PART 2 (INDIVIDUAL WRITTEN SUBMISSION - 20 MARKS WORTH OF THE TOTAL
Using knowledge from your group report in Part 1 and your own independent further
research, describe three (3) significant audit risks which might result in material
misstatements in GUD Holdings Limited's financial report. Using the template provided on
iLearn, for each for the three (3) risks:
Identify the key account affected (1 mark),
Provide the key assertion at risk (1 mark),
Explain why the account is at significant risk (2 marks), and
Provide one (I) relevant substantive audit procedure to address the assertion at
risk identified in ii) above (L mark).
Discuss how data analytics may be used in the audit of GUD Holdings Limited? Outline three
(3) data analytic procedures that may be used in auditing GUD Holdings Limited, providing
reasons for the procedures you have designed.
— Maximum 2 pages. You must use the template provided on iLearn for
LENGTH AND FORMATTING
this component Of the case study assignment. While you may vary the row height for each Of the risks
identified, you may not vary any of the margins in the template provided. The font size must be at
least 11 with no less than 1.15 line spacing using Arial, Times New Roman or Calibri font.