Module ~2 A udltt Comuidera tion Chast uditos shoud plan this work to een Dir i conduct an effertive audit in anehicens — and timely manner Plan shoud be primauily n 20 lient'’s business. em Cs - _Covetoge of plan: © fequining knowledge of the client accounting | system | po oLities anol internal contro] 1106 Ae @ Setabsising the expectesl degree of peliante | tobe Slated on intemal “contol. 6 Determining and {Ps0gzomming fhe notixe, | timing and extent of audit Proedue tobe _ | pesxtfosmed: ihe) Conondinating “tha wort 1 be Qesdormad: pS M enswe that App sropsutate attention iS olevoted to impostant aruas Of He Qudif Qieniies that Potental ane One i promptly identifiedauditors and. expescts - : e- A a ma ai ab Sau i a Te uttise G@)ueitise the axwstante (Property, | @) Co-ovdinate the work done by Othe wo : Ea Ea 2 The quidites can Obtain Knowledge of Pf eaient businent Frome forewing sources: enn a) He—can Clients annual seaport to shauchobles b) Minute of mictingof ghasholders, BOD; - pt ternal Sinenetel _amanagemenk reps: A) Previous Yyeor auclit ubork/ng Pa pet. 2) Discussions with the cttent sv / H) Ctient's polity and Quocedutes manual. Q) Visits tote — clients’ @penvises-anol Plant Paces. r t (1) Vrowiedge about Client's businens > "Urol sequisad Special” confdeotton foo thes elo ct on the worle (9 Curent oak. i y Comprext Wok oD Ch ip 1 the emonag omganizational — atwuctwres « | b) Newos Closed Doiomnises « I EArt nn et prackices andl | Quod"Pan fa lminy Pectin z ——4 heaps ard 4 of py of sxanir ee hacia Relevourre of any mattex to be COIBU eon yy CUets intetnol auolitor- Es 12) SE pvivonwent 1a which the Rees fle exeaete) B) Pe JCBUERE Ga vein Wut (egrs lation y juste and fons affe cting C=the sent eee i" b) CO Csr Paminess leveloprrond affecting the Clank - @) Changes In fechnol? gy 2 of Puroolucet , pmooluction Qindl plist bution eXvices- he The Statement oP acudliting practices iti usol | i by TeAL loys olown the fortowrng que ae _Covuidetation for auolitor: a) 3 and Lair view The auoltted financial | Btodements must coer cleasly show the Mosueds Hop the woaring of the com fos the Oot and tighdtud be tn are oem with tho > dest of fcheotiule- 3 of Cor gg Coonparnis The psotit ox oss of ¢ oe re alisclse true oncl fac vied. b) Mates! ality Eur amuaenacl I aii tac iernas ts | =be properly phtaclosod . oR kam pta:-Opavo x EE = - : aes H esuiod adh jutbments A __Non~ 92 usting O89 ee unusual items of (nlore 0% [osser- via fein nceptoP -matonioity (co Subjective: i [Tithe fidatment Of emak hob meads auditor E Profexste nat “ec pautence, a ve 2) Arangtical Study luhile Giving pHevious year ~] pt = 3b — bee = Pique, O _ o-mpe iy hei be amade with the hetp of vasuiorS yattos anol i Parope 2x planaktor “amust be sought from the | wiwt* FF these is any srgnitiant. i Duc 0S ghowd alic Kamins” evidences to verity consitency of explanation given by tvanweneut: Se ust be th wnbirmation tlh dy) Accounting Pokiig d pecountiy pyucctes Fie wed p2__ Cry the 0 ing _gtarclasols ond pcatba—in T ccereeberncabens er nei A Ge earch Hanctas 1 er Ormmen dla-tions Of LCA: The pepicees qmuat be in consistent with the bas accounting | Que ncip les * i} Contos Auditor Should cavehutty | Ox amine He ex's prternal “onbel be five 2 pasting qudit (Paogkam , He may use flowcharts re internal contzo| qyusstionnaties. ae Aoabailot intoonal Control! will hetp to phn extent of quolit Dowceduua to be ws ed by “pa in the AHear of coaake ‘ternal | cal oucior Must Ly mone Feo Hes 2 imphove Pucceol* Any t+tecomme rnold fio fethe intewnol noe ghd ol alse be inate _in the “auclE Hepoet= aay has 2] 7s ae tons cs Fi, E $i) Auditor's ogee no. [hp sy auoli ton Opps (oe ial shes eiofersional jol@Pendort as wer oss: Lol Hout patejuclice to Wis datutor distr He mut fone priobessioned ethics = in dischaige of ls —}= f 9) dis asus: = Pruoli bo# Bhowd ensure thet Here is CPuopext dliscloywe of aut wetrwarnk foi ats infosmastion, amar ang tt Mog uiscedl by Conpoury Wesne ae Low acd accounting Perna -Contigert died libes_a”mwait be “properly ae W) Oo od acaunty:— ‘tose [s te Suey. ap whether p4opes books of aCcunts howo been Kept by Hw sapany og _hot- — al eect fuclitons Ch jeckve ie na is fo satsty that Hu! cee ei aly they betta fee Cent bes (a eks 104 cae aadm not subset feta vel vyolucd eC ete. get pee dimiett AY cute Mabilites Qu Pecophlly Nelapoloal claysifced , ancl Ai Sbseo] » tr! (J sbouwtd atio fabshy Wiielf that He deabidles ate actual Y peablitiu Ose not Were book entsw -— || guch tnlemation a Repose Then te the Porol and amwxt tmposdant a ERS z ; e eg: iB Sess Papas Tallon mutt meio isp | Gn Mok! (woe pieY Papers Ahawwi ag : cup lone by“bim ox Wis axristands, | Infemakion Given by the client a4 _cectis Preol with ee Com pusk exci ed AtCoun:— a the accountiant | Compt wired s{tann ketal Rout nople Ria eokuutcae a {Peco ann And auclit wart accor dingy - | 7d 1a) gtaqe of auditing He should neve fape Gob Come wwe olaafting fhe Papel Tt Leets necenany fo quatify © bis seport thon he nwt quaupy tHe sane Yevithout any hesitees [ee ome ast care th Pomme h Ta at | pepont 8 Prescribed by fre statute S U Qubtopieaa i) frearof advo Cond 97 yan awoliE Of Finontict giatenant auditor may identtfy [| dedication companys trtermal conto! 8 yor | Dinonretal Ropaseting. A contv! clefretanty 2*0E [when the dean OF the 0 poxation 0 Econtr} | Tae aM pot crlow andhaden ety COM. 14 GARBee a parca! course oF Sens tale Function to ptt ont ae ola tect meusl temeta 0 tt aa bowls: Ran A hod! exis when ae a SRE ey the ContoOl obyedkive fs eat aniing. z b? An extlirg Cobl fs not Prmpety Aleiired “Bothot even WP He Lontorol Openoctey The_Crtea Objective not Pat bind: a aaerr 0seing— W's. 2 ~oxting ord L Proudlitont meee par poscting frwotves wlakion ov Palriakion. oF siocorcls, PER AA MN OUnt pI [Cees Can be Maniputoteo! ot falsifted ~ Lin Pottowing -mannesu; a) Not srecovcling x I tromiactions- _b) eS dummy Loca. fie) bide Apphico ton Gof accounting Polite, iz a 3) Metotial WeakrOs (Hakeiat Tet aenel | _ _pepeny hiscese!) F The cuir ghowtol | Consioler moteriatity eolile Vlannita ap wei) | as olotng the atoltt - The trhormation 3g amoseitt (Fis Wwabetevent coutol | inPluence the eceneC le textons «ALI tie | cool phen routd WweHt peretoveat in tha ain ne ee +> Aucditos’S Communication WITTE tuctuating wrrthese ery elciiciens, Hc Peomal Contre) debraency, rwhetektwat ov ators urea kes iSobsosweol bY the audit nwt be ee Se a + Lae[compuninte! tn ert 10 aMonogenact [ond audit rn Te a cont Hen [communication ghoutd he mola prio Co the | pease ek auolitos a perp ortle on finandal _ [plalement Fhe allt camnmunicabton | EShoutal cleasty SENG AT bereenn the se Lorettea Conidorod aiqntPieane AUNT) and these Coniidamed anata even Enesses. TTF no Buch committees, 2x etswith 24e5 peck [Othe comparny att Ga haketented fo [the ecotit Committee “ghoulol apply to [the ekiare BOD, ff eae mae ast2 Companied Lulich alo 5 [CSE rlapcliclont eee am qudit ones EA EWES Cage Eh | Maklttor) Should ip alice aie hack of “icles inclependlant dtettosu or | Qn anoliE committee at there compar Trout Of conkrel oleffenues s . [EP oveUTgRe Of Companys extounal [ Pinancal pepostting andl intestinal conte! | Ovex Feranctal HX posting by Tae TeOurs | ouditi Gamrithee (isa (reppebven iiet Cittumstarces show be pegavoleol ar attwaye oo _aiqythiant alebruenu end a asters (nolicatey ln at a ammoterxial weoknen te (uketnal wnhe/ | over fe ranr dat Sepagetey KIVA TR the larotmestteea betwee Aware habe OVER 1 Of company extemal Prantl wang and jakenat Cortel Ova hnesccal | j 1 peopoeting by TS company’s USE COTNASthot Hae on ae = audile Croker cal qoeokners tn Wells fo the Bods. (1 Cluole = committer Commutation Aho o) fra oleRNRench 3 conte koPruen and motos evoaliners- AIS Haga 4 fo which Cot of DAY XS beng Ce revit Seat __b) Sait apa an srobennt @nol not p30 viole a 8SULLON 00 Sonat OM) jntesenal Continel. 3M On statemont Fre Ho Communicabhor is ~ i atenolac! Frolel fioy the ihbywoklOh onal ee ee ee nd othe: ittal Cant stint oe | seg © suury ittain The OF AMS OLN « Ww thas PAYER estebtttedl Gy esi : oF Ae ee pero Ose seopHey OPUS Auck vos Hen. ¢ O . % pe co Ae gue Keron fo Ruch noes PRG IOHPYY Otto sehy We Ga nad——_| the Omoune of Labliity shat be olleeminad ont valuation date Aepestately fost each Mra i of bwines Ond in accordance with the seo tations - 7 CO) Premium Uareve > a) Uneainedl Puanior~ VaIawve 3 The : s e epeuately fos each ~ Line of business sing app20 puiarg method. upp hot be aeloynrsed fox ghost term, annual ancl Jong texm potiues jn @amanner 2uck (PRE alin oars 1S recognised fam | tho olofe of inspection over tha Goslod of | jrswiance Contact . y Tb) Puemium oleficienty weseyve> The I pee PDR Zhan be colCuated 22 poy | he oock tine of pusines’ using Suitable actussial vethod | paintipje + tn guch | dekennntration Any regative POR fis any neo pines 3 houtd “not “be Bet of F Og odnst any | positve PDE OF ony othox pine of9 busines. th galdition the PDR Shot be. A operat ety | astimated is any Qouoluct thet contibutey Tol ox more fos Gros Domestic Pram [inwme ee PDR show be Certifted iby a pot a . ler. an eeees Teese — URR IS 3urm “OE UPR and POR ~ORR Ghau also be valuadClAEM 905 oe > @) Claire Gheeve? a) Outsanoling & [> Outstencurg Claim serewe eS @ cleketmi cg _ Nessorably according fo the inset © Tho (tere Tpaast Power Care by Cate mothed otter taking tate . Tactamt the ariowances offerchanges rd) | Betttement Potty, Overago Cloiv | Oimounrts ete. [bared Bulb Abt Pzposted Claim seserve | 5 The appointed actuary Bhall eskmnate per ts | IBNR Claim aoservet on both methods E Lites not of So-inswlante, and 7% of Dare ft niusance bos + The tRWR Shaul linctude sue lated ctaim handling eyponyos GI Veteanni nation of hurt FEAR Hes [fle General Enswuxt shall 6 place c propex [value in puzpert of following ftoms t Ta) Puevidr for doubtful olebbl +) Roiewe | Br oliviclenddeclasud ands} outstanding [ cliviclenol ot Hut. | p> Prout dua fo wu4tort2 Compouwres | Cony ng on PAhwance businen. i TO) Amounts olueto gundry CHeol foses | 1 Cperoviston fox taxation dates in full: dy yortalgn 7 exehorge CPserve- Conclusion Every General Wwe . ghoul eatt— went of Liabilities coxtt t oS e—iteder a - | atlocatid log ond unatwoated Low a reneed actuasy and He POA OS ee Casa rN ck: | aceondonce with espe Hive Jeckion OP tha _ack + aa Approved by the Auth A thoi ty = Ae | eee coer RS = | the Proud gure Factor 1A) Bouakiing “ison | gowite ord Frmawane gechy con nelude Fhe | Po hoewing + I (@znternel Conte! Weakness tradequate | pwkemal control witttn Finanwal tnayettitton | can Create Opposetunities Pox Fraud Tris inctuolay ingutuent seqqaakion of oluties, Lack o& Toverngrt ond “ineffective mMondtoring mech anismy. ; d a | J Owen Froniad 2M The Compien rp Lex by Pinonual pryduce such as Aesuvatives Jand | aberctwred Peeoducey can obscure 95K anol Poovide Oppoxeunctliea fox Praudulent oetvittes | ike amtsve presentation OF Manipulation + Progsure_to anect taxyet 3 Zim ploy ces ray © prow to achieve Finanual tryed which can iNcert{wise unethical behavious [Buch ax falsifying yocov » musyeporit'ng Ginancial tnformotion oF ang aging in deceptive E | protec’ Sai | ) |ea pee ) Tofoxmatidral Sy nrabry—= hare hold, -___|_Imbolante between “customers ~—__-2mployees _can be oxpioiteol fox Fraudulent | Purpase = Foy 2xample*= t oe | “on non- public im ation ~ ©) Technological Vutnerabi litt 2s Vth increase fa Teliante on technoleyy Vulnevebitittes Ake * Cyber attacks olata breaches and unauthesys| by accels to Bystems Pose significant Prrowuol wu'sk- Lomppiance % Requtatory aisk> Non — ba ce | Comptiante with ulotory prequirenctnts on Linduatry apd 2xpose Lenancial eas inatituttons to Legal and Seputotinal put mating | | from yutnerabie to Fraudulent activites. H ~@thied Posty Rsk Outsousmeing Certain | Punecton or welyi on third Pox venclor i Con intrdue oddétional Rraud oiisk “such as ~ andlor misconduct, jnooleguate control or al olata lsreacthes- a _OLmpoyee rmiseonduck 2 trtemal Frauol teeepespetrated by &Mpleyees fnctuoléing | embarrtemenk ef bribery or Kickback Can pose Biqni€ icant wISkK to financial (vititution. u @) Cxtoma frawd3 External Qautin incluclerg i Cutomnes OY Clients MAY engage fh LS Reoudutent activites Auch as” identhy PRAT COLA era +we uty | ‘Can Moyea Prauchilent Activites ay i are escort to antes 25 a ba | Profexio nal Steptiuism: © Grpiiance and Regutatory Pisks > | Non- eater fiance gutth gapUlOkoyy 9Loquixernonts om india ala BlanclosoU Can ey pose Linon wstlhutios fo Aeged onal se pukertrenod ars ka Profersionots amust Arey absaoist oF Qvolv iro “yan ulotions ond arauiie adthetence tO Compliance Eb T Poa aworts fekeiyaly these gisSbz: 7 a aan @ EHC Cute and Tone at the Top? The Organizational Culture nd anole Set by [ gentos Ananacemmt (Ploy o Creal a . Lin Ahapin ety col bdhovfour wittin A conial jrlttuttor- A Culture thot Grosset es | fategrity, teanypasenty, anol CnC ocean vet Uy ¢ con clebes Froudilent activitres And PH omokem ee a abong ptlicol onvivonmnant - i @ Limp lay e Trot city ¢ anol fwastonen > + P ovieliny Comprehoaive “ frountag PW Jramy ‘ond OWOLN Lat Ca wp ulnar on Froud Puwertivo, | eticat Condlunck , ond poporiting Mechubwu [Conompower employes to mecognite and ocd ress [_potentiot Froud tists proattivery.| Such as v aw conclyct, inacle suits ov i. 1 7 oe. ay q obusl sy Se : (MRIS oni aketivecch marplunerice ss ee ae : Vendor management procera and due i); al = mei ELEC EED mitigats thee SuSE + T oe —— need I . meat @) Dain ieou ys and technnlva ye Solstinn | [a -- Leveraging hate analy, Qnet cnteetaged = ; advanced technology Solution, such at osicificicg | PCE Tntettigence ancl machine Leasoniry algoputrns, con. enbiance Froud clefection capabilites by identihying Patterns , anomaue, ona suspiccouy CHER within farige datasets in seol-tive- ReChenisPs? Patebhsteng Conhe Wes He blower | oletetiion and inbewenh' on. Chonners and puoledioni-meckanivms en Cou%ag ey Crpoyeu, Cuatowen, onol or Atarehocter, {0 Report —_ purtpect eof Prowl ox aw conouatk witht Feay OF THA on, citar eanly @__Continwows Honitoxing And ucliting: Tony cpa nous Mont eying necro cmd internat Wl ca, an Concluch”9 size tot help Pinanecal insti tations Pra ctivery tolontihy emerging Foul por, (aie He conte and oaddyen i _ efreck venels OF