AFM312 Assignment 2
- a) Identify the factors that would affect the preliminary assessment of inherent risk and control risk at Queen Island Dairy.
- b) Explain how these factors would influence your choice between the predominantly substantive approach and the lower assessed level of control risk approach for sales, inventory and debtors.
- a) What key assertions for the above accounts are likely to be affected?
- b) Explain what evidence would be persuasive in this case.
- a) Make a list of the potential problems that could occur in Powersys’ Maintenance and improvements program.
- b) Suggest ways that good internal control over parts, equipment and labour could help Powersys’ avoid these problems.