Audit: Financial Performance and Risk Management

Running head: AUDIT
Audit
Name of the student:
Name of the university:
Author

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Table of Contents
Introduction:...............................................................................................................................2
Discussion:.................................................................................................................................3
Task – a Planning, Analytics and Risk Management.................................................................3
Task b – Internal Control...........................................................................................................9
Answer to question.................................................................................................................9
Task c – Controls and Test of Control.....................................................................................13
Conclusion................................................................................................................................15

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Introduction:
The main focus of the assignment is the financial performance of DALBY
LOGISTICS LIMITED and Sweets R Us Pty Ltd. Both the company’s audit report has been
provided based on the financial performance which has been analyzed in a broader manner.
Top level management system and further the details of the risk management of the business
have been depicted in the conducted study. The evaluation of the main ratios along with the
evaluation of trend analysis has been displayed in this assignment. The responsibilities and
the risks undertaken by the business management of the company along with the rectification
of the material misstatement and error have been discussed in this assignment in a detailed
manner.

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Discussion:
Task – a Planning, Analytics and Risk Management
Answer to Question 1
The chosen company for this assignment is DALBY LOGISTICS LIMITED which
produces mass cargo and supply chain management system further founded in the financial
year 2010. There is some significant business deals associated with services related to the
transportation of mineral, iron ore, sand and forest products. Some of the products which are
transported by DALBY LOGISTICS LIMITED are oil, gas, lithium, grains and many other
products. In addition, warehousing services are provided by DALBY LOGISTICS LIMITED
which is currently are currently running a large construction project in Sydney. Then the
facility will be leased to numerous exporters and importers all over the world at the end of
this project. DALBY LOGISTICS LIMITED has a tremendous increase in the production as
it is having 20 subsidiary companies working with the same kind of potential (Hwang et al.,
2013).
DALBY LOGISTICS LIMITED has vast and wide range of connections in Pilkington
Ports Limited which actually provides DALBY LOGISTICS LIMITED entrance to 4 ports
across Australia. Such admittance further helped the business to increase the import and
export of goods and services of the company all over the world. The business has some of the
effective access for trading which is about to 15 ports across Australia, New Zealand and an
additional port in Malaysia and Singapore. In that area, there are about 15 logistic providing
services to the regions like in NSW, Victoria, South Australia, Western Australia and
Queensland. Further the operations of DALBY LOGISTICS LIMITED have been divided