Assignment Question
Audit planning is one of the most demanding and important aspects of an external audit. Auditors summarise client and industry background information and discuss important accounting and auditing issues related to the client's financial statements. Your assignment is to find and document information for inclusion at the audit planning stage.
Obtain the necessary information by downloading one of the public company's most recent annual report from its website (you are to select one from the list below) or other sources of information.
i. Written Component
Address the following matters in your response:
Part 1 - you are to complete the information asked for in Attachment 1. A copy of the sample answer is provided to your Audit Manager.
Part 2 - you are to complete the information asked for in Attachment 2. Copies of a guide on how to answer this and a sample answer are provided to your Audit Manager.
ii. Presentation
|
Commencing
|
Group No.
|
Company
|
|
Week
|
|
|
|
9
|
1
|
JB Hi-Fi Limited (JBH)
|
|
|
2
|
Harvey Norman Holdings Limited (HVN)
|
|
9
|
3
|
Kathmandu Holdings Limited (KMD)
|
|
|
4
|
Billabong International Limited (BBG)
|
|
10
|
5
|
Nine Entertainment Co. (NEC)
|
|
|
6
|
Ten Network Holdings Limited (TEN)
|
|
10
|
7
|
Westfield Corporation (WFD)
|
|
|
8
|
Villa World Limited (VLW)
|
|
11
|
9
|
Huon Aquaculture Group Limited (HUO)
|
|
|
10
|
Tassal Group Limited (TGR)
|
|
11
|
11
|
Bellamy's Australia Limited (BAL)
|
|
|
12
|
The A2 Milk Company Limited (A2M)
|
|
12
|
13
|
Warrambool Cheese and Butter Factory (WCB)
|
|
|
14
|
Bega Cheese Limited (BGA)
|
|
12
|
15
|
Virgin Australia Holdings Limited (VAH)
|
|
|
16
|
Qantas Airways Limited (QAN)
|
Each member of the audit team will be required to present Part 1 and Part 2 at the start of an assigned seminar.
Part 1 Template - Information on Group's chosen company
With the most recent annual report of the chosen company complete the requested information in the following template.
Part 2 Template - Overall inherent risk assessment
With your team understanding of inherent risk in auditing (ASA200) complete the requested information in the table below. Information obtained from the annual reports and any other credible sources must be referenced.
Attachment:- Assignment and Presentation.rar