Audit, Assurance and Compliance Assignment -
Computation of income statement and balance sheet ratio, and Development of common-size financial statements and focus on relevant audit risk and potential steps to reduce risk.
Research Assessment: Download a company annual report which is listed in ASX and must be present in ASX S&P 300 index, along with this annual report, student should download corporate statement of same company.
Company Name - Wesfarmers Ltd
Structure of your research report:
1. Executive Summary of the assessment
2. Focus in each headline the implication of ASX Corporate Governance Principles from your selected company (reference link B attached). Conceptualize and explain how to your selected company implements ASX CGC principles (read carefully from reference link A.3 and A.4 to follow attached)
3. Risk assessment (When performing an audit, you use risk assessment procedures to assess the risk that material misstatement exists. This step is very important because the whole point of a financial statement audit is finding out if the financial statements are materially correct. How exactly do you assess audit risk?) There are various steps of risk assessment procedures, but your report will focus mainly:
Recognizing the nature of the company, what's the company's market overview? Who (if anyone) regulates the client? What's the company's business strategy? Computation of income statement and balance sheet ratio, and Development of common-size financial statements and focus on relevant audit risk and potential steps to reduce risk (reference link C attached).
Attachment:- Assignment File.rar