Audit Program for Financial Statements of Advanced Nano Technologies Limited

Running head: AUDIT PROGRAM
Audit Program
Name of the Student:
Name of the University:
Author Note

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AUDIT PROGRAM
Table of Contents
Introduction......................................................................................................................................2
Business Operations.........................................................................................................................2
Investment activities........................................................................................................................4
Financing activities..........................................................................................................................4
Financial reporting practices............................................................................................................4
Auditing framework.......................................................................................................................11
Conclusion.....................................................................................................................................12
References......................................................................................................................................13

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AUDIT PROGRAM
Introduction
The issue that has been presented in the question refers to the fact that the accounting
statements of a corporate entity can be analyzed for the purpose of understanding the operations
of a corporate entity in regards to a single financial year. This means that the financial report of a
corporate entity describes the financial performance of the business organization. Moreover, the
stakeholders and the other investors of the corporate firms tend to understand and forecast the
business performance of the corporate entities on the basis of the financial information that has
been represented in the annual report of the firm (Raju et al. 2015). Furthermore, this kind of
financial information can be utilized for the purpose of analyzing the business operations that
have been carried out by a business entity and whether the business operations have been in
accordance to the accounting standards that have been established by the accounting regulatory
body.
This particular study aims to analyze the financial statements of a business corporation.
This means that the accounting statements of the corporate entity that has been chosen for the
purpose of the study is of the name.... The financial statements that have been chosen belong to
the financial year of 2017.
Business Operations
The certain business operations that have been carried out by the business entity refers to
the essential operations that have been carried out by the corporate firm throughout a single
financial year. These business operations can be listed down as follows:
 Zinclear – the revenue in regards to the Zinclear range of products has continued to grow
in regards to the percentage of 14.32%. This means that the corporate entity has partnered

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AUDIT PROGRAM
with Devereaux Specialties for the purpose of carrying out partnership with the
distribution partner for a longer period of time. The firm also aims to grow its sales by the
financial year of 2018. ANO has aimed to build the distribution network in Europe.
 Manufacturing in the US – the corporate entity of ANO has been planning to result in the
commencement of the production that will be full scale in nature in the country of US in
October 2017. The occurrence of the delays that have been technical in nature and the
equipment that have been required for the assistance in the manufacturing process
(Tuinamuana 2016). The US partners have also been helpful particularly in regards to the
R&D Department that have provided the required assistance in regards to the changes in
the production of the sunscreen. At the time of the commencement of the US
manufacturing the generation of the efficiency of the operation and has reduced the
logistic times to the Europe and US.
 Australian Manufacturing – the careful consideration of the different options of
manufacturing in Australia. The management of the corporate entity has been involved in
the negotiation of the long-term lease. This particular transition has been operational in
the creation of a new equipment (Howes et al. 2015).
 The financial year of 2017 has been significant for the corporate entity due to the fact that
the company of ANO has resulted in the successful filing of the three new patents. The
patents have been in regards to the products of a battery, a XPA end formulation recipe
and 3D Ceramics. The new patents have also been filled in the financial year of 2018.
 It must also be further noted that the corporate entity of ANO has resulted in the
development of a network of chemists that have been global in nature. The corporate
entity had developed a network of 28 chemists with 11 chemists. In the current times, the