Homework: 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:
o Calculate the required ratios for all given years.
o Identify and explain high inherent risk assertions.
o Analyze and draw conclusions about the nature and extent of tests of controls.
o Analyze and draw conclusions about the nature, timing, and extent of substantive procedures.
Format your homework according to the following formatting requirements:
o The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
o The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
o Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.