Highlights
AUDIT THEORY AND ASSURANCE
The following question has to be used to address the following assessment task: Rationale: The assessment task requires students to critically evaluate a company for the purpose of an audit. It gives students the opportunity to demonstrate their level of understanding of the concept of gaining an understanding of the client’s business and operations and highlighting factors which informs an auditor’s risk assessment process. Furthermore, it gives students the opportunity to apply a relevant corporate governance framework in evaluating the governance procedures of a firm. Additionally, the risk associated with key account of the client must be established
Instructions:
1. This assignment is compulsory and constitutes 30% of the marks for this subject.
2. The cover page of your report must have the names and ID of students.
3. The assignment must be in MS word format, double-spacing and 12-pt Times New Roman font.
4. Avoid academic misconduct: improper or no reference, plagiarism, copying and cheating.
5. Referencing style: Harvard Style (Link proper referencing - https://melbournepolytechnic.spydus.com/reference.html)
6. Word limit: 1200 words (+/- 10%)
7. The assignment report must be uploaded via Moodle by the due date.
8. Late penalties apply: 5% penalty for each day (or part day) late up to a maximum of 5 days.
Question
You have been appointed as the external auditor for Fisher & Paykel Healthcare Corporation Limited for the financial year end June 2020. As a member of the audit team for the audit of Fisher & Paykel Healthcare Corporation Limited, prepare a report to adequately address questions one and two below which are deemed to be important for the audit of this client.
1. What are the key business risks that are expected to define the operations of Fisher & Paykel Healthcare Corporation Limited?
2. Critically evaluate and examine key accounts which are likely to be materially at risk for misstatements (indicate the key assertions at risk as well) and provide some justifications for your claims.
Company of focus: Fisher & Paykel Healthcare Corporation Limited,
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