Auditing and Ethics Report: Tabcorp Holdings Limited Analysis

This report provides a comprehensive analysis of Tabcorp Holdings Limited's auditing and ethical considerations, based on its 2018 annual report. It begins with an executive summary and an introduction to the company, followed by a detailed calculation of materiality, crucial for audit planning. The report then delves into ratio analysis, assessing liquidity, profitability, solvency, and efficiency, along with the corresponding audit assertions and procedures. A cash flow analysis identifies major cash sources and uses, determining the company's going concern status. The report also examines the audit report, highlighting key issues. The analysis covers revenue recognition, acquisitions, and contingent liabilities, and includes a discussion on the auditor's opinion and critical observations, such as business combinations, intangible assets, and IT system reliance. The report concludes with an overview of the findings.