Reference no: EM132309298
Auditing and Assurance - Assessment - A Practical Audit Scenario
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.
Article - JB HI FI
PART A
You will be assigned with the audit of one of the three companies listed on the ASX: Woolworths Group, JB HI FI Limited and Harvey Norman Holdings Limited 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:
Woolworths Group:
JB HI FI Limited:
Harvey Norman Holdings Limited:
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?
Assessment Description
Required:
Your lecturer will assign you one of the three companies listed above. This assignment is to be completed individually. All questions must be attempted. The assignment must be submitted before the above due date to avoid any late penalties. Please make sure you follow the usual assignment presentation guidelines especially those relating to presentation of written work, late policy and academic integrity.
|
The patient protection and affordable care act
: The Patient Protection and Affordable Care Act. Discuss the specifics of who will be eligible and who will be responsible for providing services.
|
|
With reference to relevant literature
: With reference to relevant literature, critically evaluate Levitt's view of global strategy ]
|
|
What was it about the second example that did not work
: What was it about the second example that did not work? Explain your answer.
|
|
Writing about freedom of information act
: Freedom of Information Act was first developed, the oldest in the world, in Sweden in 1766 and later signed into law by Lyndon Johnson, the president in 1966.
|
|
Explain auditing and assurance services
: ACC302 - Auditing and Assurance - Kaplan Business School - Assessment - A Practical Audit Scenario - Explain auditing and assurance services in the context
|
|
Discuss the companys procurement and supply chain analysis
: MGT5PSC PROCUREMENT AND SUPPLY CHAIN MANAGEMENT, La Trobe University, Australia: Discuss the company's procurement and supply chain analysis.
|
|
What labor markets should be considered for staffing
: What labor markets should be considered for staffing the chief surgeon for the local hospital? The response must be typed, single spaced, must be in times new.
|
|
What actions you take to increase retention of employees
: If you became the new manager at a restaurant with high employee turnover, what actions would you take to increase retention of employees?
|
|
Define what would you decide if rate of inflation negative
: Imagine that you just won a lottery jackpot of $100,000. If you expect inflation to accelerate, should you buy that home you've been thinking of now?
|