This report presents an audit of Elmo Software Limited, a growing HR tech company in Australia and New Zealand. Part A focuses on preliminary risk assessment procedures, including control risk evaluation and the internal control system's effectiveness. It details analytical procedures to assess the company's financial performance, including key financial ratios and trends, and determines planning materiality based on the company's total assets. Part B discusses audit quality, emphasizing its importance for investor confidence and the role of regulators like the Australian Auditing Standards (AAS). It highlights the auditor's responsibilities in maintaining audit quality, ensuring accurate financial reporting, and adhering to professional skepticism throughout the audit process. The report provides a comprehensive overview of the auditing process, from risk assessment to ensuring the integrity of financial statements.
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