Objectives: Analysing role of auditing in company's annual report / public disclosure.
Select a public listed company with disclosures available from company's website and answer the following:
1) Number of independent directors and executive directors in the audit committeeor equivalent. (if any)
2) Who is the chairman of the audit committee (if any)?
3) How many number of meetings (if available) held by the audit committee during the year?
4) Name of the external auditor?
5) How much is the audit fee paid to the external auditor for the current year?
6) What is the nature and amount of non-audit services provided by the external auditor?
7) When was the audit report issued?
8) Briefly describe the structure / contents of the audit report.
9) To whom (full name) the audit report is addressed to?
10) What is the type of modification (if any) in the audit report?
11) What are the standards or legislations that management and auditor complied with as according to directors' responsibility paragraph and auditor's responsibility paragraph in the audit report?
12) Which financial statements dothe auditor making explicit reference to in the audit report?
13) What are the business and geographical segments (as according to AASB 8) of the company? (only if applicable)
14) Are there any inter-segment sales and what is the largest component of these inter-segment sales?
15) How many subsidiaries or controlled entities does the company have?
16) Briefly describe how would the information from question 13) to question 15) changes the extent of your audit works?
Attachment:- auditing.docx