Analytical Procedures and Audit Planning Analytical Procedures and Audit Planning Review the corporate annual report and the financial statements for Hillsburg Hardware found after p.172 (Ch.6) in your text. Review the analytical procedures presented and illustrated for Hillsburg in pp. 224-232. Write a paper of no more than 1,050 words to accomplish the following: Using the Common Size Income Statement on p. 227 of your text, what do the analytical procedures on the Income Statement indicate as to potential red flags and business risk? How would you plan your audit accordingly? Using the common financial ratios presented on pp. 230-232 of your text, what do those analytical procedures indicate as to potential red flags and business risk? How would you plan your audit accordingly? Format your paper consistent with APA guidelines. Click the Assignment Files tab to submit your assignment.
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