Auditing And Assurance
Executive Summary of A2B Australia Ltd Analysis
The report aims at gathering relevant information about A2B Australia Ltd and prepares a report that can be referenced by the senior auditors of the firm. The report will identify the main areas of operations of the company. An analysis will be conducted to determine the ability of the company to continue as a going concern. The report will also analyze the acquisit…
Audit and Assurance
Contents
Background description of JATCORP Ltd.
Ratio Analysis and Going Concern Assumption.
Background information about JAT.
Audit Opinion.
References.
Background Description of JATCORP Ltd.
Jatenergy Limited is a public listed company on ASX. JAT energy limited is a fast growing FMCG company. It helps Australian companies to trade with and build their brands in China and other Asian markets.
The r…
Communicating Key Audit Matters in the Independent Auditor’s Report
Table of Contents
Introduction:
ASA 701:
ASA 570:
ASA 315:
Wesfarmers:
Evaluating KAM and material misstatement risk for Wesfarmers:
Accounting for demerger of Coles –.
Impairment of non-current assets –.
Rebate to suppliers –.
AASB 16 Leases:
Discussion:
References.
Introduction to Wesfarmers Auditing and Assuranc…
Auditing Theory and Practice
Executive Summary of Auditing Theory and Practice
The report on the auditing measures of Boral Ltd (ASX code - BLD) and Coles Ltd (ASX code - COL) has disclosed the major areas of risks and the factors that can affect the going concern concept of the company. The report also analyzes the possible areas of concern for the two companies and how does it impact the quality of the financial report.
Table of C…
Auditing and Assurance Services
Contents
Basis for Qualified Opinion.
Emphasis of matter.
Other Matter.
Audit procedures to obtain evidence of uncertainty of going concern.
Audit report of Qualified Opinion.
Responsibilities of the Directors for the Financial Report
Auditor’s Responsibilities for the audit of Financial Report
Other Information.
Qualified Auditor’s opinion.
Basis for Qualified Opinion
…
Auditing and Assurance Services - Question 1
a) The auditor plays a vital role for the stakeholders as well as investors as the auditor enhances the financial statement’s reliability. Thus, to identify the material misstatement in the company’s financial statements, the auditor is required to be independent as well as competent.
The professional code of conduct states that the auditor must provide auditing services with due dili…
Auditing and Assurance - Part A
Auditing and Assurance - Question 1
Who appoints a company’s auditor?
The Australian Securities and Investment Commission.
The audit committee of the company.
The members / shareholders of the company.
The managing director of the company.
Type your answer here:
The members / shareholders of the company
Auditing and Assurance - Question 2
What are the main reasons that Auditing…
Audit, Assurance and Compliance - Week 1
As per this case study, Overseas Explorer Limited (OEL) acquired Local Proprietary Limited (Local) on June 30, 2018. Local Pty Ltd. is a small scale proprietary company and its acquisition was priced at USD 5 million on a single condition that Overseas Explorer Ltd. will be satisfied with the financial statements of the former. The CEO of the acquiring company seeks professional assurance serv…
Business Risks
Question 1
Business risks refer to the chances of a business getting operational and financial problems in a business surrounding. Majority of businesses usually encounter the business risks and often, the small businesses are more susceptible due to the insufficient availability of resources and minimal capital. The businesses may be caused by the deteriorating economic conditions as well as unfavorable government regulation…
Auditing for The Australian Subsidiary
Role-play script:
The meeting is scheduled between the audit clients, the Spanish manufacturing organisation establishing the business in Australia and their purpose is to look after their auditing for the Australian subsidiary. The meeting between the two teams for the purpose of information exchange are as follows:
CEO:
‘Good Morning, Gentlemen!’ As you all know ours is a Span…
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