$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 Download13 Pages / 3,120 Words tag Add in library Click this icon and make it bookmark in your library to refer it later. GOT IT

Question

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.”

<Note> Refer to the links below and listen to the podcast before you commence the assignment.

http://directory.libsyn.com/episode/index/id/4886297

www.cpaaustralia.com.au/professional-resources/audit-and-assurance/auditor- reporting

http://www.auasb.gov.au/Publications/Auditor-Reporting-FAQs.aspx

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
  • 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
  • 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 13 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/valuation-of-assets.html.

My Assignment Help (2021) Audit Assurance And Compliance [Online]. Available from: https://myassignmenthelp.com/free-samples/hi6026-audit-assurance-and-compliance/valuation-of-assets.html
[Accessed 21 April 2021].

My Assignment Help. 'Audit Assurance And Compliance' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/hi6026-audit-assurance-and-compliance/valuation-of-assets.html> accessed 21 April 2021.

My Assignment Help. Audit Assurance And Compliance [Internet]. My Assignment Help. 2021 [cited 21 April 2021]. Available from: https://myassignmenthelp.com/free-samples/hi6026-audit-assurance-and-compliance/valuation-of-assets.html.


Witness a major boost in your academic grades with the assignment help services from MyAssignmenthelp.com. Our website has been the most trusted writing service provider for students in Aus for a prolonged time. Hence, our assignment assistance will definitely help you achieve the grades you desire. You only need to share your specific assignment requirements, and you'll receive accurate solutions without going through any hassles.

Latest Audit Samples

HI6026 Audit Assurance And Compliance

Download : 0 | Pages : 9

Answer: The purpose of the project is to review and analyse the impact of the new provisions of Enhanced Auditor Reporting that has been commenced in the year 2016. The auditors are now required to fulfill additional requirements to bring about greater transparency in the reporting system. This will be achieved by evaluating the annual report of a company, which also contains auditor’s report. The purpose of imposing these standards is t...

Read More arrow

ACCT6006 Auditing

Download : 0 | Pages : 10

Answer: The present study is related to the Dick Smith Electronic Ltd, which was collapsed in the year 2016. In this study, the history of the company along with the reason for shutting down is evaluated. There are some factors which give an indication about the going concern capability of the organization are also stated. This study also provides the analysis about evidence which leads to the doubt on the going concern of the company based on...

Read More arrow

ACCT 408 Auditing

Download : 0 | Pages : 3

Answers: 1.Audit logs in IT security are the data in which the computer stores them so that in case of any security issue in the information system, these logs can be referenced. The information which are contained in the logs are files pertaining all the transactions being undertaken in the computer system. This logs can be attempts such as login success or failure or files access failure or success. They are able to show the threats which ar...

Read More arrow

MAA303 Auditing And Assurance

Download : 0 | Pages : 4

Answer: Answer to case A: When it is noticed that the total fees from the audit client constitute a large portion of the total fees of the firm stating their audit opinion, the reliance on that client and concerns relating to losing the client results in self-interest or intimidation threat. The significance relating to such threat should be assessed and safeguarded when it becomes necessary to eliminate the threat at the acceptable level (Ha...

Read More arrow

AC3557 Auditing

Download : 0 | Pages : 10

Answer: 1. Research the history of audit exemption in the European Union and discuss the changes in audit exemption thresholds in the United Kingdom. As per the resolution passed by the European Parliament in June 2013, broadly entities apart from public interest entities (which is basically those entities whose securities are widely traded in the stock market, lending institutions, insurance providers and any other entity which has been spe...

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

1,657,348

Orders

4.9/5

Overall Rating

5,122

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 5/5

1265 Order Completed

97% Response Time

James Cook

Masters in Management

Wellington, New Zealand

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

647 Order Completed

98% Response Time

Adlina Han

Masters in Marketing with Specialization in Branding

Singapore, Singapore

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

755 Order Completed

95% Response Time

Douglas Cowley

Masters in Finance with Specialization in Audit

Wellington, New Zealand

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

203 Order Completed

97% Response Time

Richard Alpert

PhD in Psychology

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

Amazing support and great work from the expert! Again thank you guys so much for all the help!

flag

User Id: 673036 - 21 Apr 2021

Australia

student rating student rating student rating student rating student rating

well prepared project. got some minor editing and got the full marks. will use it again .

flag

User Id: 610828 - 21 Apr 2021

Australia

student rating student rating student rating student rating student rating

good job and consider the need the of the assignment .good job and consider the need the of the assignment .good job and consider the need the of the assignment .good job and consider the need the of the assignment .good job and consider the need the...

flag

User Id: 618488 - 21 Apr 2021

Australia

student rating student rating student rating student rating student rating

received 72 marks this is first assignment which i have received above 70 i have given so many assignment after this i received a good marks. but expected is 75 above as i had paid too much money.

flag

User Id: 431633 - 21 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?