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BAO3306 Auditing

tag 0 Download 13 Pages / 3,089 Words tag 28-06-2021
  • Course Code: BAO3306
  • University: Victoria University
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  • Country: Australia

Question 

Background

The rationale for BAO3306 Auditing as per Unit of Study Outline is that on completion of this unit students should have a sound understanding of the underlying concepts of auditing and in particular of financial auditing. By adopting a logical, structured approach they should have the capacity to analyse the salient audit issues and apply relevant auditing theories and succinctly communicate their professional, ethical decision.

One of the unit outcomes requires students to be familiar with key tools used by auditors for collecting and evaluating evidence, in both manual and computerised accounting information systems, which will enable them to express an opinion on the fair presentation of financial reports.

To ensure the audit is carried out efficiently and in a timely manner, the auditor develops an audit plan for the conduct and scope of the audit. ASA300 states that the auditor shall plan the audit so that the engagement will be performed in an effective manner.
 
1. For the purpose of the assignment, you assume the role of an auditor and your firm has recently been appointed as external auditor of an entity. As required by Auditing Standard ASA300, you are assisting your Audit Manager in preparing an audit plan for the audit of the entity’s financial statements.
2. The audit fee is $700,000 and had been communicated to the client in the Engagement Letter.
3. You are required to download the 2016 annual report published by the following entity: - Reece Group Limited (http://www.reecegroup.com.au)
4. Using information in the relevant chapters of the textbook, the company annual report and other relevant information, preparing a document for your Audit Manager to assist him in planning the audit. 
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Total 13 pages

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[Accessed 06 October 2022].

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My Assignment Help. Auditing [Internet]. My Assignment Help. 2021 [cited 06 October 2022]. Available from: https://myassignmenthelp.com/free-samples/bao3306-auditing/materiality-level.html.


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