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Financial System and Auditing

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Financial System and Auditing
Table of Contents

Executive Summary……………………………………………………………………….
Introduction to Tesco……………………………………………………………………..
Effectiveness of Accounting System at Tesco …………………………………………..
The main financial statements of Tesco. ………………………………………………... Financial statement……………………………………………………………….. Benefits of the financial statements……………………………………………… Income statement ………………………………………………………………… Benefits of the income statement………………………………………………… Cash Flow statements……………………………………………………………. Benefits of the financial statement……………………………………………….
Accounting concepts………………………………………………………………………
Factors that influence the nature and structure of accounting system………………..

Management control system……………………………………………………………..
Types of business risk……………………………………………………………………. Internal risk………………………………………………………………………. External risk………………………………………………………………………
Cadbury code……………………………………………………………………………..
Control system and procedure …………………………………………………………..
Types of fraud…………………………………………………………………………….
Detection and implication for the fraud…………………………………………………

Introduction to audit……………………………………………………………………..
Right and duties of the auditor………………………………………………………….
Liability of the auditor……………………………………………………………………
Internal audit and external audit………………………………………………………..
Audit planning and audit testing of Tesco………………………………………………

Statutory Audit Report…………………………………………………………………..
Audit Report of Tesco ........................................................................................
Reference…………………………………………………………………………………

Executive Summary

Following audit report is made using available media information. This gives full audit report on management control system which will evaluate the effectiveness of accounting system, business methods for detection for fraud and planning and conduct of an audit process as well as purpose and content of a statutory audit report of Tesco Supermarket. Past failures in the process of auditing financial
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