This report analyzes the financial statements of National Australia Bank Limited (NAB) for the year ended June 30, 2018, as part of an Auditing and Assurance assignment. The report identifies three accounts at significant risk: Cash and cash balances with other banks, Deposits and other borrowings, and Trading instruments. The analysis highlights potential material misstatements and internal control weaknesses associated with each account. For cash, the risk of embezzlement and misstatement due to its liquid nature is emphasized. Deposits and borrowings are scrutinized for classification issues and potential under-reporting. Trading instruments are assessed for valuation risks stemming from volatile market conditions. The report then identifies the key assertions at risk for each account, including existence, accuracy, cut-off, classification, completeness, obligation, and valuation. The report is based on the annual report of NAB and other relevant information.