to support your view. Include a briefdiscussion of the effect that changing the preliminary assessment would have on the audit budget. Prepare an analytical review (in the form of a trend analysis) using the income statement items from the trial balance. Note: Present your analysis in table format; comments on the results are not required for requirement Use the trend analysis to identify 3 income statement accounts that appear to be at-risk of material misstatement. Provide justification for why these accounts should be subjected to significant audit testing. In your explanations, identify an assertion that is likely to be at-risk for each account (i.e. identify 1 assertion per account; 3 in total).