Auditing and Ethics in Australia - Tabcorp Holdings Limited

AUDITING AND ETHICS IN
AUSTRALIA
Tabcorp Holdings Limited
JANUARY 1, 2019
STUDENT’S NAME
[Company address]

Table of Contents
Executive Summary................................................................................................... 2
Discussion and Analysis............................................................................................. 3
Company introduction............................................................................................. 3
Section 1: Calculation of Materiality........................................................................3
Draft notes and disclosures in annual report...........................................................3
Section 2: Ratio Analysis......................................................................................... 4
Results of the Ratios, audit assertions and audit procedures to be applied............4
Section 3: Cash flow analysis..................................................................................5
Audit Report analysis.............................................................................................. 6
Conclusion............................................................................................................... 6
References................................................................................................................. 7

Executive Summary
Tabcorp Holdings Limited is one of the companies from Australia. For the purpose of
the audit, the annual report of company has been reviewed. The report start with
short introduction on the subject company, the relevance of materiality and how it
can be estimated for the given company. The report also mentions critical issues to
be considered during the course of audit which have been revealed from the notes
on accounts and drafts. The analytical review of the financials was conducted using
key ratios which were later explained in brief. Based on this, the audit assertion by
management and the relevant audit procedures to be undertaken. Lastly, the cash
flow statement of the company was analyzed to find out the major and minor
sources of the cash flows and if the company can be assumed to be a going concern
based on the same. The audit report of the company was also analyzed and the
critical issues highlighted in annual report were replicated here.