Conduct an analytical review on the financial statements

Reference no: EM132317143

Auditing and Assurance Assignment -

Learning Outcome:

1. Explain the role of the auditor, the audit function and the scope of assurance services.

2. Explain auditing and assurance services in the context of the professional, ethical and legal environment of an audit.

3. Apply the different phases of the audit to practical scenarios.

Required: Answer the questions below, in a maximum of 1,500 words.

PART A - You will be assigned with the audit of one of the three companies listed on the ASX:JB HI FI Limited and for the year ended 30 June 2018.

Review the audited annual reports including financial statements presented to the shareholders for your respective company and answer the questions.

The company selected this Case Study Task is JBHiFi.

1) Conduct an analytical review on the financial statements of your respective company in the planning phase and identify areas of concern and how relevant accounts and assertions are impacted. Justify your answer. All calculations should be included as an appendix to the written report.

2) You are now required to formulate the relevant audit procedures to respond to the areas of concern identified in Part (1).

PART B - In relation to corporate governance research and justify your answer to the following questions:

1) Does your respective company have any process relating to corporate governance? Under which section of the annual report would you expect to find information on it?

2) Does your respective company have an audit committee and does the audit committee have the correct composition?

3) In your opinion, are audit committees of benefit to the auditor, the company, the auditing profession and/or society as a whole? Why or why not?

Attachment:- Assignment Files.rar

Reference no: EM132317143

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Reviews

len2317143

6/5/2019 10:22:32 PM

The company selected this Case Study Task 1 is JBHiFi. The marking rubric is included in the Cast Study Two Attachment. I've also attached the weekly lecture notes for this unit relating to this assignment. I have also attached two spreadsheets that have been provided as part of the weekly unit details that may be useful for this assignment.

len2317143

6/5/2019 10:22:25 PM

Assessment Description Required: All questions must be attempted. Please make sure you follow the usual assignment presentation guidelines especially those relating to presentation of written work, late policy and academic integrity. Submission: The assignment will need to be submitted electronically - use the link under "Assessments" to submit the information. Instructions on the Assignment: Referencing: As you will be using a company's Annual Report as the basis for answering many of the questions asked in this assignment, you need to ensure that you acknowledge this in your assignment.

len2317143

6/5/2019 10:22:20 PM

In-Text Referencing and the Reference List: Sources of information must be cited both in the body of the text (in-text referencing) and the end of the assignment (reference list). Failure to do so will result in penalties. Remember that when referencing an Annual Report, it is a corporate document that does not have a particular author but it will still require referencing any time you use information from it. Any other documents or books or other references you use will also require referencing. Penalties Regarding Referencing: No in-text referencing - deduct 2 marks, Some in text referencing only - deduct 1 mark, No reference list - deduct 2 marks and Incomplete reference list - deduct 1 mark.

len2317143

6/5/2019 10:22:13 PM

Submissions that exceed the word count by more than 10% will cease to be marked from the point at which that limit is exceeded. Note that marks are also allocated for professional presentation, grammar and spelling. Please make sure you follow the guidelines noted in your subject outline especially those relating to presentation, late policy and academic integrity.

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