BAO5524 Professional Auditing :SWOT analysis on BSL to evaluate business risk 16

SWOT analysis on BSL to evaluate business risk 16 (ii) Major risk areas to be addressed in the audit of BSL for the year ended 31 December, 2018 10
Reasons why the identified areas are considered to be high risk. 15
Calculation of appropriate ratios and/or comparisons. 10
b) Outline the main audit procedures for (4) of the risk areas you identified in (a). 12
c) Strengths (4) of the purchases and payments system of BSL 8
For each strength, suggest one test of control 12
Weaknesses (4) of the purchases and payments system of BSL 8
For each weakness identified:
– the likely impact on the audit risk 8 – the test(s) which can be used to minimise this risk 8
e) List any actions you should take to address the concerns raised by Charlie Smith. 15
f) Three programmed controls 9
three manual application controls 9
g) Use of “Active Data for Excel” add-on to Microsoft Excel to audit the non-current assets
of BSL (Five tests required – Excel file marked)
15
Report summarizing the following:
i) The audit assertions and objectives tested; 10
ii) detailed procedures utilised to achieve each of the audit objectives. 10
iii) outcome of your procedures, and 10
iv) further audit implications. 15
Presentation (including format for audit planning memorandum

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