Prepare a broad-based audit plan for 2013 based upon your findings in parts A–C by doing the following:
1. Determine the impact of the prior year’s audit opinion for the current year’s audit plan.
2. Recommend whether the control risk of your chosen company should be assessed at the maximum level or below.
a. Justify your recommendation made in part D2.
3. Discuss the control risk assessment identified in D2 and what impact it will have on the audit procedures to be performed. Include in your discussion each of the following:
4. Identify areas of focus for the upcoming audit, including specific balance sheet and income statement accounts based upon the significance of those accounts and their related risks.
5. Recommend which accounts identified in part D4 should be tested using analytical procedures and which accounts should be tested through substantive tests of detail.
a. Justify your recommendation made in part D5.
6. Discuss whether or not there is a going-concern consideration.
7. Recommend whether the audit should be conducted at one main location or if the audit team should be dispersed to other locations.
a. Justify your recommendation made in part D7.
8. Describe the five main steps the audit team will perform.
E. Include all in-text citations and references in APA format.