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Audit and assurance analysis

   

Added on  2021-06-15

7 Pages725 Words21 Views
COCA COLA AMATILAudit and AssuranceAudit and assurance analysisName of Author

1

IntroductionIn this report, audit and assurance services provided by the auditors to a business havebeen analysed. This report is prepared on the Coca-Cola Amatil Company. The company appliesAASB 112and AASB 136 in its financial reporting practices as well. AASB 112 implies that thecompany should account for the future and current tax consequences of its transactions whileAASB 136 applies to the impairment of assets.Identify two (2) key asset accounts at risk.Plants and Machineries Account ReceivablesKey assertion (as per ASA315) where the audit efforts1.AssetAccount2(a).Explanation ofwhythe account is atrisk2(b).Key Assertion(Identify ONLYoneassertion that youconsider to be themost important foreach asset account)2(c).Substantive test ofdetailPlantsandmachineriesThe plants andmachineries areshowing highfluctuation in theIt states that thecompany mustensure that itsassets areThe company alsoapplies AASB112and AASB 136in its financial2

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