Audit, Assurance and Compliance for JB Hi-Fi Limited

Audit, assurance and compliance
HOLMES INSTITUTE
Course ID: HI6026S
Prepared By:
Md Rabiul Alam
ID: WHZ2339
Prepared For:
Andre Houang
Lecturer, Sydney Campus

1AUDIT, ASSURANCE AND COMPLIANCE
Table of Contents
Part 1..........................................................................................................................................2
Executive summary....................................................................................................................2
Part 2 – ASX CGS Principles.....................................................................................................3
Part 3..........................................................................................................................................6
Risk assessment..........................................................................................................................6
Reference....................................................................................................................................9

2AUDIT, ASSURANCE AND COMPLIANCE
Part 1
Executive summary
The main objective of the report is to focus on the compliance of ASX Corporate
Governance principles by JB Hi-Fi Limited. The report will explain whether all the
requirements under the ASX CGS principles are complied with by the company or not.
Thereafter, the report will assess the risk associated with the company through various
measures like the company’s ratio analysis, trend analysis and market overview.

3AUDIT, ASSURANCE AND COMPLIANCE
Part 2 – ASX CGS Principles
1. Foundations for management and oversight
The responsibilities of the board of JB Hi-Fi includes looking into the matter of
company’s affairs and businesses, setting up the financial and strategic objectives and
looking into the implementation of management to fulfil these objectives, monitoring
performances of the management, approving the adoption for major corporate policies of the
company (Council and Exchange 2014).
2. Board structure for adding value
The board perform the duties and responsibilities with regard to safeguard the
interests of the shareholders, customers, staffs and the community under which they operate.
It can empower and establish the board committees to help performing the functions. Further,
the board is also responsible for managing the affairs and business of the company. Further,
the board communicates with the shareholders whenever required (Lama and Anderson
2015). While performing the duties the board operates in such a way that reflects the values
of the company and complies with the Corporation act 2001 and various other applicable
regulations and laws. At present the board has 8 members in the board, out of which except
the CEO all other members are non-executive director.
3. Act responsibly and ethically
The board of JB Hi-Fi is committed towards assuring that the business of the
company is ethically conducted and as per high standard of the corporate governance.
Further, the board believes that if otherwise not disclosed under the statement of corporate
governance the practices and policies of the company shall comply with 3rd edition of ASX