Cochlear Limited Annual Report 2019
“For close to 40 years, Cochlear has been the global leader in implantable hearing solutions. Cochlear commenced operations in 1981 as part of the Nucleus group and in 1995, listed on the Australian Securities Exchange. Today, Cochlear is a Top 50 listed Australian company with a market capitalisation of over A$10 billion.”
(Financial report 2019, p. 6)
Question: Assessment of control environment (9 marks)
Assess the likelihood of the potential reliance that could be placed on the overall control environment. Justify your decision with specific reference to Cochlear’s corporate governance arrangements
LINKED LEARNING OUTCOMES
2. Analyse case-based scenarios including identification and evaluation of risk factors and their implications for audit planning and evidence gathering activities
3. Design audit strategies within the context of appropriate, sufficient and relevant evidence, and design appropriate audit procedures (including test of control
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