Inherent risks that you would have considered for company

Reference no: EM131189672 , Length: word count:1000

Qantas Ltd - 30 June 2015

https://www.qantas.com.au/infodetail/about/investors/2015AnnualReport.pdf

Questions-

Assume that your audit team is responsible for planning the audits for Qantas Ltd for the year ended 30 June 2015. Discuss your strategies in relation to the questions noted below -

1. (A) Identify at least three (3) inherent risks that you would have considered for the company in the audit planning phase and justify your answer.

(B) What audit procedures and/or tasks would you have planned to carry out in response to the inherent risks identified by you in (A) above? See the required format for your answers below

2. In relation to corporate governance research and justify your answer to the following questions-

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

(B) Does the company have an audit committee and does the audit committee have the correct composition?

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

You will have to go to the link given in the uploaded photo of the question and access the quantas 2015 annual report and answer the questions Q1 - (A) and (B), Q4 - (A).

Reference no: EM131189672

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