Audit Planning & Analytical Procedures

“Audit Planning” Please respond to the
following:

• Determine
  both the relationship of risks in the planning of the audit and factors
  that influence those risks. Speculate on which type of risk creates the
  most uncertainty for the auditor, and recommend at least two ways to plan
  the audit to mitigate those risks. Provide specific examples.
• Imagine
  that you are a senior auditor, and your firm has been selected to audit a
  medium-sized sporting goods company with one single location. Describe the
  four phases of an audit and discuss the key factors that would help you
  determine how to plan the audit for this company. Provide specific
  examples.

“Analytical Procedures” Please respond to
the following:

• Identify the components, limitations, and
  inherent risks of not properly crafting an engagement letter. Give an example
  of how the engagement letter would be different, depending on whether the
  client is considered to be a low- or high-risk client. Provide specific
  examples.

• From Case 7, in 2008, Harley-Davidson was
  accused of inflating sales by recording revenue when shipments were delivered
  to dealers, instead of when merchandise was sold to customers. Describe the
  analytical procedure(s) that could have been used to identify the overstatement
  of accounts receivables and sales. Recommend at least two ways to plan an audit
  to test for the accuracy of sales, and discuss the types of exception reports
  needed. Recommend at least two analytical procedures for collecting evidence to
  ensure compliance with the controls. Provide detailed recommendations.

Please keep the bullet points separated and these are discussion questions that’s only paragraph or two for each bullet point