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Audit and Assurance on Schaffer Corporation Limited

This is a group assignment for the Auditing course at Holmes Institute Faculty of Higher Education. The assignment is to be submitted in accordance with the assessment policy and has a word length of 3,000 words.

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Added on  2023-06-04

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This presentation analyzes the financial performance and audit test on the Schaffer Corporation Limited. It suggests recommendations to strengthen the liquidity position and profitability of the company. The audit risk model and sampling plan have been used to analyze the performance of the company. The subject is Audit and Assurance, and the college/university is not mentioned.

Audit and Assurance on Schaffer Corporation Limited

This is a group assignment for the Auditing course at Holmes Institute Faculty of Higher Education. The assignment is to be submitted in accordance with the assessment policy and has a word length of 3,000 words.

   Added on 2023-06-04

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Audit and Assurance
Student Name:
Student Id:
Audit and Assurance on Schaffer Corporation Limited_1
Introduction
This presentation reveals the
financial performance and audit test
on the Schaffer Corporation Limited.
The audit risk model and sampling
plan have been used to analysis the
performance of company.
Schaffer Corporation Limited is
indulged in operating the branches,
being property, building materials
and automotive leather
Audit and Assurance on Schaffer Corporation Limited_2
Analytical review
financial performance
Schaffer Corporation Limited has
high profitability and low financial
leverage.
Company should increase the
debt funding to lower down the
cost of capital.
Increased return on capital is
based on the cost of capital of
company.
Audit and Assurance on Schaffer Corporation Limited_3
PLANNING MATERIALITY
MATERIAL ACCOUNT BALANCES


ASSETS LIABILITIES
Cash & short term deposits 1. Trade & other payable
Trade & other receivables 2. Interest bearing loans
Inventories & borrowings
Property, plant & equipment 3. Provisions
Investment properties 4. Non-current interest
Deferred income tax assets bearing loans &
Other financial assets borrowings
5. deferred income tax liabilities
Audit and Assurance on Schaffer Corporation Limited_4

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