Real Life Auditing Issues Case Study - Accounting and Finance Assignment Help

Assignment Task

Purpose: The individual research project requires students assessment of real-life auditing issues througl a case study that links auditing theory. audrt rg practice and auciting performance This assessment relates to learning outcomes a. b and c. 
 

Task details: The new aucibng standard ASA701 Communicating Key Audit Matters in the Independent Auditor's Report is developed in the wake of the global financial crisis. This development is in response to calls from shareholders to know more about the companies they invest in. Further. investors have also requested earlier warnings of potential issues that may exist with respect to an entity's ability to continue as a Going Concern which resulted in the revision of ASA 570 (ISA 570) Going Concern. 
 

Students are required to select and compare MO industries in the Australian ASX Top 100 listed corporation and assess the "areas of higher assessed nsk of material misstxement, or significant risks identified in accordance with ASA 31E". 'significant auditor judgements relating to areas in the financial report that involved significant management judgement" as well as the effect on the audit of significant events or transactions that occurred during the period" (Para ci ASA 7011. The summary report should include data extracted from the General-Purpose Financial Report relevant to the material analysed. 

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