Big Bank:

Audit Strategy Recommendation: Combined

Reasoning: We should use a mix of methods for the audit. Since the bank is really big and deals with a lot of
transactions worldwide, we need a thorough approach. We'll need to check the controls in place and also
do tests to make sure everything is accurate and reliable. The internal audit found some weaknesses in the
controls, so we need to check those and also do tests to be sure everything's correct.

Tony's Control Environment:

Audit Strategy Recommendation: Substantive

Reasoning: Since there are good controls in place and regular meetings where they review things every day,
focusing on checking the actual numbers might work better. Tony's hands-on role in understanding the
financial results and guiding where things are headed shows that there's already a strong system in place.
So, instead of putting a lot of focus on testing controls, it might be better to concentrate on checking that
the financial info is correct.

LVSports Inc.:

Audit Strategy Recommendation: Combined

Reasoning: Even though the person in charge tried to make the rules better and the consultant said good
things, there's a problem: the way the rules are written isn't how they're actually followed by the staff. So,
we need to do two things: check if the rules are working well (like the consultant said) and also check that
people are actually following those rules.

2Fast Inc.:

Audit Strategy Recommendation: Substantive

Reasoning: Because there are a lot of new and inexperienced temporary workers who are making big
mistakes due to coming and going so often, it might be better to focus on checking the actual numbers.
Since there aren't many experienced people around, there might be some problems with how things are
controlled. So, it's important to check the numbers to make sure they're right, especially when there are
new staff changes happening a lot.

Emilia Inc.:

Audit Strategy Recommendation: Combined

Reasoning: There's a problem with the computer system for managing money that's causing the financial
info to get messed up. We need to do two things: first, check and fix how the system works (like upgrading
and maintaining it), and second, check the actual info to fix any mistakes. Doing both is important to make
sure the money info is right and trustworthy.