Commonwealth Bank of Australia Assignment

Added on - 03 Mar 2021

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Executive summaryThis report has illustrated the importance regarding adequate Assurance which aresupervised through SOX act (2002). Non-Assurance services and Assurance facilitiesare also interconnected which are dependent upon organizational demand. Majorchanges are done based upon proper policies which are correctly relevant to auditorsIndependence factor. Audit fees are accurately decreased by choosing CommonwealthBank at Australia which is dependent upon annual report. Supply alongside demandtheories are also mentioned which are imitated by 2020.
Table of ContentsIntroduction........................................................................................................................4Part 1: Demand of sufficient Assurance............................................................................5A) Deliver demand from Assurance and Audit services under SOX act (2002)............5B) Describe auditors understanding regarding corporate governance, arguments andupdate after SOX-act (2002)..........................................................................................8Part 2: Audit fees measurement alongside ASX-CGC principle.....................................10A) Accomplish the annual report (2019) through ASX100 companies list alongsidelocate the disclosures by explaining all amounts that are paid towards Auditors.Deliver the respective amount has paid to auditor by understanding non Assuranceservices. Explain supply and demand theories regarding audit fees in company.......10B) Deliver respective company application regarding ASX-CGC principles by utilizingcorporate-governance-principles-and-recommendations............................................13Conclusion.......................................................................................................................14References.......................................................................................................................15
IntroductionBasically, Sarbanes-Oxley-Act (2002) considers as law that it usually generated toassist for securing investors from all fraudulent activities in corporation. It is accuratelymandated and Reforms to present securities regulations which are imposed via new lawbreakers. This assessment will divide into two essential parts where Assurance andAudit services will demonstrate significantly by understanding demand factor which isrelevant to SOX act (2002). Besides, it will also highlight the better understandingregarding corporate governance where auditors are connected individually and theseare based upon proper changes which will done by government. Another section willalso illustrate the disclosures of which are selected based upon ASX 100 companies listin the probable manner. Respective amount has essential to pay for non-Assuranceservices purposes. Moreover, supply alongside demand theories is also mention basedupon audit fees that are related to particular organization. This organization will alsodemonstrate ASX-CGC principles which are connected to governance principlesalongside proper recommendation factor.
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