Auditing Assignment Example | Topics and Well Written Essays - 500 words

Auditing - Assignment Example I will ask my client to include a statement in the client representation letter stating that all the minutes have been provided. The letter of representation directs that it is the responsibility of management to provide all statements and that management statement to the auditor during the audit process, are true for instance information regarding a subsequent event occurring. Increment in the annual dividend from USD 32 to USD 36, as an auditor I will ascertain that the calculation based on this increament is true and that it was paid to shareholders on April 25, 2011. The amount of money reflected in the financial statement paid to shareholders as dividend should also be verified by the auditor. Approval of increased budget for 2011 administrative expenses of $ 1m to open offices in the Portland area, As an auditor I should ask for reasons of acquiring the new offices, whether it’s for the company usage, rental purpose or for individuals in the company. The auditor has to be informed of the expected rise in administrative expenses. The proposed acquisition of one of Tetonic smaller competitor he auditor should be in a position to know how far the negotiations have gone and be in a position to identify any financial commitments to the merger or acquisitions of the companies since every stakeholder has to be given the information concerning the status of the company. Environmental Protection Agency (EPA): As an Auditor the issue has to be taken seriously since it has both internal and external effects and can therefore influence the financial position of the company since dust has got an effect on people in terms of health and that the company will be compensating the victims, so the auditor should update the stakeholders in consultation with the management and legal counsel. The Auditor should take keen interest