1- What do you think could happen if we don’t perform process walkthroughs during our planning phase of the audit? Do you think client’s understand why we need to perform these? Do you think they are a waste of time for the auditor?
2- Similar to what Amanda does here, can you pick either a financial statement line (asset, liability, income statement item) and apply the applicable audit assertions to it. What are some assertions management is making on that ABCOTD?
See Amanda’s example in the video below.
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