Auditing and Assurance

Running head: Auditing and Assurance
Auditing and Assurance
Name of the Student
Name of the University
Author Note

1Auditing and Assurance
Executive Summary
The report includes about the auditing process of the company. It shows how the company is
been benefits by getting its financial statement audited and also it helps them to get the
confident of the financial user to invest their money in the company. The report also include
about the company name JB HI-FI. It is an Australian company, which is an retail business
and deal in consumers good. The report shows about the analytical review of the company
and how the auditor carries its audit procedure in the company business. It also include the
corporate governance report of the company and how they perform their activity related to it.
It also show the audit committee of the company and how they help the company and the
auditor as a whole in regards with the company business.

2Auditing and Assurance
Table of Contents
Introduction................................................................................................................................3
Discussion..................................................................................................................................3
Overview of the Company.....................................................................................................3
Analytical Review of the Company.......................................................................................4
Corporate Governance in Company Annual Report..............................................................6
Audit Committee in Annual Report.......................................................................................6
Benefits of the Audit Committee...........................................................................................7
Conclusion..................................................................................................................................7
Reference....................................................................................................................................9
Appendix..................................................................................................................................11

3Auditing and Assurance
Introduction
The process of checking whether the financial statement are showing true and fair
view or not is termed as auditing (Alzeban and Gwilliam 2014). Auditing is been carried by
the external person termed as auditor and it is the one who check the financial books of the
company and say that the statement are been made in accordance of the accounting standard
or not (Arena and Jeppesen 2016). The auditor check all the accounting books of the
company so that it able to know that the company have maintained all the related entry and
double book-keeping is been maintained by the company. The audited balance sheet also
helps the financial and economic user so that the they can know about the company financial
position and performance and thus can make their decision accordingly. It let them know all
the details about the company and what are the concern which are there in the company and
how the auditor have address those area in the audit report (Armstrong et al.,2015). Auditor
carry many different types of process in the company as this help it to know and assesses the
risk of the business and also it able to judge whether the company have any fraud in the
business or not. It also check the materiality and going concern related to the company
financial books as it help it to give a better opinion about the financial reports of the
company.
Discussion
Overview of the Company
The report is been based upon the company JB HI-FI. It is an Australian company and
the product in which it deals is consumer goods. It is a retail business and carry its business in
the area of New Zealand and Australia. The company was founded in 1974 by John Barbuto.
Company have it headquarter in Melbourne, Australia.