PA1 - Assigmnment 1 CGA Essay - 1129 Words

Answer 1 A – 1 B – 1 C – 2 D – 4 E – 1 F – 3 G – 2 H – 2 I – 1 J – 1 Answer 2 MEMO DATE: Sept 14, 2014 TO: Edward Sloane, Senior Audit Partner FROM: XXXX, CPA, CGA Subject: I have been auditing Vehicles For Hope Limited (VHL) for the last five years, however during my recent meeting with the accountant I was informed of several changes that have taken place during the last one year. I am writing this memo to apprise you of these changes and seek your feedback on audit planning. Significant Donations: Two months ago a long standing board member donated land, building and equipment to help VHL accept more applicants for the training. In†¦show more content†¦Accounting Software: The accountant has raised several issues in regards to excel based accounting process. He is of the opinion that a new off the shelf software be implemented however is worried about the cost of implementation. I have recommended some off the shelf software’s however I have advised him that as an auditor I cannot provide any significant consulting or process improvement. Even though he was interested in me helping him implement the new software, I had to say no as that may create a conflict of interest. Do you think that we could play a more active role in accounting software implementation? Key Performance Measures One of the board members have asked to create a report of the key performance measures number of new applicants and projections for the future given that they have new building and land. This report will be given to all parties who will receive the annual report and the board has asked me to comment on the suitability of such report. Even though most commonly required information is provided in the audited annual financial statements VHL is free to use special purpose reports like the key performance measures to meet the needs of its donors. However I have advised the board that these will not be a part of the audit process and we will not be certifying them. Please advise if my approach is appropriate. Expense Report I have been advised that during the last one year VHL had several issues