Step

Entity Name:
Engagement Name:
Period End:

MV Reethi Rah Resort Private Limited

MV Reethi Rah Resort Private Limited - 2009
12/31/2009

Title:

(ISA 315, 330, 500) Understand and evaluate control activities

Completed By:Nadarajah Dhames/LK/ABAS/PwC 10/19/2009

Reviewed By: Jatindra Bhattray/LK/ABAS/PwC 02/13/2010
Status: Reviewed

Details
Tailored Procedures:
Procedure to be performed, guidance and
template links

Documentation of understanding and evaluation of controls

Conclusion (Link to validation or

documentation of decision not to
validate)
If we determine that reliance is going
to be placed on this area of control
we need to validate its effective
operation.

R Control Activities
Ensure that, in applying the audit comfort cycle at Policies and procedures of the company that are relevant to
the entity level, a sufficient understanding of
policies and procedures that are relevant to the audit have been evaluated in order to assess the risks of
audit, and that those policies and pocedures material misstatements at the assertion level.
have been evaluated in order to assess the risks Company is managed by OneandOnly Management, a renowned
of material misstatement at the assertion level multinational, and bounded by policies and procedures of
and to design further audit procedures
OneandOnly.
responsive to assessed risks.
PwC Audit 4233
For key risks evaluate the design of the entitys
related controls, including relevant control
activities, and determine whether they have been
implemented. For risks that can not be reduced
to an acceptably low level with audit evidence
obtained only from substantive procedures,
evaluate the design and determine the

As per our overall assessment of

the entity's internal control frame
work, (since it is effective) we will
place reliance on the control
activities in the areas of sales,
purchases, inventory, property,
plant and equipment, accounts
receivable, treasury, investment
and payroll.
Revenue and Receivables

>>

Purchase and payables

>>

implementation of the entitys controls, including For identified key risks, management controls have been
relevant control activities.
documented in the ACM.
PwC Audit 4275 PwC Audit 4314
All the key risks will be addressed by tests of details.

Inventories

>>

Property,plant & Equipment >>

Treasury process

>>

Payroll process

>>

Refer ACM for documentation

with regard to key risks.

Results:
Attachments:

Categorisation
Area 2175 - Control activities
Status & Maintenance
Status:
Maintenance
Edit History:

Reviewed