Audit Report on Amcor Limited: Analysis of Audit Service Provided by Auditors

Running head: AUDIT
Audit
Name of the Student:
Name of the University:
Authors Note:

1AUDIT
Executive Summary
The report is prepared with a purpose to evaluate and analyze the audit service provided by the
auditors and evaluate the assurance and appropriateness of the audit report in terms of the
legislation in Australia.
Several reports that are associated with auditing and several documents stated in the financial
statement have been taken into account in order to analyze all the key aspects that is associated
with the auditing procedure of the company.
The outcome of this report is expected to figure out the functioning, responsibilities and
structures of the audit committee and the audit process. The auditors have also presented the
method of analyzing the material information of the company by the auditors in this report in
order to assess the presentation of the audit report.

2AUDIT
Table of Contents
Introduction:....................................................................................................................................3
Discussion:.......................................................................................................................................3
Compliance of Auditors with Independence requirements:............................................................3
Nature of non-Audit Services:.........................................................................................................3
Analysis of Remuneration of the Auditors:.....................................................................................4
Evaluation of Key Audit Matters:....................................................................................................5
Evaluation of Audit Committee:......................................................................................................6
Reference.......................................................................................................................................10

3AUDIT
Introduction:
This report is made to summarize and evaluation the assurance services which are being done for
Client Company and which are being provided by the auditors. This analysis also includes the
audit opinion, key audit, audit committee, remuneration and non auditing services which are
some of the other pertaining areas of auditing. For this analysis the company which is being
selected is Amcor Limited. Amcor Limited is a global leader who produces and develops high or
premium quality packaging for various products like foods, beverages, medical devices, home
care products and pharmaceutical in a responsible and proper manner. From the annual report of
this company, it has been understood that they internally do a second party audit that is done
every three year (Shah and Richardson 2016). Their main plan is to improve and find their weak
spots through continuous efforts. A monthly report is provided to the board of directors of the
Amcor Limited of the safety performances and the compliances with the company. They also
took a global initiative for conducting and the injuries of auditing. This report also gives a
demonstration of the effectiveness of the information of the materials that is provided by the
auditors of the company.
Discussion:
Compliance of Auditors with Independence requirements:
The team of auditors of Amcor Limited regularly report the board of directors about the
framework of risks. Amcor Limited’s management reviews the independent loss prevention
audits and the appropriate time to purchase external assurance. PWC was the auditor of Amcor
Limited for the financial year 2018 and they performed statutory duties with other services as
well. The annual report of the financial statements showed that hoe much did the company pay
the auditor (Haywood et al. 2016).
Nature of non-Audit Services:
PWC provided some non-audit services that comprised of advice given on taxation and
compliance services. And the taxation related advices which they gave, has been provided by
them since 2000. According to the written advice which was provided by resolution of
compliance and the audit committee, the board of directors considered the non audit services of