ng key audit matters in the independent

Task Details

The New Auditing Detail ASA701 Communicating key audit matters in the independent auditors report is developed in the wake up of global financial crisis. This development is in response to calls

From shareholders to know more about the companies they invest in . further investors have  also

Requested earlier warning of potential issue that may exist with respect to an entity ability to continue as a going concern which resulted in the revision of ASA 570 (ISA 570) going concern .

Student are require to select one industry in the austrialin ASX top 200 listed corporation and assess

The area of higher assessed risk of material misstatement , or significant risk indetified in accordance with asa 315 significant auditor judgements relating to areas in the financial report that involved significant management judgement as well as the effect on the audit of significant events or transactions that occurred during  the period (para 9 ASA 701). The Summary  Report should include

Data extracted from the genral purpose financial report relevant to the material analysed . The industry  can be banking mining, retail , telecommunication , manufacturing or other industry available on ASX top 200

Student must include at least twelve refrences including applicable acadmic journals , news paper ,

Professional accounting , auditing article , auditing standards ,code of ethics for professional accountants .