Auditing and Assurance

Running head: Auditing and Assurance
Auditing and Assurance
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1Auditing and Assurance
Executive Summary
The report includes about the process of auditing in the company. It also discuss about the
Lehman Brother case and how the introduction of ASA 701 come in the accounting standard.
It also include about important and details of the ASA 701. It also consists of the key audit
matters of the company in the utility industry and how the auditor has tackled the situation.

2Auditing and Assurance
Table of Contents
Introduction................................................................................................................................4
ASA 570 Going Concern...........................................................................................................5
ASA 701: Rationales..................................................................................................................5
ASA 701: Explanation...............................................................................................................7
Key Auditing Matter of the Company.......................................................................................7
Spark Infrastructure Stapled Ltd............................................................................................7
AGL Energy Ltd:...................................................................................................................8
Ausnet Services Ltd:..............................................................................................................9
APA Group:.........................................................................................................................10
Conclusion and recommendations...........................................................................................10
Reference..................................................................................................................................12

3Auditing and Assurance