Assessment 3: A practical audit scenario

Assessment 3: A practical audit scenario
ACC302
AUDITING & ASSURANCE

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Contents
Introduction........................................................................................................... 2
Analytical and Financial Analysis...........................................................................3
Significant Areas to Focus...................................................................................... 4
Audit procedures to be performed.........................................................................4
Corporate Governance........................................................................................... 5
Audit Committee.................................................................................................... 6
Importance of an Audit Committee........................................................................6
References............................................................................................................. 7

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Introduction
This assignment made based on a detailed analysis and review of historical
financial statements of a company (Harvey Norman).it involves procedures that
are performed on analytical basis on the financials on the company along with
analysis for the same, a detailed explanation is provided that significantly affects
the accounting and audit procedures. In addition, a review of corporate
governance regarding its existence, impact estimated and analysis provided
according to the report of the group (Arnott, et al., 2017). Audit committee of the
company taken into consideration to check the condition of its existence and its
composition in details including a detailed discussion on the importance of audit
committee to the auditor and the stakeholders at large. A brief conclusion was
made regarding the audit committee and corporate governance of the company
based on which its effectiveness and efficiency can be understood.
Referencing been made to the company’s annual report and its audit report
based on which the assignment was made possible.