Note:
I need 1-2 pages paper on the instructions provided below. Must include headings before starting each new section. Must include 1-2 scholarly references in APA. Your answer must be 100% original.
Instructions:
This project is about Audit planning work. Please answer the following questions regarding OverStock.com.
Preparing a Broad Audit Plan:
1. What material types of transactions and transaction cycles are involved in OverStock.com?
2. What are the high risk areas?
3. What are the low risk areas?
4. Assess Inherent and Control Risk. Set Audit Risk and determine Detection Risk.
5. Determine overall planning materiality.
6. What are areas of audit concern?
7. How will the audit effort be allocated among geographical areas?
8. How will the audit effort be allocated among financial statement areas?
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