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Auditing and Assurance - Assignment

   

Added on  2021-05-27

10 Pages3664 Words29 Views
Running head: AUDITING AND ASSURANCEAuditing and AssuranceName of the Student:Name of the University:Author’s Note:Course ID:

1AUDITING AND ASSURANCEExecutive Summary:The assessment of the present report depicted with “ASA 701 Communicating Key AuditMatters in the Independent Auditor’s Report”, as for the perspectives of mining organisationslike “Boral Limited, Amcor Limited, BlueScope Steel Limited and Newcrest Mining”. Theevaluation of financial statements and the disclosures made by the entities can be depictedwith significant aspects of users of the financial statements. As there has been no adherencemade by the entities with the ASA 701 rulings, their annual report cannot be declared asfeasible in nature. Moreover, this shows that there has been the presence of conformity toASA 315 which is followed by the auditors and the entities. Therefore, the use of ASA 315 isseen to be prevalent among the companies.

2AUDITING AND ASSURANCETable of Contents1. Introduction:...........................................................................................................................32. Key audit matters (KAM):.....................................................................................................33. Methods of of identifying KAM:...........................................................................................34. Conceptualisation of Going concern:.....................................................................................35. Conceptualisation of cash flow:.............................................................................................46. Assessment related to the mining industry:...........................................................................47. Research extent and application:............................................................................................68. Conclusion and Recommendation..........................................................................................6References..................................................................................................................................8

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