ACC3AUD Auditing and Assurance Assignment

Assignment Help Auditing

Reference no: EM132633211

ACC3AUD Auditing and Assurance - La Trobe University

Audit risk assessment and planning

You are a part of the team responsible for planning the A2B Australia Ltd (ASX code - A2B), a company providing personal transport solutions, audit engagement for 2020. You are required to gather relevant background information and prepare a report for a meeting with your audit seniors. Assume that this is the first time that the audit will be conducted by your audit firm for this client.

Your report must address the following issues:

Required:

(a) What are the areas in which A2B conducts its operations?

(b) Are there any events or conditions that may cast significant doubt on the A2B's ability to continue as a going concern? Explain. Your answer should be supported by at least three factors.

(c) Based on your risk analysis and understanding of A2B and its environment, list and explain three accounts that could be at risk of material misstatements. You also need to identify the key assertion at risk for each identified account.

(d) Identify an appropriate base and set planning materiality for A2B. Explain why you have chosen this base and the percentage you have used.

(e) Lately A2B acquired Gold Coast Cabs (fleet of approximately 400 taxis) to further advances its strategy of offering quality services on a national basis. How will this acquisition affect your 2020 audit plan for A2B? Your answer should be supported by at least four factors.

The answers for above questions should be reflective of your in-depth understanding of how the A2B operates. You should conduct extensive research and perform an analysis of the annual report of A2B for the year 2019 and any other relevant information that you have obtained. (Hint: company's financial results, financial press and other business media).

Attachment:- Auditing and Assurance.rar

Reference no: EM132633211

Questions Cloud

Find out variable cost per units for hasf glassworks : Find out variable cost per units and total fixed cost. HASF Glassworks makes glass flanges for scientific use Material cost Rs.10 per flange.

Calculate the break-even point for the year december : Calculate the break-even point for the year ending 31 December 2012 and the margin of safety expressed as a percentage of the original budgeted sales.

Describe at least five logical fallacies : You will apply ethical reasoning and recognize fallacies in ethical reasoning. Describe at least five logical fallacies;

How do submit a short report for bill addressing three areas : How do Submit a short report for Bill addressing these three areas. Bill Wilson, the financial accountant at Robson Ltd is considering implementing a standard

ACC3AUD Auditing and Assurance Assignment : ACC3AUD Auditing and Assurance Assignment Help and Solution, La Trobe University - Assessment Writing Service - What are the areas in which A2B conducts

The difficulties of writing policy : Explain how ambiguity helps promote policy making and how goal ambiguity makes policy design more difficult.

What was the period cost incurred for the month of december : What was the period cost incurred for the month of December? 20-Dec Depreciation for the month of December was recorded on equipment was $750

Explain what is an accounting based equity valuation model : Explain what is an accounting based equity valuation model. Determine the fundamental Price to Earnings (PE) ratio

Different risk assessment/risk management methodologies : Describe at least three different risk assessment/risk management methodologies, including their relevance to assessing risks related to critical infrastructure

User Account

All Pages