This presentation provides an analysis of Schaffer Corporation Limited's financial performance through audit and assurance testing, utilizing the audit risk model and sampling plans. It highlights the company's high profitability and low financial leverage, suggesting increased debt funding to lower the cost of capital. The presentation covers planning materiality, material account balances, and assertion testing, emphasizing the use of regression analysis to measure detention risk. It also evaluates the implementation of a sampling plan based on the audit risk model, noting high detention and control risks. Recommendations for Schaffer Group Ltd include strengthening liquidity, maintaining low financial leverage, and effectively managing capital deployment to increase returns. The conclusion stresses increasing financial leverage through debt, using assertion testing to lower audit risk, and following AASB 136 for accurate asset and liability valuation. The presentation references academic sources and company reports to support its analysis.