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What criteria are used in this financial report audit

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Reference no: EM131910805

Individual Assignment

Find an example of a 2017 annual report issued by a company listed in ASX. You can refer to the ASX website Australia to search for a listed company. Based on your chosen example, answer the following questions.

Required

1. Explain the difference between the (1) auditor's responsibility and (2) management's responsibility for this financial report being audited.

2. An assurance engagement involves evaluation or measurement of subject matter against criteria. What criteria are used in this financial report audit?

3. What type of audit opinion is being issued - unmodified, qualified, adverse or disclaimer? Explain your answer with reference to relevant auditing standards.

4. Refer to the disclosures explaining the amounts paid to the auditor. How much was the auditor paid for the audit and non-audit, or other, services? Explain arguments for and against the provision of non-audit service for enhancing audit quality.

5. Which two types of non-audit services would you advise the auditor to avoid providing to the company? Explain your answer with reference to the Code of Ethics for Professional Accountants.

Note

1) You need to include a copy of the audit report as an appendix.

2) You also need to include in the references the website of your chosen company where you download the annual report.

Verified Expert

This assignment is complete in 800 words in which we have explained audit and assurance services question 1. difference between auditor's responsibility and management responsibility for this financial report. Question 2. involves evaluation or measurement subject matter against criteria. Question 3. type of audit opinion such as unmodified, qualified, adverse and disclaimer. Question 4. explain the amount paid of the auditors? how many auditors paid audit and nonaudit or other services. Question 5. types of non audit services? explain the references ethics for professional accounts and references.

Reference no: EM131910805

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Reviews

len1910805

3/22/2018 3:24:50 AM

Individual Assignment A - Assessment Marking Criteria Requirement Content Marks Question 1 Auditor’s responsibility 2 Question 2 Assurance engagement 1 Question 3 Auditor opinion 2 Question 4 Non-audit service 3 Question 5 Professional ethics 2 Presentation, clarity, and Deduct up to 2 referencing

len1910805

3/22/2018 3:24:45 AM

The accuracy and correctness of your answer or analysis for each of the questions will be the primary criteria for grade differentials in this assignment. Please refer to the marking criteria below. Each of the individual assignment will be marked out of 10 marks (weighting 5% to total assessment mark). This assignment must be submitted in person in a hard copy and through Turnitin by 5.00pm on the due date. The maximum word count is 1000 words for each individual assignment. You will find in most of the individual assignment that LESS than 1000 words is sufficient.

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