BA313 Auditing: Legal and Ethical Responsibilities Report

This report examines the responsibilities of auditors and organizations in the auditing process, exploring different types of audits such as compliance, financial, and investigative audits. It emphasizes the importance of audit planning and outlines the steps involved. The core of the report is a case study on Centro Properties Group, detailing the errors made in its 2007 auditing procedures by PWC, the legal and ethical issues arising from the case, and the application of auditing standards. The analysis includes discussions on corporate governance failures, breaches of the Corporations Act, and the ethical implications of misreporting. The report concludes with a discussion on audit risk and the components affecting it, providing a comprehensive overview of auditing principles and practices.