Jumbo Interactive Limited Case Study - Accounting and Finance Assignment Help

Assignment Task:

For the purpose of the assignment, you assume the role of an auditor and your firm has recently been appointed as external auditor of an entity. As required by Auditing Standard ASA300, you are assisting your Audit Manager in preparing an audit plan for the audit of the entity’s financial statements.

 You are required to download the 2019 annual report of Jumbo Interactive Limited

 Using information in the company annual report and other relevant information, preparing a report for your Audit Manager. The report should include the followings:

1. Introduction (4 marks)

2. A summary of the client's operations (10 marks)

3. Five (5) accounts you consider most at risk of being materially misstated (10 marks)

4. Assess the audit risk for each of the five (5) accounts selected (10 marks)

5. Conclusion (4 marks)

6. Appendix/references (2 marks)

Useful information

The following additional information is useful for the purpose of the assignment:

1. The summary of the client's operations should include: brief information on their financial position and performance for the year, applicable financial reporting framework, industry in which the client operates and economy wide factors affecting the client.

2. Use analytical procedure - simple comparison to identify accounts most at risk of being materially misstated. In general, accounts with significant movement in the balance between two financial years are most at risk.

3. Use the audit risk model to assess the audit risk of the selected accounts. The audit risk model: AR = IR x CR x DR where AR = audit risk; IR = inherent risk; CR = control risk; and DR = detection risk. Generally, where IR and CR have been assessed as high, auditor must reduce DR to a low level in order to reduce AR to a low level. 

This Accounting and Finance Assignment has been solved by our Accounting and Finance Experts at My Uni Paper. Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+ Students in Australia, UK & US by helping them to score HD in their academics. Our Experts are well trained to follow all marking rubrics & referencing style.

Be it a used or new solution, the quality of the work submitted by our assignment experts remains unhampered. You may continue to expect the same or even better quality with the used and new assignment solution files respectively. There’s one thing to be noticed that you could choose one between the two and acquire an HD either way. You could choose a new assignment solution file to get yourself an exclusive, plagiarism (with free Turnitin file), expert quality assignment or order an old solution file that was considered worthy of the highest distinction.