logo

Auditing Assurance and Compliance of an Organisation

15 Pages3439 Words387 Views
   

Added on  2021-06-17

About This Document

AUDITING ASSURANCE AND COMPLIANCE AUDITING ASSURANCE AND COMPLIANCE Corruption Assurance and Compliance University Name Student Name Authors’ Note Executive Summary The discussion in the following report clearly talk over the process of audit of an organisation along with its compliance with the corporate governance principles. In this report along with the principles there has been a risk assessment of the company has also been done and analysed for identification of the various processes for reducing the risk of Coca Cola Amatil. Executive Summary 1

Auditing Assurance and Compliance of an Organisation

   Added on 2021-06-17

ShareRelated Documents
Running head: AUDITING ASSURANCE AND COMPLIANCEAuditing Assurance and ComplianceUniversity NameStudent NameAuthors’ Note
Auditing Assurance and Compliance of an Organisation_1
AUDITING ASSURANCE AND COMPLIANCE1Executive SummaryThe discussion in the following report clearly talk over the process of audit of an organisationalong with its compliance with the corporate governance principles. The report is structuredin order to find out and evaluate the overall value, performance, and operations of the chosenorganization. The assessment would help to build an assurance that the organisation hasfulfilled the different obligatory compliances. In this context, the actual purpose of thecurrent study is to examine the level and scope of compliance analytically of the chosenAustralian company of Coca Cola Amatil that is a companies listed under the ASX 300. Thevarious responsibilities as mentioned under Corporate Governance Principles issued by theregulatory body of the Corporate Governance Council under the Australian Stock Exchange(ASX). In this report along with the principles there has been a risk assessment of thecompany has also been done and analysed for identification of the various processes forreducing the risk of Coca Cola Amatil. For the evaluation there has been calculation done ofthe ratio from income statement, and balance sheet of the company from the annual report2017.
Auditing Assurance and Compliance of an Organisation_2
AUDITING ASSURANCE AND COMPLIANCE2Table of ContentsExecutive Summary...................................................................................................................1Principles of Corporate Governance under ASX.......................................................................3Assessment of Risk....................................................................................................................7Balance sheet and Income statement ratio calculation...............................................................9Analysis of Common size statement-horizontal analysis.........................................................10Risk assessment........................................................................................................................12Steps for reducing Risk............................................................................................................12Reference..................................................................................................................................14
Auditing Assurance and Compliance of an Organisation_3
AUDITING ASSURANCE AND COMPLIANCE3Principles of Corporate Governance under ASXBasis of management and oversightThe basis of the management is taken care by the Board, who has been has delegatedauthority for managing the day-to-day operations and performance of the Company. Amatilhas a comprehensive framework of delegations of authority it starts from the Group’sManaging Director to the GLT and then goes down to the respective levels of management.There exists a company secretary who is directly accountable to the Board for all matters todo with the proper functioning of the Board (Beekes, Brown and Zhang 2015). The boardaims in providing the stakeholders of the company sustainable value ensuring that they arewell informed of Coca-Cola Amatil’s performance and major developments affecting itsaffairs Corporate Strategy. The board also takes care about the optimised financial reportingprocesses by forecasting the profits and other reports that are required at law or under theASX Listing Rules. The board also approves the major capital expenditure, acquisitions,divestitures, and capital management, including approving dividend payments(Haimes 2015).In addition to that the board monitors and influences the corporate culture and sets the valuesof Coca-Cola. Risk management framework is also set by the boards.Structure and outline of board for the firm value expansion The structure of the Board as mentioned in the Boards Charter Nominations CommitteeCharter depends on the majority of the Board which is comprised of Independent Non-Executive Directors. This includes being independent from The Coca-Cola Company, and notbeing the Group Managing Director (Pearson 2016). In terms of election the one-third of theBoard is required to retire at each Annual General Meeting but may stand for re-election asmany times they want. The Directors who are to retire shall be those who have been longestin office since their last election, noting that Directors must retire at the third AGM, or three
Auditing Assurance and Compliance of an Organisation_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Audit and Compliance Mechanisms
|16
|2309
|304

Audit, Assurance and Compliance
|15
|3249
|439

Audit, Assurance and Compliance - Analysis of Ausnet Services Ltd
|14
|3402
|174

Auditing Theory and Practice Coca Cola Amatil
|12
|2971
|127

Auditing Assurance and Compliance Assignment
|13
|2838
|21

Analysis and Evaluation of Coca-Cola Amatil Limited
|17
|4240
|460