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Essay / Research Paper Abstract
A View of Legend Holding Limited: This 10 page paper provides an overview and assessment of audit risk by considering the specifics of the financial report for Legend Holding Limited in 1999. This paper reports specific issues for this relatively new economic company and provides a distinct view of the issue of audit risk as it applies to an understanding of fiscal changes. Bibliography lists 8 sources.
Page Count:
10 pages (~225 words per page)
File: MH11_MHAudLeg.rtf
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Unformatted sample text from the term paper:
it applies to an understanding of fiscal changes. Bibliography lists 8 sources. MHAudLeg.rtf Audit Risk: A View of Legend Holding Limited Written
by 10/2001 Please Introduction In 1999, some major changes in the focus of Legend
Holdings Limited, Chinas largest computer manufacturer, determined a need for greater accuracy in their reporting and accounting systems. One of the issues, the standardization of their accounting principles, was
recognized as a factor that had the potential of limiting the availability of the company for external investment and possible expansion of existing operations (Legends Holdings Ltd, 2001). As
a result, an assessment and auditing of their 1999 fiscal reports and an overall view of the principles related to the financial operation of the company provides a beneficial example
of necessary assessments in related to audit risk. In considering the specifics of audit risk for Legend Holdings Limited, it is necessary to relate some of the elements
included in audit planning for corporations and also recognize issues related to the standardization of auditing and accounting principles in order to view the overall issue of risk. Assessments
of the auditing process are also beneficial in creating a substantial overview for this company. Audit Risk Audit planning incorporates the use of analytical procedures designed to
consider the issues of risk and materiality as a component of the role of an auditor. The development of analytical review procedures has extended as a result of the
need to determine a focus for an auditor and define the underlying reason that potential problems occur. In general auditors use this kind of process to demonstrate a systematic
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