Consider and discuss the specific risks and nature of Apple Inc. 10-K (link above) form and create comprehensive work programs for the Property, Plant, and Equipment (Fixed Assets) and Owner's Equity accounts.
- Audit steps for tests of controls, balances, transactions, analytical procedures, etc. as well as other considerations such as sample size and sample methodology.
- A brief summary page should be included in this document, 525 words for each of the audit programs. Include in this summary specific financial information gleaned from the current Form 10-K used to perform an analysis of work program steps. For example, if the team noted significant swings in the Fixed Assets balance year-over-year, identify these swings, and how you address them in your work program (this is in essence an audit procedure - analytical review).
Discuss how you would come up with the sample size including methodology. I also would have liked to have seen you include some more specifics about Apple and its risks that you would have gathered from its 10K. Do certain things that you noticed in Apple's financial cause you to be worried about certain risks and/or cause you to potentially perform different or additional audit procedures?
Please use template format attached.