ACCT107 Analysis – Audit Planning – Client Risk Profile (50 Points)
Spring 2014
GENERAL INSTRUCTIONS
Prepare a clear, complete, and concise analysis of the topic described below. Your analysis should follow the order listed and be no more than two pages in length.
Your analysis will be graded on content, organization, grammar and punctuation.
Analyses must be prepared in Microsoft Word and submitted to the D2L Dropbox. You may submit multiple versions of your analysis but only the last version submitted prior to the assignment due date will be graded. All submissions will pass through the D2L automatic plagiarism detection system.
Analyses submitted late will be assessed a 10 point penalty. Analyses submitted more than 1 week late will not be graded and scored as 0 points.
TOPIC
You have contracted to audit the Paragary Restaurant Group. According to its website, the company is a pioneer in the Sacramento restaurant scene that owns and operates restaurants and bars within the Sacramento region. Each restaurant or bar has a unique concept, but is held to the same standard of high quality food, service and atmosphere, making the company one of the most successful restaurant groups in Sacramento.
http://www.paragarys.com
IN YOUR OWN WORDS
1. Describe your responsibilities for gaining an understanding of the company and its environment as required by auditing standards.
2. Identify and describe the following:
a. Types of information you would gather about the company and its environment regarding the client risk profile
b. Types of audit procedures you would perform to gather that information
3. Describe how you would use that information about the client risk profile to properly plan your audit.