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AnswersProfessional Level Options Module, Paper P7 (INT)Advanced Audit and Assurance (International)September/December 2015 Answers1Briefing notesTo: Audit partnerFrom: Audit managerSubject: Audit planning in respect of Dali CoIntroductionThese briefing notes are prepared to assist in the audit planning meeting for Dali Co, our manufacturing client supplying machineryand equipment to the quarrying industry. The notes contain an evaluation of audit risk along with recommendations of theadditional information which is relevant to audit risk evaluation.

payment period to suppliers has increased by five days. If there is doubt over the collectability of receivables, then certain balances may need to be written off, and there is a risk of overstatement of receivables and understatement of operating

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