Auditing, Assurance, & Services: Key Audit Matters and Going Concern in ANZ Banking
VerifiedAI Summary
This report examines the application of auditing standards ASA 701 and ASA 570 in the context of ANZ Banking Group. It identifies key audit matters, including credit impairment, valuation of financial instruments, and IT systems and controls, and evaluates their significance in the auditor's report. The report also explores the concept of going concern as defined by ASA 570 and its implications for the audit of ANZ's financial statements. The analysis provides insights into the auditor's responsibilities in assessing the company's financial health and communicating key risks to stakeholders.