This document of ACC 492 Week 4 Case Study Assignment (Case 8.1 Laramie Wire Manufacturing) includes:
Using Analytical Procedures in Audit Planning
1. Perform analytical procedures to help you identify relatively risky areas that indicate the need for further attention during the audit, if any.
2. Focus specifically on each of the five management assertions (existence or occurrence, completeness, valuation or allocation, rights and obligations, and presentation and disclosure) for the inventory account. Link any risks you identified for this account in question 1 to the related management assertion. Briefly explain identified risks or issues for the inventory account that require further attention, if any.
Background About Laramie Wire MFG.