Analyze and assess the risk, including fraud, involved in the company
and industry
Identify the relevant PCAOB audit standards and address their
relevance to the Newham audit risk assessment
Sample Audit Program: An audit program involves compiling a list
(program) of procedures for the auditors to perform in order to obtain
evidence and
reasonable assurance that internal controls are operating properly and
thus producing accurate financial statements. To compile a sample audit
program, you have been provided with tests of control in revenue and
inventory.
You must identify the relevant PCAOB audit standards and address their
relevance to the Newham audit program. Include other elements as
applicable to
Newham.
Report of Recommendations: Based on an auditor’s experiences and
knowledge of accounting, finance, and common errors or pitfalls, it is
common for
an auditor to provide recommendations. The sample audit program
addressed here is merely a small sample, not a comprehensive program.
Thus,