Audit and Assurance

Running head: AUDIT AND ASSURANCE
Audit and Assurance
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1AUDIT AND ASSURANCE
Table of Contents
Introduction................................................................................................................................3
Discussion..................................................................................................................................4
Part A.....................................................................................................................................4
Materiality..........................................................................................................................4
Part B......................................................................................................................................5
Analytical Procedure..........................................................................................................5
Part C......................................................................................................................................7
Remuneration.....................................................................................................................7
Compensation.....................................................................................................................8
Reference..................................................................................................................................10
Appendix:.................................................................................................................................11

2AUDIT AND ASSURANCE
Executive Summary:
The report is divided into three parts. The first and the second part is based on the case study
of Cloud 9 Pty. Ltd. The report is commenced on the audit planning for the audit firm W&S
Partners. The report gives the calculation of overall materiality including stating the reason
for it. In the second part analytical procedure is described. Lastly, the report is concluded on
the remuneration structure of the listed companies. For this three companies that are listed in
the ASX exchange are Wesfarmers, Woolworth and Caltex ltd are from retail industry.

3AUDIT AND ASSURANCE
Introduction
Auditing is the process or quality procedure to inspect or examinee in order to ensure
that the company has met the compliance requirement. To provide fair and true view opinion
auditor shall inspect the records of accounts, sales invoice any other statutory requirements
that has to be met by the company. Auditing is conducted by the independent auditor or team
of auditor those are qualified as chartered accountant. To put down his or her opinion on
verification of inspection of done on the basis of books of accounts and the monetary
statement auditor authentically check the support documents very well.