This document discusses the concept of significant risk in auditing and assurance. It explores the significant risks associated with cash and cash balances, deposits and other borrowings, and trading instruments. The document also highlights the key assertions at risk for these accounts.

Client Evaluation Report

Prepare a client evaluation report for the senior members of an auditing firm, based on research and analysis of the annual report of National Australia Bank Limited (NAB) for the year ended 30 June 2018, to determine whether the auditing firm should consider tendering for the audit of NAB.

There is a significant risk inherent in auditing and assurance. This document discusses the risks associated with these activities and how they can be managed.

Significant Risk in Auditing and Assurance

Material Balances

This presentation outlines the substantive audit procedures developed by the team for the financial report of Australia Bank Limited Company. The team focused on the statement of financial position, income statement, statement of comprehensive income, statement of changes in equity, cash flow statement, summary of notes to the financial statements, and the declaration by the Director. The presentation also discusses inherent risk, control risk, key business risks, and how the group reduced risks. Additionally, it covers analytical procedures on the balance sheet, accounts identified as key matters, different material balances, material account balances and assertions, description of the assertions, and how to treat material significant matters.

Hartpury University and Hartpury College

Finance

Calculus and Analysis

Audit Program for Australia Bank Limited Company

This document discusses the areas at risk of material misstatement in Auditing and Assurance. The author analyzes the reasonableness of account balances reported in the financial statement of the entity through analytical review. The areas at risk of material misstatement are Cash and cash equivalent, Trade and other payable, and Inventories.

Auditing and assurance

This article discusses the importance of auditing cash and plant & equipment in auditing and assurance services. It also includes the assertions and substantive tests of detail for these assets. The article also covers the risk and assertions involved in impairment expenses.

Auditing and Assurance Services: Importance of Cash and Plant & Equipment Audit

This study material provides an overview of auditing and assurance. It discusses the concept of materiality in audit and identifies the key assertions involved with revenue, cash and cash equivalent, plant property and equipment, and short-term trade and other payables. It also explores the main objectives of an audit and the role of an auditor in detecting frauds and errors.

Auditing and Assurance

This document provides an analytical review of auditing and assurance in Australia covering areas of concern, justifications, assertions, ledger accounts impacted, and audit procedures. It also includes a ratio computation and appendix.

Asia Pacific College

Auditing and Assurance in Australia - Analytical Review

This article discusses the accounts at significant risk in auditing and assurance, including goodwill, fair value of financial instruments, and accounting for discontinued operations. It explores the key assertions at risk for each account and provides references for further reading.

Significant Risk in Auditing and Assurance

End of preview

Audit Program for Australia Bank Limited Company

Auditing and assurance

Auditing and Assurance Services: Importance of Cash and Plant & Equipment Audit

Auditing and Assurance

Auditing and Assurance in Australia - Analytical Review

Accounts at Significant Risk in Auditing and Assurance

Significant Risk in Auditing and Assurance

End of preview

Audit Program for Australia Bank Limited Companylg...

Auditing and assurancelg...

Auditing and Assurance Services: Importance of Cash and Plant & Equipment Auditlg...

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Auditing and Assurance in Australia - Analytical Reviewlg...

Accounts at Significant Risk in Auditing and Assurancelg...

Audit Program for Australia Bank Limited Company

Auditing and assurance

Auditing and Assurance Services: Importance of Cash and Plant & Equipment Audit

Auditing and Assurance

Auditing and Assurance in Australia - Analytical Review

Accounts at Significant Risk in Auditing and Assurance