PRACTICAL CASE

NIA 300
AUDIT OF STATES PLANNING
FINANCIAL

Seminarista:Rudy Estuardo Meda

 AUDIT PLANNING MATRIX
SAN CARLOS COMPANY, S.A.
AUDIT PLANNING

AUDIT EFFECT AND IN THE

i PRELIMINARY ACTIVITIES SITUATION IN THE COMPANY
REPORT
NIA220
There are no problems to continue the relationship with the client
1 CONTINUATION OF THE RELATIONSHIP WITH THE CLIENT None
SAN CARLOS COMPANY, S.A.

No team member of the assignment has interests in

2 ETHICAL REQUIREMENTS None
SAN CARLOS COMPANY, S.A.

3 INDEPENDENCE A letter of independence of the team in charge was presented. None

To express an opinion on the reasonableness of the statements. Analysis of the opinion upon conclusion of the
4 OBJECTIVE OF THE WORK
financial audit work
 AUDIT EFFECTAND IN THE
ii GLOBALAUDIT STRATEGY SITUATION IN THE COMPANY
REPORT

1 FRAMEWORK OF FINANCIAL INFORMATION IFRS Analyze compliance with IFRS

IMPORTANT CHANGES IN THE FRAMEWORK OF

2 There are no changes considered None
FINANCIAL INFORMATION

3 REPORTS REQUIRED BY REGULATORY ENTITIES Profit regime on lucrative activities Report for the SAT

4 COMPONENTS WORK CENTER Branch in Petén and Chimaltenango Effect on inventories and fixed assets

Consolidate the information for your

5 CONTROLLING AND SUBSIDIARY RELATIONSHIPS The controller is in the capital city of Guatemala.
analysis

6 USE OF OTHER AUDITORS It is not necessary None

7 REPORTING CURRENCY AND NEED FOR CONVERSION Financial statements in quetzals There is no need for conversion

Review of the monthly reports of

8 USE OF INTERNAL AUDITORS The company has internal auditing.
internal audit

9 USE OF SPECIALISTS The company revalued fixed assets Use of the evaluator according to ISA 620

10 SERVICE ORGANIZATIONS Not applicable None

EFFECT OF TECHNOLOGY ON PROCEDURES Data availability and utilization of

11 Audit software
AUDIT computer-assisted techniques

12 report dates Final submission date August 26, 2016 Compliance with the date
 AUDIT EFFECTAND IN THE
ii GLOBALAUDIT STRATEGY SITUATION IN THE COMPANY
INFORME
13 EFFECTIVENESS OF INTERNAL CONTROL Proper controls Evaluation of internal control

Cheques voucher 1250, recibos 1520 y facturas especiales

14 VOLUME OF TRANSACTIONS Detail tests
35

USE OF AUDIT EVIDENCE OBTAINED Evidence related to risk assessment and testing of
15 Evaluate the materiality
IN PREVIOUS AUDITS control

COMMUNICATION WITH THE PREVIOUS AUDITOR Last year was audited by Deloitte. Review of working papers

Official communication of the audit procedures that Application of technical procedures

17 AVAILABILITY OF STAFF AND CLIENT DATA
they will be carried out, for the collaboration of the staff of auditing
 AUDIT PLANNING MATRIX
SAN CARLOS COMPANY, S.A.
AUDIT PLAN
Accounts Receivable
NIA315

Number Account Balance % Description Risk Nature Extension Opportunity

Send notes of
It is identified as part
balance confirmation
110101.0201 CIENCIAS ECONOMICAS 370,000 38% related and detection risk is not confirmed 29-jul-16 100%
and sales control
balances
billed

Review of
60% of the bill is 7 compliance with the
110101.0202 LEGAL SCIENCES 250,000 26% Control risk 29-jul-16 100%
months of debt políticas de crédito
established

Review the
background of the
It is indicated that the account carries documents
110101.0203 THE CHATOS 190,000 20% more than 1 year and cannot be located Control risk uncollectible for 29-jul-16 75%
to the owners check that it was used
all the instances
for the collection of these
Examine the
The supporting documentation does not sales authorization
is physically there and I don't know what gave rise to the balance
DOÑA TINITA, S.A. 155,000 16% Inherent Risk 29-jul-16 100%
has confirmation of
balances Send note of
balance confirmation

TOTAL 965,000 100%

Note: Regarding the receivable documents, it is important to always keep in mind not to lose sight of their physical existence as well as to verify their
formality to ensure that these can actually be converted into money.
Thank you for your attention