fb
$20 Bonus + 25% OFF
$20 Bonus + 25% OFF
Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!
loader
Add File

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

BBAC601 Auditing And Assurance

tag 0 Download15 Pages / 3,567 Words
  • Course Code: BBAC601
  • University: CIC Higher Education
    icon

    MyAssignmentHelp.com is not sponsored or endorsed by this college or university

  • Country: Australia

Question:

Audit Strategy

In this assignment you are assumed to be an auditor who has just been appointed by your auditing firm to perform the audit at a particular client. You are in the process of understanding the client and produce part of an audit strategy to help plan the audit for the 2017-2018 financial year, in accordance with the guidance on Australian Standard on Auditing (ASA) 315 (paragraph A25 to A49).

Part A: The Client:

Information about the client

Name: Telstra Corporation Limited. Tls

  • Address
  • Year of establishment
  • Field of operations
  • Period of financial report period under consideration
  • Type of financial report (consolidated or single)

2.2. Industry, regulatory and other external factor

  • Economic condition (upturn or downturn), overall and within the sector
  • Law and Regulations applicable to the client
  • Level of competition
  • Name of main competitors
  • Level of government’s support
  • Level of demand for goods or services provided
  • Is there any current or potential significant barriers to entering the client’s industry or market

Nature of the entity

  • Its operations (i.e. area or types of products or services)
  • Major customers
  • Is the client heavily dependent on any specific customers or class of customers
  • Major suppliers,
  • Ownership’s structure and details about corporate governance to some extent (Board of Directors, audit committee, etc.)
  • Operational structure (any branches within and outside Australia, location of warehouses, etc.)

Accounting policy

Main accounting policies may include:

  • Policies regarding property, plant & equipment (PPE) (e.g. cost or revaluation model)
  • Policies regarding inventory (perpetual or periodic, FIFO, average etc.)
  • Policies regarding account receivables
  • Policies regarding financial instruments
  • Policies regarding intangible assets
  • Policies regarding revenue recognition.

Related parties and transactions with related parties

  • Controlled entities (names and percentage of financial benefit or voting right)
  • Non-controlled entities (names and percentage of financial benefit or voting right)
  • Other related parties (names and their relationship with the client)
  • Transactions with related parties in the financial year

Part B: Analysis of the client and impacts on the future audit work:

Changes in accounting policies and the impact of changes

  • Any changes in the year compared to prior years and the possible or actual impact of these changes on the financial report.
  • Any expected impact as a result of the changes in accounting standards in the future.
  • Discuss the potential impact of those identified on the future audit work

Preliminary analytical procedures

  • Provide at least 5 ratios (using formulas provided by the text book or lecture notes) for the current and the prior year. Of the three ratios, three below are compulsory: current ratio, quick asset ratio, debt to equity.
  • Comments on the ratios and any anticipated impact on the future audit work.
  • Comments on the client’s ability to operate as a going concern.

Measurement and review of financial performance

  • Identify the measurement and review of financial performance (e.g. Director’s remuneration, employees’ performance measure and incentives, loans with conditions such as maintaining a specific liquidity ratios, etc.).
  • Discuss the potential impact of those identified on the future audit work.

Objectives, strategies and related business risks

  • Identify the objectives or strategies (any plan to develop new products or services, or to expand the business locations, use of information technology)
  • Identify the related business risks (the risk that that an entity’s business objectives will not be attained as a result of external and internal forces brought to bear on an entity)
  • Discuss the potential impact of those identified on the future audit work
 
Download Sample Now

Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days.

Upload
Unique Document

Document
Under Evaluation

Get Money
into Your Wallet

Total 15 pages

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2020). Auditing And Assurance. Retrieved from https://myassignmenthelp.com/free-samples/bbac601-auditing-and-assurance.

"Auditing And Assurance." My Assignment Help, 2020, https://myassignmenthelp.com/free-samples/bbac601-auditing-and-assurance.

My Assignment Help (2020) Auditing And Assurance [Online]. Available from: https://myassignmenthelp.com/free-samples/bbac601-auditing-and-assurance
[Accessed 29 January 2022].

My Assignment Help. 'Auditing And Assurance' (My Assignment Help, 2020) <https://myassignmenthelp.com/free-samples/bbac601-auditing-and-assurance> accessed 29 January 2022.

My Assignment Help. Auditing And Assurance [Internet]. My Assignment Help. 2020 [cited 29 January 2022]. Available from: https://myassignmenthelp.com/free-samples/bbac601-auditing-and-assurance.


Dissertations are the hardest form of assignment that a student is ever assigned – one for which professional dissertation help of the highest quality is a must. MyAssignmenthelp.com is one such dissertation help company in New Zealand that offers top-notch services. Not only do they provide dissertation writing services, but they also have dissertation editing services on offer for students who need it.

Latest Audit Samples

BUACC3741 Auditing

Download : 0 | Pages : 10
  • Course Code: BUACC3741
  • University: Federation University
    icon

    MyAssignmentHelp.com is not sponsored or endorsed by this college or university

  • Country: Australia

Answers: Introduction Present study is based on evaluation of various aspects of audit by considering its significance in present commercial era. Study is bifurcated in three questions which deals with pressure on auditor, changing role and responsibilities of auditor and opinion provided by them on the basis of analysis respectively. 1. Pressure is the part of the life of any auditor whether it be professionally or academically. Pressure c...

Read More arrow Tags: Australia Bayswater Accounting Accounting Theory and Application University of Sydney 

ACC707 Auditing And Assurance

Download : 0 | Pages : 10
  • Course Code: ACC707
  • University: Kings Own Institute
    icon

    MyAssignmentHelp.com is not sponsored or endorsed by this college or university

  • Country: Australia

Answer: Introduction In the year 2008 Australia face tremendous economic crises. In which a major company of day care of children collapsed. A child care and old and disable training center was introduced by a company name ABC Learning Center. It was not one of its kinds but still rose with a tremendous speed. The speed was so much that even the management could not control the success of the company. Within five years of working the ABC Lear...

Read More arrow

ACC300 Auditing And Assurance Services

Download : 0 | Pages : 9
  • Course Code: ACC300
  • University: Kings Own Institute
    icon

    MyAssignmentHelp.com is not sponsored or endorsed by this college or university

  • Country: Australia

Answers: 1. As the firm Mortdale Accounting is under peer review process, it shall not disclose the details or any information to any person outside the organization. Confidentiality is to be maintained by every person who is involved in peer review process including the peer review team, the members of the Board, the audit team of the firm, assistants or any other person who was involved in the audit process (Cappelleto, 2010). Hence, the ...

Read More arrow Tags: Australia Melbourne Management Accounting Integrated report  University of Melbourne Masters in Business Administration 

ACC707 Auditing And Assurance

Download : 0 | Pages : 6
  • Course Code: ACC707
  • University: Kings Own Institute
    icon

    MyAssignmentHelp.com is not sponsored or endorsed by this college or university

  • Country: Australia

Answers: 1. Independence of Auditors: While conducting the audit, the auditors need to act in accordance to the generally accepted auditing standards. Such standards must ensure that auditors need to conduct audit technique with care along with mind’s objective status. Independence term is a conceptual aspect and is quite complex to define (Abbott and Lawrence, 2015). Additionally, auditor needs to maintain objectivity, integrity along ...

Read More arrow Tags: Australia Mernda Management principle of finance University of New South Wales Masters in Business Administration 

HA3032 Auditing And Assurance Services

Download : 0 | Pages : 16
  • Course Code: HA3032
  • University: Holmes Institute
    icon

    MyAssignmentHelp.com is not sponsored or endorsed by this college or university

  • Country: Australia

Answer: Introduction The overall report is based upon the assessment of the bank namely National Australian Bank (NAB) that assess the every aspect of the organization at several criteria’s like nature of the entity, industry regulations and external factors that influence the organization. Similarly, it also assesses the business risks and strategies arise in the operations. Furthermore, it also explains the performance measures and mo...

Read More arrow Tags: Australia Bentleigh Economics project management simulation University of Melbourne Management 
Next

Content Removal Request

If you are the original writer of this content and no longer wish to have your work published on Myassignmenthelp.com then please raise the content removal request.

Still in Two Minds? The Proof is in Numbers!

33845 Genuine Reviews With a Rating of 4.9/5.

student rating student rating student rating student rating student rating
28 Jan 2022

Management

Essay: 8 Pages, Deadline: 16 days

Amazing work and I got a full mark on my assignment .thank you so much for your help

flag User ID: 9***1 United States

student rating student rating student rating student rating student rating
28 Jan 2022

English

Home Work: 2 Pages, Deadline: 9 hours

Well done and on time. Very happy. Not graded yet but It looks good! I would recommend to my friends and classmates!

flag User ID: 8***56 United States

student rating student rating student rating student rating student rating
28 Jan 2022

Healthcare

Essay: 8 Pages, Deadline: 7 days

That was good work done by the experts, the only problem was some spellings of some things, no plagiarism.

flag User ID: 3***08 Australia

student rating student rating student rating student rating student rating
28 Jan 2022

Marketing

Home Work: 2 Pages, Deadline: 10 days

best grades i have ever seen thank you so much for this amazing experience and I will be back for more thank you so much

flag User ID: 3***37 Dubai, United Arab Emirates

student rating student rating student rating student rating student rating
28 Jan 2022

Healthcare

Assignment: 6 Pages, Deadline: 4 days

there was no plagiarism, the work was done well and the expert was very good and proffessional

flag User ID: 3***08 Dubai, Australia

student rating student rating student rating student rating student rating
28 Jan 2022

It Write Up

Assignment: 8.8 Pages, Deadline: 10 days

very nice report created. thank you so much. appreciate it a lot. hopefully i get a good grade

flag User ID: 5***95 Dubai, Australia

student rating student rating student rating student rating student rating
27 Jan 2022

Healthcare

Essay: 4 Pages, Deadline: 20 days

Great expert did a good job on the solution and i am impressed. i want other experts to learn from this expert and always deliver the right assignment ...

flag User ID: 2***97 Upper Marlboro, United States

student rating student rating student rating student rating student rating
27 Jan 2022

HRM

Essay: 2 Pages, Deadline: 2 days

thank you for your help it was greatly appreciated and I received a 85 on my paper. definitely will be using services again

flag User ID: 6***74 Upper Marlboro, United States

student rating student rating student rating student rating student rating
27 Jan 2022

Management

Essay: 3 Pages, Deadline: 1 day

I am glad about the service. they answer all your questions well, and the team is respectful. they are excellent at writing essays with fast delivery.

flag User ID: 7***54 Upper Marlboro, Canada

student rating student rating student rating student rating student rating
27 Jan 2022

Project Management

Assignment: 8 Pages, Deadline: 20 days

I am pleased with the marks I received on this particular assignment. Thank you!

flag User ID: 6***97 United Kingdom, Great Britain

student rating student rating student rating student rating student rating
27 Jan 2022

Accounting

Home Work: 14 Pages, Deadline: 10 days

Got a good grade. Nice work. Had support until the delivery of assignment and delivered work a few days before than promised.

flag User ID: 7***68 United Kingdom, Great Britain

student rating student rating student rating student rating student rating
27 Jan 2022

Electronics

Home Work: 5 Pages, Deadline: 7 days

I am so satisfied. Great job. Recommended. Fast delivery and smart experts......

flag User ID: 8***52 United Kingdom, Norway

student rating student rating student rating student rating student rating
27 Jan 2022

Nursing

Assignment: 4.8 Pages, Deadline: 8 days

It was very well structured and all the instructions were followed.. The order was also completed on time. minimal grammatical mistakes.

flag User ID: 7***50 United Kingdom, Australia

student rating student rating student rating student rating student rating
27 Jan 2022

Psychology

Home Work: 2 Pages, Deadline: 1 day

This is a really good service, It is rare to have them miss the assignment. I always come back with at least an 85

flag User ID: 4***21 Charlotte, United States

student rating student rating student rating student rating student rating
27 Jan 2022

Psychology

Assignment: 1 Page, Deadline: 1 day

This is a really good service, It is rare to have them miss the assignment. I always come back with at lease an 85

flag User ID: 4***21 Charlotte, United States

student rating student rating student rating student rating student rating
27 Jan 2022

Maths

Assignment: 2 Pages, Deadline: 4 days

helped me so much when I was at a time crunch, and they really pulled through for me

flag User ID: 5***12 Charlotte, United States

student rating student rating student rating student rating student rating
26 Jan 2022

Statistics

Assignment: 5 Pages, Deadline: 12 days

Great service and perfect work and fast feedbacks as well i have no doubt in the work

flag User ID: 2***25 Khobar, Saudi Arabia

student rating student rating student rating student rating student rating
26 Jan 2022

Marketing

Assignment: 1 Page, Deadline: 6 days

Got help from this expert for this assignment. I got an A and was very pleased with the help and grade. Will use again.

flag User ID: 5***56 San Francisco, United States

student rating student rating student rating student rating student rating
26 Jan 2022

Property Law

Assignment: 12 Pages, Deadline: 12 days

Just received very good marks. Very happy with his service. Answer all questions nicely and all require points are included and good eassy writing sty ...

flag User ID: 6***34 San Francisco, Singapore

student rating student rating student rating student rating student rating
26 Jan 2022

Project Management

Assignment: 6 Pages, Deadline: 1 day

I got my assignment delivered before the deadline, and it was an excellent job done.

flag User ID: 8***21 San Francisco, Nigeria

5% Cashback

On APP - grab it while it lasts!

Download app now (or) Scan the QR code

*Offer eligible for first 3 orders ordered through app!

screener
ribbon
callback request mobile
Have any Query?