Homework: INHERENT RISK, TESTS OF CONTROLS, AND SUBSTANTIVE PROCEDURES
Inherent Risk, Tests of Controls, and Substantive Procedures
Overview
In this homework, you will prepare a 2 to 3 pages professional document that addresses the requirements specified in the case. Fully address each requirement and include at least two current references to scholarly and/or authoritative sources.
Instructions
Specifically you will be required to:
a. Calculate the required ratios for all given years.
b. Identify and explain high inherent risk assertions.
c. Analyze and draw conclusions about the nature and extent of tests of controls.
d. Analyze and draw conclusions about the nature, timing, and extent of substantive procedures.
Format your homework according to the give formatting requirements:
a. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
b. The response also includes a cover page containing the title of the homework, the course title, the student's name, and the date. The cover page is not included in the required page length.
c. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.
The specific course learning outcome associated with this homework is:
o Develop conclusions about risks, control tests, and substantive procedures for a given client using analysis and calculations.