Corporate Governance Principles and Risk Assessment: A Case Study of APA Group Limited

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Company Name: APA Group LimitedS
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HI6026 Audit, Assurance and Compliance
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Contents
Executive Summary...................................................................................................................4
Part 1..........................................................................................................................................5
Part 2........................................................................................................................................10
Reference:................................................................................................................................18
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Executive Summary
Corporate governance principles are also the part of audit. While conducting internal and
external audit auditors ensures that a company follows governance principles and maintain a
healthy relationship with their employees. The report presents a detailed description of
corporate governance principles and its implementation on ASX listed company. The
company here by considered for the report is APA group, which is a group company listed on
Australian stock exchange and operates electricity and natural gas within the organisation.
Implementation of these principles ensures that management of company are having a good
and open relationship with other stakeholders. These principles guide company to act
ethically and fairly with balanced structure of board members. These principles recognize and
manage the risk of the company. Along with this the report contains risk assessment
procedure which is followed by auditors while performing audit programme of the company.
Risk assessment informs regarding the material misstatement if any involved in disclosed
information of the company. In order to perform the risk assessment process auditors need to
compute ratios and develop common size balance sheet and income statements. All these
methods help in testing the available inherent risk within the organisation so that potential
steps can be taken to reduce the impact of such risk.
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