The report shows the auditing procedure that is carried by the auditor upon different entity report. It deals with a company name Probiotec which an Australian based company. It shows the different account that can have material misstatement and also show the planning materiality which is being calculated by the auditor in the initial stage of audit process. Lastly, it states the risk that has been associated with different account and the procedure which is carried upon the account and based on which auditor gives its opinion upon the same.