Audit Assignment Analysis of Murray Organic River Annual Report

Audit Assignment

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By student name
Professor
University
Date: 30th Sep 2018.
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Contents
Part 3...........................................................................................................................................................3
Conclusion...................................................................................................................................................8
References...................................................................................................................................................9
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Part 3
a. Murray Organic River is a company that is established in Australia and that which deals
with the production, manufacturer and marketer for organic food products that are made from
natural sources and which are healthy for the people. It has been certified by the government to
indulge in this business. It has 4.400 hundred acres of farmland that produces organic products
along with that they are the largest fully integrated producer of dried vine fruit in Australia and
the largest vertically integrated organic dried vine fruit in the world. The company provides
services to the customer around the globe given its great line of products and facilities that it has.
It has offices around the globe that includes Sydney, Europe, USA, Japan etc (Alexander, 2016).
Thus, we see that the company has been able to spread it business around the world. The aim of
the company is to grow sustainably along with implementation of better and sound business
practices and manufacturing processes that would help in serving the customer sound the glue
along with promoting the concept of healthy and clean eating that is very much required in
today’s time. In this assignment an analysis of the annual report of the company is done, to shed
some light on important accounts that might be materially misstated and the overall risk that
might be associated with them (Arnott, et al., 2017).
b. The annual report of the company has been downloaded for look for five accounts that
might have chances of being materially misstated. Misstatement occurs on part of the
management or the employees when they fail to show the current value of the accounts of the
company given the fact that they are trying to under-state or overstate the financials for their
selfish reasons. In case of Murray, the company is having operations all around the globe, given
that the volume of transactions is so high, it is possible that some of the key accounts might be
misstated. Being an auditor of the company, it is a responsibility to look for such areas in which
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