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 ,