Question 1 (10%)Analyse the ratios with reference to the additional information. Identify the potential impact for the audit and any particular audit steps that need to be undertaken to reduce audit risk. For example, if there was a worsening inventory turnover, one of the audit steps would include a review for obsolete inventory.Answer this question using the following headings:(a) Ratio analysis (b) Audit impact (c) Audit steps to reduce riskQuestion 2 (10%)Identify the weaknesses in the inter …

| February 14, 2018

Question 1 (10%)Analyse the ratios with reference to the additional information. Identify the potential impact for the audit and any particular audit steps that need to be undertaken to reduce audit risk. For example, if there was a worsening inventory turnover, one of the audit steps would include a review for obsolete inventory.Answer this question using the following headings:(a) Ratio analysis (b) Audit impact (c) Audit steps to reduce riskQuestion 2 (10%)Identify the weaknesses in the inter …

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