Maintain attribution Tht Goog Xt "watermark" you see on each file is essential for in forming people about this project and helping them find additional materials through Google Book Search.Keep it legal Whatever your use, remember that you are responsible for ensuring that what you are doing is legal.For example, during a recent site visit, you overheard an employee inform a prospective client that approximately 20% of the persons listed in the database have advanced degrees, the average age of those persons listed in the database is approximately 40 years, and that about 50% of the persons listed in the database never have been married.
Keep in mind that the implications of a misstatement depends on its magnitude and that you need to allow for sampling risk even if you were to find no misstatements.
In addition, you should indicate what, if any, additional information you need before you reach any conclusions.
Recall that an audit plan (also called an audit program) is a detailed set of instructions as to how to conduct the audit, it is not a memo.
To simplify matters, assume that the information about specific members in the database is susceptible to only four types of potential misstatements: entry errors (accuracy concern)- errors which are introduced during the entry of data obtained from clients into the database, misrepresentation errors (accuracy concern) - errors introduced by clients who misrepresent facts about themselves, fictitious listings (existence concern)- persons are listed in the database who do not belong therein, and omission errors (completeness concern)- failure to list someone in the database who should be listed.
The attest team has decided to focus its attention on the following assertions which appear on the most recent Form D1: Assertion Detail Average age 42.1 years Average income $60,025 Percentage of persons with advanced degrees 18.8% In practice, attesters must determine what constitutes a material misstatement, what procedures to perform to verify each key assertion, when to perform such procedures, and the extent to which such procedures should be performed.
Attesters then must perform such procedures, evaluate the resulting evidence, and finally, reach a conclusion about the veracity of the assertion.
The firm has been engaged by DDS to attest to the veracity of information contained on the most recent version of their Form D1.
This form is important because it is the basis for the oral assertions which representatives of DDS make when attempting to induce persons who inquire about joining to become new clients.
You should specify substantive tests-of-detail procedures which would produce evidence on each of these four types of potential misstatements.