This document discusses the audit procedures adopted by the auditors for dealing with Key Audit Matters in three companies, namely AMP, Bank of Queensland, and Commonwealth Bank. It also highlights the changes in KAMs and the negligence of auditors. The document further explains the importance of KAMs for the users of financial statements and the role of the Banking Royal Commission in suggesting measures for the banking industry. Lastly, it emphasizes the responsibility of auditors and regulators in setting up performance procedures and implementing regulations in the banking sector.

Annual Report 2018

Review the audit reports for 2017 and 2018 for three ASX companies (AMP, Commonwealth Bank and Bank of Queensland) and analyze the changes in Key Audit Matters (KAM's) and the differences in KAM descriptions between audits conducted by Ernst & Young, PWC, and KPMG. Also, consider the impact of the findings of the Haynes Royal Commission into Financial Services on the future audit reports for these companies.

Read about the audit procedures adopted by the auditors for dealing with Key Audit Matters in three companies. Also, learn about the changes in KAMs and the negligence of auditors.

Audit Procedures for Key Audit Matters in Three Companies | Desklib

Audit Procedures for Key Audit Matters in Three Companies

This paper is an independent audit report, which evaluates the financial statements of the Commonwealth Bank among the inclusion of other ASX-listed companies such as AMP, ANZ, Bank of Queensland, Westpac and National Australia Bank. In this evaluation, key audit matters will be analysed considering the Auditing Standard (ASA 701) that denotes the relevant key audit matters in an independent auditor’s report.

Political Science

Analysing and Evaluating Key Audit Matters in Independent Auditor’s Report – Commonwealth Organization

This article discusses the key audit matters in an independent auditor's report, including the rationale and evaluation of these matters. It focuses on the financial position of the Westpac Bank in the banking industry and compares it with other companies. The article also explains the new auditing standard ASA 701 and its implications. The key audit matters addressed include the accuracy of liabilities according to the Australian banknote and the valuation of foreign currencies and Australian dollar investments.

Key Audit Matters in Independent Auditor's Report

Research Methods

Newcastle University

Finance

Accounting Theory and Current Issue | Assignment

Auditing Theory and Practice

This paper discusses the key events in the auditing of BHP Group for the year ended 30 September 2018, including onshore US assets and liabilities, Samarco, taxation risk, and asset valuation. It also analyzes adherence to IFRS and Australian accounting standards.

University of South Australia

Key Events in the Auditing of BHP Group

This article discusses the key events that can affect the financial statements of AMP Ltd, including foreign exchange fluctuations, valuation of goodwill and intangible assets, investment in companies in China and Japan, and contingent liability. It also provides evidence mix and AAR for each event.

This article discusses audit assertions, key assertions at risk, substantive audit procedures, and key audit matters related to valuation and rights and obligations. It also explains the disclosure requirements as per ASA 701.

Audit Procedures for Key Audit Matters in Three Companies

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Key Audit Matters in Independent Auditor's Reportlg...

Accounting Theory and Current Issue | Assignmentlg...

Key Events in the Auditing of BHP Grouplg...

Auditing Theory and Practicelg...

Audit Assertions, Key Assertions at Risk, Substantive Audit Procedures, and Key Audit Matterslg...

Analysing and Evaluating Key Audit Matters in Independent Auditor’s Report – Commonwealth Organization

Key Audit Matters in Independent Auditor's Report

Accounting Theory and Current Issue | Assignment

Key Events in the Auditing of BHP Group

Auditing Theory and Practice

Audit Assertions, Key Assertions at Risk, Substantive Audit Procedures, and Key Audit Matters