Report to the senior partners of your auditing firm

Assignment Help Accounting Basics

Reference no: EM131041155

You are required to prepare a preliminary client evaluation report to the senior partners of your auditing firm. This report will be used to determine whether or not the auditing firm should consider tendering for the audit of a well-known bank.

Client evaluation includes: identifying risks; assessing competence to perform an audit; and other ethical and legal considerations. Audit firms undertaking bank audits must also comply with a number of additional regulatory requirements.

Assuming that the audit for ANZ Bank (Australia and New Zealand Banking Group Limited) will be coming up for tender, you are required to prepare a report based on your research. This requires extensive research and critical analysis of the annual report and any other information available to present to the senior partners.

The ANZ Bank Annual Report 2015 is available at:https://www.shareholder.anz.com/sites/default/files/2015_annual_report.pdf In your report please identify and discuss the following:

1. The steps involved in client acceptance. Briefly describe the process in assessing a new client

2) The areas of concern.
a) Using the ANZ Bank 2015 Annual report (given above) identify and describe 8 accounting/auditing matters that may be of concern.
b) Explain why you have identified these particular matters.

3) The limitations of your report. Is there any other information you require but do not have access to?
Read these instructions carefully

Total word count excluding bibliography (references) should be at least 1100 words.
Please use size 12 font; 14 or 16 font may be used for headings only; double spacing between paragraphs and each page must be numbered.

Please use appropriate references for resources used such as accounting and auditing standards and guidelines; regulations; Corporations Act 2001 etc. The Harvard referencing style is preferred.

Reference no: EM131041155

Questions Cloud

Case-you are out of what : Markus Ned eagerly drove his new company pickup onto the construction site. His employer, Kelso Construction Company, had just assigned him to surprise a crew of 16 equipment operators, oilers, and mechanics. This was first unionized crew Marcus h..

Learn about the problems experienced by people : Watch the assigned videos and comment on bullying in the workplace. Learn about the problems experienced by people who are targeted and "mugged" by workplace bullies. Do some of your own research and share it with the class. Can you see why some p..

If the expansion occurs isothermally and reversibly : If the expansion occurs adiabatically and reversibly. Show the calculation of ?S such that you numerically prove its value

Advantage for possible acquisitions of tangible stock : This rights issue has enabled the Group to strengthen its financial structure, to position itself with advantage for possible acquisitions of tangible stock, and to grasp opportunities thrown up by the crisis (purchase of shipping containers, modu..

Report to the senior partners of your auditing firm : You are required to prepare a preliminary client evaluation report to the senior partners of your auditing firm. This report will be used to determine whether or not the auditing firm should consider tendering for the audit of a well-known bank.

Find three products advertised or sold over the internet : Find three products advertised or sold over the internet with Senior Citizen's discounts What are they, and how big are the discounts? Do the same products feature student discounts? If so, how large are they?

Democratic management style : As Malik, I would solve this problem by coming up with a democratic management style. This ensures that the employees contribute to the decision making within the organization and creating an environment whereby the employees are rewarded for thei..

Disputes are imposed by disinterested third parties : Which of these refers to the process through which generally binding resolutions of disputes are imposed by disinterested third parties, not the court? a) mediation, b) negotiation, c) dispute resolution policies, d) arbitration.

Balance of interest payable for the loan : On November 1, 2016, SassyCat Treat Co. borrows $30,000,000 at 9% to finance the holiday sales season. The note is for a six-month term and both principal and interest are payable at maturity. What is the balance of interest payable for the loan a..

User Account

All Pages