Auditing Assignment (Solved) - JB Hi-Fi Ltd

   

Added on  2020-10-04

8 Pages1638 Words52 Views
AUDITING
Auditing Assignment (Solved) - JB Hi-Fi Ltd_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1A. Justification in relation with the corporate governance process of both the organisations1B. Identification of the Audit committee of both organisations.............................................3C. Determination of usefulness of the audit committee for auditors and for the companies.5CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6
Auditing Assignment (Solved) - JB Hi-Fi Ltd_2
INTRODUCTIONInternal and external auditing is the prime requirement of business in accordance withanalysing the outcomes and facilitating informations to the stakeholders. In the presentassignment there will be discussion based over the corporate governance of JB Hi-Fi Ltd andCommonwealth bank. The report will be helpful in terms of analysing the audit committee,auditing professionals and society of the these organisations.A. Justification in relation with the corporate governance process of both the organisationsIn accordance with the corporate governance of these organisations which are analysedas follows:JB Hi-Fi Ltd:As per the corporate governance of JB Hi-Fi Ltd. There has been distribution of thework in accordance with level of duties and operations handle by the professionals atorganisation. The role of board of directors is relevant with protecting the firm from anyfinancial crisis as well as enhancing the long term shareholder values. In accordance with theother managerand directors of group are committed to make appropriate efforts in accordancewith conducting the high ethical governance (JB Hi-Fi Ltd ANNUAL-REPORT, 2017).However, this statement can be found in the governance, environmental and social statementsection such as section 4 for the operations.Commonwealth Bank:The bank has rules and regulations as well as framework for the development highstandard corporate governance. The directors, managers, board and the committee is highlycommitted towards facilitating the shareholders with appropriate amount of dividend andprotects their investments in the company (Annual Report, 2017). However, this statement hasbeen found in the section 4 of the annual report as corporate governance.ASIC:In accordance with the corporate governance the Australian securities and investmentscommission plays the main role in giving it the legal framework. It works as funnelling thestakeholders toward analysing their duties and responsibilities in the organisation. However, themain motive is to resolve the managerial conflicts, shareholder engagements, oversight the1
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