ASA 701 & its Relationship with Audit Report

Added on - 28 May 2020

  • 9

    pages

  • 2826

    words

  • 3

    views

  • 0

    downloads

Showing pages 1 to 3 of 9 pages
AUDITING
Ansell LtdExecutive SummaryThere have been glaring examples of corporate failures in the past that has to lead to immenselosses for the investors and eroded the wealth. Some of the scams were so prominent thattheir examples are still recalled. The downfall of ABC, HIH, Satyam scam, Lehman Brothersdisturbed the corporate world. The failures generated on account of management failure andfailure on account of the auditors. Moreover, it highlighted the shortfall in the corporategovernance procedure. The present study revolves around the company name Ancell Limited.ASA 701 came into existence as a result of the financial crisis. This standard was a hugelandmark as it provides benefits to the shareholder and knows the company in which theydesire to invest. The report commences with the introduction of the company followed by thediscussion on ASA 315 and its connection with the audit report.2
Ansell LtdContentsIntroduction...........................................................................................................................................3ASA 701 & its relationship with audit report.........................................................................................3ASA 315 & its relationship with audit report.........................................................................................3Important points that were of major importance while conducting the audit and that could havebeen disclosed by the auditors in the auditor report as Key Audit Matters:.........................................4Recommendation..................................................................................................................................6Conclusion.............................................................................................................................................7References.............................................................................................................................................83
desklib-logo
You’re reading a preview
card-image

To View Complete Document

Become a Desklib Library Member.
Subscribe to our plans

Unlock This Document