Audit and Ethics

Running head: Audit and Ethics
Audit and Ethics
Name of the Student
Name of the University
Author Note

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Audit and Ethics
Executive Summary
The report is based upon the audit and ethics of the company. It show both plays an important
role in the company and how it help the financial user to take decision regarding the company
financial position. The report also include about the company name Downer Edi Limited. it
consists of the audit procedure which should be taken by the auditor in respect of the
company. Lastly the report concludes about the materiality that can be there in the financial
statement of the company. It also contains the analytical review of the company and even
have the analysis of cash flow of the company.

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Audit and Ethics
Table of Contents
Introduction................................................................................................................................3
Discussion..................................................................................................................................3
Overview of the company......................................................................................................3
Materiality in Financial Reporting.........................................................................................4
Analytical review of the company.........................................................................................5
Analysis of the Cash Flow of the Company...........................................................................8
Auditor opinion in the annual report......................................................................................9
Conclusion................................................................................................................................10
References................................................................................................................................11

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Audit and Ethics
Introduction
Audit is the process from which auditors inspect the financial book of the company
and give its opinion that whether the financial statement is showing true and fair view or not.
As this the financial user to know the real value of the firm and also help them to take a
correct decision regarding the investment in the company, as if the company financial
statement have any material misstatement than it can turn a loss to the financial user as their
will be a loss of the money so auditor help them to invest properly as audit check every single
details of the company so that it can able to give a proper report (Badolato, Donelson & Ege
2014). Audited financial statement helps the company to get the confidence of the public and
help them to get more amount of investment from the users. In this process the auditor make
a test of control so that it can able to check each area of the company performs may be
internally or externally (Bertrand 2018). These help the auditor to get a better overview of the
company and help it to get the details of any fraud or misstatement in the financial statement
of the company.
Ethics are the required standard which an individual should maintain in its
professional working environment as these help it to get a better professional in the corporate
area. Each organization has some kind of rule and norms which should be followed by all the
professional working in the organization (Brecher 2014). These help the organization to get
their work flow smoothly as if the entire professional is working in the proper manner than
this help the company to get business goals and objective easily and effectively.
Discussion
Overview of the company
The report is been based upon the company name Downer Edi Limited. It is an
Australian based company and provides integrated services in New Zealand and Australia. It