Posted: August 25th, 2022
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REQUIREMENTS
Develop a planning memo for the MTC engagement based on the information provided in the case. The planning memo should address the following issues:
(1) Business risks.
(2) Audit risk factors.
(3) Accounting issues, related management assertions impacted by these issues, and planned audit.
You should avoid assuming that the partner will fully recall all relevant facts, or that she will immediately recognize all important implications of those facts. In short, be sure to describe the specific facts that you consider relevant and explain the implications for the MTC engagement. In addition, you are not expected to outline all audit procedures that would be performed on the engagement. Instead, just provide a general overview of how KDOK might approach the audit for each accounting issue identified.
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