Audit and Assurance

Running head: AUDIT AND ASSURANCE
Audit and Assurance
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1AUDIT AND ASSURANCE
Table of Contents
Introduction:...............................................................................................................................2
Discussion:.................................................................................................................................3
Task – 1 Planning, Analyzing and Risk Management...............................................................3
Task 2 – Internal Control...........................................................................................................7
Answer to question.................................................................................................................7
Account balance assertion for raw material inventory:..........................................................9
Task 3 – Controls and Test of Control.....................................................................................10
Conclusion................................................................................................................................13

2AUDIT AND ASSURANCE
Introduction:
The aim of the assignment deals with the Dalby Logistics Limited (DLL) and the
performance of the Sweets R Us Pty Ltd. The auditing system and the financial statement of
the companies have been analyzed in a detailed manner. The internal control and the risk of
the company have been ascertained in the conducted study along with the ratios and further
trend analysis have also been depicted in the conducted study.

3AUDIT AND ASSURANCE
Discussion:
Task – 1 Planning, Analyzing and Risk Management
Answer to Question 1
Dalby Logistics Limited (DLL) is such an industry which deals with bulk cargo and
Logistics Corporation, founded in the year 2010 through the merger of two companies. One
of the company was involved with the transport of iron ore, mineral sands and forestry
products. The examples of the products which are transported by DLL is that Grain
(agricultural products), oil and gas, coal, manganese, and lithium and many more. The
services which are provided by DLL is that warehousing services and are currently building a
large ‘hub’ complex in Sydney. After the completion of this project, this facility will be
leased to several exporters and importers across the world. DLL has over 20 subsidiary
companies and substantial investment in five other companies for enhancing the growth of
the business in such circumstances (Cohen, & Simnett, 2014).
DLL has one of the largest associate is Pilkington Ports Limited which further gives
DLL entrance to 4 ports across Australia. This access further helped the company to enhance
the trading and supply of goods and services all over the world. The company have also some
of the major arrangements access to further 15 ports across Australia (including Darwin),