15h 43min, feb 4, 2025 y - Progroup Key WP Review

Description:

Sig risks - Revenue, m/overide
Revenue £129m
Group PM £1.8m
Substantive audit
Goods only
Manufacturing Board from paper
All made to order
Buy raw materials from Group
M/Overide
- journals testing
- sales debit entries; waiting on client
- rest is fine
Revenue
- generally incoterms is DAP
- all customers are UK based
- 4 hours delivery time
- no MLP
- cut-off; agreed
COS
- no walkthrough on production costing process
- sample agreed back to ledger
Admin
- sample of admin & distribution costs tested; no issues
- payroll SUAD & MLP £190k
Legal
- Peel case; £3.2m; outstanding construction work. Outsourced to another firm. Lawyers confirmed £3.2m
- some debtor confirmations received not all. additional procedures carried out
- bank confirmations recieved
Accruals - volume based rebates; PY utilisation agreed and CY checked and happy

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