In this assignment you are an audit senior that is planning the audit of the financial statements of CINEPLEX
INC. (CGX ticker symbol on the Toronto Stock Exchange) for the year ended December 31, 2014.
CINEPLEX INC. has been a client of your employer, an international public accounting and consulting firm for
many years. The preplanning phase of the audit has been completed and Fyou have accepted the engagement.
All information used to prepare this report should be from PUBLIC sources. State any assumptions you find it
necessary to make.
Required:
Prepare a report with the following components:
1. Develop CINEPLEX’S risk profile. When performing analytical procedures, please ensure you tie in the
results of the analytical procedures to the impact on audit procedures (5-6 pages).
2. Determine an overall risk assessment by considering each component of the audit risk model. You may
have to consider the various risks by cycle if applicable (2-3 pages).
3. Set overall planning materiality and support your decision (1 page).
4. Identify “key audit issues” you are concerned with prior to the audit execution and determine their
impact on the key components (cycles) (4-5 pages).
Reporting format
A title page with your group’s names and student numbers should be provided. An Executive Summary
is strongly recommended.
The body of the memo should be written in narrative form (i.e., not outline or “bullet point” form,
although you may use bullets from time to time) and should be no longer than 15 pages in length, not
including any exhibits or appendices. The report should be typed, double spaced (left and right
justification), with one space between paragraphs or headings. Use a 12 point font and standard
margins.
The report should be well-written and professionally presented. Your grade will be determined on the
depth and completeness of the report, the integration of the analysis, the style and content of your report
and your professionalism and creativity.
Exhibits/appendices to your report should include, at a minimum, the following:
1. Analytical procedures that support your analysis.
2. A reference section citing all significant sources searched, consulted, or used in the preparation
of your report.
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