The writer is very fast, professional and responded to the review request fast also. Thank you.
During the year, Bobby’s management began centralising the company’s operations staff into the larger metropolitan offices. This has resulted in 350 employees (30% of staff) in the regional offices losing their jobs, with a further 150 terminations planned. All 350 employees who lost their jobs during the year have received all redundancy payments to which they were entitled. Employee entitlements to redundancy payments were based on years of service, base salary, accumulated leave balances, as well as any other incentives included in individually negotiated employment contracts. In order to expedite the process, a number of casuals were recruited to assist with the collation of relevant documentation and information for affected employees and to assist with the calculation of the redundancy payments. The work performed by the casuals was subsequently verified by Human Resources (HR) Team Leaders and the Group HR Manager in the Head Office prior to being finalised. Only the Group HR manager is authorised to make changes to employee details within the company’s HR information system. In your assessment, the amounts associated with the employee redundancy payments during the year are material.
Required
(a) Identify the key assertion at risk and outline your assessment of inherent risk and control risk in relation to Bobby’s redundancy expense account.
(b) For the assertion identified in (a) above in relation to the redundancy expense account, identify the appropriate audit approach and the nature (tests of controls, substantive tests of details, substantive analytical procedures) and extent (none, small, medium, extensive) of audit procedures to be undertaken. Justify the audit approach you have suggested.
Show more
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more