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

Error goes here

HI6026 Audit, Assurance And Compliance

tag 0 Download12 Pages / 2,775 Words tag Add in library Click this icon and make it bookmark in your library to refer it later. GOT IT

Question:

Topic: How is Enhanced Auditor Reporting being embraced in Australia?

Background and Context:

Since 2016, there has been a strong push to improve the quality of audit reporting. Listed entities now have to report on “key audit matters” and improve the way material information is communicated using “plain English”. As mentioned in the CPA Australia podcast “How is Enhanced Auditor Reporting being Embraced around the Globe?” (available at CPA Australia website):

“The IAASB’s new auditor reporting requirements commenced in December 2016. Standard setters in many jurisdictions, including Australia and New Zealand, have issued the new requirements with the same effective date, whilst others have committed to issue the standards but have not yet done so. The UK have had similar requirements in place since 2013 and some firms in other countries have early adopted the IAASB’s requirements. Jim Sylph, Co-chairman of the IAASB’s Auditor Reporting Implementation Working Group, and Merran Kelsall, IAASB member and AUASB Chairman spoke to CPA Australia about the uptake and impact of enhanced auditor reporting around the globe.”

Research Assessment:

Download an annual report of an ASX listed company that is in the S&P/ASX 300 list. Review all the sections within the selected company’s annual report, which relate to the Auditor’s role in providing assurance over the entity’s financial statements and control environment. Students will need to review and analyse the following key areas included in the company’s Annual Report:

Auditor’s Independence Declaration Independent auditor’s report

Non-Audit services performed by the Auditor

Auditors’ remuneration

Role, functions and composition of the Audit Committee

Independent Auditors report to the members (shareholders)

Review all Key Audit Matters noted and the associated audit procedures

Required:

Based on your analysis of the auditors’ sections and other areas pertaining to the auditor, as included within the Annual Report, submit a report which summarises and evaluates the auditor’s assurance services performed for the client company.

As part of your review of the assurance services provided, consider the following:

Has the auditor complied with Independence requirements?

If there were non-audit services provided, what was the nature of such services?

Provide an analysis of the Auditor’s remuneration in a table with prior year comparisons. Include percentage changes and explanations of the remuneration.

In relation to the key audit matters, which audit procedures were performed to provide assurance over each matter? Summarise and paraphrase each key audit matter. Correctly classify each audit procedure listed as: tests of controls, substantive tests of detail, substantive test of balances or analytical procedures.

Is there an Audit committee? Are there any non-executive directors on the audit committee? Is there an Audit Committee Charter? If so, summarise the main points of the charter including: the structure, function and responsibilities of the Audit Committee.

What type of Audit Opinion was expressed?

How do the Directors’ and Management’s responsibilities differ from the Auditor’s responsibilities in relation to the financial report?

Were there any material subsequent events? If so, briefly outline them and paraphrase and summarise how they were treated.

As an interested third party stakeholder, make an assessment of the effectiveness of the material information reported by the Auditor in your conclusion.

Consider whether there is any material information which could be missing, under-reported and/or not fully explained or disclosed in an effective way for the intended users?

What follow-up questions would you ask the Auditor at the company’s Annual General Meeting?

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 12 pages, 1 USD Per Page

Cite This Work

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

My Assignment Help. (2021). Audit, Assurance And Compliance. Retrieved from https://myassignmenthelp.com/free-samples/hi6026-audit-assurance-and-compliance/analysis-of-wesfarmers.html.

My Assignment Help (2021) Audit, Assurance And Compliance [Online]. Available from: https://myassignmenthelp.com/free-samples/hi6026-audit-assurance-and-compliance/analysis-of-wesfarmers.html
[Accessed 20 April 2021].

My Assignment Help. 'Audit, Assurance And Compliance' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/hi6026-audit-assurance-and-compliance/analysis-of-wesfarmers.html> accessed 20 April 2021.

My Assignment Help. Audit, Assurance And Compliance [Internet]. My Assignment Help. 2021 [cited 20 April 2021]. Available from: https://myassignmenthelp.com/free-samples/hi6026-audit-assurance-and-compliance/analysis-of-wesfarmers.html.


It is time to end your struggle with the referencing styles. You just have to visit MyAssignmenthelp.com to get authentic referencing results regarding major styles, such as MLA referencing, APA referencing, etc. The service is free of cost and offers immediate results. If you are working on Harvard referencing, you just need to type in the necessary details in the Harvard reference generator. The tool will provide you with accurately formed referencing. Thus, you do not have to waste time searching for Harvard or APA referencing guide on the Internet. The service is tailor-made to serve your purpose.

Latest Management Samples

CSS 4301 Organizational Communication

Download : 0 | Pages : 3

Answer: Introduction The study is focused towards the case of the pastor and the church in order to find the essential aspects related to supervisor and management of subordinate members. The pastor of the church had left and it was up to the other members to look for a new supervisor and an effective model. The members of the church organize a meeting where it was suggested that a new supervisor will be attracted through effective profiling ...

Read More arrow

ISY00243 Systems Analysis And Design

Download : 0 | Pages : 15

Answer: Activity 1 1. Part A: Initial Investigation YOU CAN FIT IN is a fitness centre company, which is located within the various cities of NSW and Victoria. The fitness centres have performed well in the past few years and they have even planned for an expansion within their business operations. With the expansion of their business, it has been planned by the management of the business to open a “Supercentre”. In the Supe...

Read More arrow

CMP71001 Cybersecurity

Download : 0 | Pages : 8

Answer: Introduction: This assignment will enlighten on the risk assessment of Southern Cross University. The common risks faced by the university in maintaining the information systems is discussed in the assignment. To manage risks, the university is using a password based authentication system so that the access to the university’s information system can be restricted and controlled. However, the BYOD (Bring Your Own Device) policy i...

Read More arrow

SENG6350 Systems Analysis And Design

Download : 0 | Pages : 10

Answer: Introduction: The information systems is the collection of technical devices, communication medium and human resources that is implemented organization wide. The information system has the capability of connecting all the aspects of an organization such as the departments and customers. The usage of the cloud environment has been increased in the last few years due to increase in remote access demand. The cloud solutions are more agil...

Read More arrow

SO245 Social Impact Of Technology

Download : 0 | Pages : 3

Answer: Many of the anthropologists, sociologists, intellectuals and the scholars have developed their own way of approach to the understanding of the nature of the technical progresses. In this essay we will discuss about three different perspective on the topic of technological evaluation. For discussing the technological evaluation perspectives the chosen authors are the Gerhard Lenski, Leslie White and Alvin Toffler. All the three perspect...

Read More arrow
Next

Save Time & improve Grade

Just share requirement and get customized Solution.

watch
question
We will use e-mail only for:

arrow Communication regarding your orders

arrow To send you invoices, and other billing info

arrow To provide you with information of offers and other benefits

Add File

Error goes here

1,655,493

Orders

4.9/5

Overall Rating

5,121

Experts

Our Amazing Features

delivery

On Time Delivery

Our writers make sure that all orders are submitted, prior to the deadline.

work

Plagiarism Free Work

Using reliable plagiarism detection software, Turnitin.com.We only provide customized 100 percent original papers.

time

24 X 7 Live Help

Feel free to contact our assignment writing services any time via phone, email or live chat. If you are unable to calculate word count online, ask our customer executives.

subject

Services For All Subjects

Our writers can provide you professional writing assistance on any subject at any level.

price

Best Price Guarantee

Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.

Our Experts

Assignment writing guide
student rating student rating student rating student rating student rating 4/5

248 Order Completed

100% Response Time

Lloyd Bernabe

MSc in Accounting

London, United Kingdom

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 4/5

3076 Order Completed

99% Response Time

Emily Wei

Doctor of Philosophy (Ph.D) in Civil Engineering

Singapore, Singapore

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

134 Order Completed

95% Response Time

Thomas Nelson

MS in Information Systems Technology with Specialization in Database Administration

New Jersey, United States

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

453 Order Completed

98% Response Time

Howard Asuncion

LLM in Criminal Law

London, United Kingdom

Hire Me

FREE Tools

plagiarism

Plagiarism Checker

Get all your documents checked for plagiarism or duplicacy with us.

essay

Essay Typer

Get different kinds of essays typed in minutes with clicks.

edit

GPA Calculator

Calculate your semester grades and cumulative GPa with our GPA Calculator.

referencing

Chemical Equation Balancer

Balance any chemical equation in minutes just by entering the formula.

calculator

Word Counter & Page Calculator

Calculate the number of words and number of pages of all your academic documents.

Refer Just 5 Friends to Earn More than $2000

Check your estimated earning as per your ability

1

1

1

Your Approx Earning

Live Review

Our Mission Client Satisfaction

Commendable work by the expert and the team, i was really worried about my online test, but it was really nicely and timely done by the professional expert of my assignment help, I\'m really thankful and hoping for coming again in the future.

flag

User Id: 288269 - 20 Apr 2021

Australia

student rating student rating student rating student rating student rating

Again a great work by my assignment help, i always come here for my assignment work, they are the best and the most trusted company I have ever encountered, so thanks heaps for your help.

flag

User Id: 288269 - 20 Apr 2021

Australia

student rating student rating student rating student rating student rating

Awesome work by the expert, was really happy with my results as well, was perfectly done as i wanted it to be, thanks again for a great help.

flag

User Id: 288269 - 20 Apr 2021

Australia

student rating student rating student rating student rating student rating

Assignemnt was good. And really helpful that they could do it in last minute. Thanks a lot to the company

flag

User Id: 497881 - 20 Apr 2021

Australia

student rating student rating student rating student rating student rating

Order on the go!

Say hello to our new app

callback request mobile
Have any Query?