Auditing concepts and auditing methods

Reference no: EM133137974

ACC6030 Auditing and Assurance Services

Case study

The Chief Audit Officer of Australian Stock Exchange (ASX) has appointed you to investigate and report on the "True and Fair" status of the audited financial statements of a high-profile international company. For that purpose, you need to critically examine the Auditors' opinion in the "Independent Audit report" and importantly focussing on their "Key Audit Matters", available in the company's latest Annual Report.

Company - DEXUS LTD (DXS) (Australia)

Required

You need to use risk-based auditing approach, auditing concepts and auditing methods learnt in this unit to conduct this investigation and report on the major issues reported, particularly in the Key Audit Matters by the Auditor, such as:

• Leases
• Inventory
• Valuations
• Capital assets
• Financial instruments
• Estimations
• Leases
• Goodwill
• Going concern
• Internal control
• Corporate governance
• Business risks
• Corporate strategy
• Risk management systems

The above list is illustrative only and your case study report is NOT required to address all the above-mentioned topics. You can include other topics of this unit, as related to the company assigned to you for investigation and then derive your conclusions and recommendations.

For this purpose, you need to use Australian Auditing standards and case laws and other information which you have learnt in this unit, such as:
• ASA 315 - Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment
• ASA 320 - Materiality in Planning and Performing an Audit

• ASA 330 - The Auditor's Responses to Assessed Risks
• ASA 560 - Subsequent Events
• ASA 570 - Going Concern
• ASA 700 - Forming an Opinion and Reporting on a Financial Report
• ASA 705 - Modifications to the Opinion in the Independent Auditor's Report
• ASA 706 - Emphasis of Matter Paragraph and Other Matter Paragraphs in the Independent
Auditor's Report
• APES 110-Code of Ethics for Professional Accountants

Attachment:- Auditing and Assurance Services.rar

Reference no: EM133137974

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