Overview of PWC Assurance Academy Presentation

Sep 16, 2024

Notes on PWC Assurance Academy Case Presentation

Introduction

  • Presenter: Arthur
  • Topic: PWC Assurance Academy Case
  • Overview of the first two tasks
  • Encouragement to check out cryptocurrency resources
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    • Binance: Alternate exchange with e-learning tools

Task 1: Determine Audit Type

  • Case Overview: Auditing a hotel company
  • Main Questions:
    1. What type of audit are we conducting?
    2. Key considerations to avoid getting overwhelmed with information.
  • Audit Types:
    • Limited Audit
    • Ordinary Audit
    • No Audit
  • Criteria for Limited Audit:
    • Total assets: 20 million CHF
    • Sales: 40 million CHF
    • Employees count
  • Key Documents:
    • Balance Sheet (in Swiss Francs)
    • Income Statement (check total revenue vs. net profit)
  • Findings:
    • Total assets and sales suggest an Ordinary Audit
    • Important to document reasonings clearly in communications.

Email Drafting

  • Start with the answer in the first line.
  • Include a simple table comparing client data from 2018 and 2019.
  • Highlight relevant numbers: Total assets and sales.
  • Provide explanation for the audit type determination.

Task 2: Advise the Client

  • Objectives:
    • Gather more information from the client.
    • Create a slide deck for findings and recommendations.
  • Sources of Information:
    • Internal Sources:
      • Management (CFO, CEO)
      • Records of board meetings
      • Future business plans
      • Financial documents
      • Budget documents
    • External Sources:
      • Lenders and outside investors
      • Industry reports
      • Press articles (fact-check)
      • Client's website
  • Data Gathering:
    • Meetings with management to review internal reports and documents.
    • Collect data from external sources effectively.
  • Efficiency:
    • Complete tasks quickly; multiple projects may be ongoing in a corporate setting.

Conclusion

  • Summary of tasks completed in the video.
  • Future content covering remaining tasks in the PWC Assurance Academy Case.
  • Reminder about cryptocurrency resources in the description.