Discuss risks and nature of the company you will be auditing
Assignment
Consider and discuss the specific risks and nature of the company you will be auditing and create comprehensive work programs for the Acquisition, Payment, Property Plant, and Equipment (Fixed Assets), Notes Payable and Owner’s Equity accounts and cycles.
Submit a 700- to 1,050-word document that includes the following:
• Audit steps for tests of controls, balances, transactions, analytical procedures, etc. as well as other considerations such as sample size and sample methodology.
• A brief summary page should be included in this document, 525 to 700 words, for each of the audit programs. Include in this summary specific financial information gleaned from the current Form 10-K used to perform an analysis of work program steps. For example, if the team noted significant swings in the Fixed Assets balance year-over-year, identify these swings, and how you address them in your work program (this is in essence an audit procedure – analytical review).
The highlighted section is my section. Please stick to the word count (Between 525 to 700 words) and section should be in own words.
The team is using Coca-Cola as our company and here is the link for the annual 10K form:
http://www.coca-colacompany.com/content/dam/journey/us/en/private/fileassets/pdf/investors/2015-annual-report-on-form-10-k.pdf
I have included below what the rest of the team has written so far since we will need to include any significant swings found by my other teammates.
