Download an annual report of an ASX listed company that is in the S&P/ASX 300 list. Review all the sections within the selected company’s annual report, which relate to the Auditor’s role in providing assurance over the entity’s financial statements and control environment. Students will need to review and analyse the following key areas included in the company’s Annual Report: ? Auditor’s Independence Declaration ? Independent auditor’s report ? Non-Audit services performed by the Auditor ? Auditors’ remuneration ? Role, functions and composition of the Audit Committee ? Independent Auditors report to the members (shareholders) ? Review all Key Audit Matters noted and the associated audit procedures Document Preview:
HI6026 Audit, Assurance and Compliance Trimester 2 2018 Individual Assignment Assessment Value: 20% General Instructions: 1. This assignment is to be submitted in accordance with the assessment policy stated in the Unit Outline and Student Handbook. 2. It is the responsibility of the student who is submitting the work, to ensure that the work is in fact her/his own work. Incorporating another’s work or ideas into one’s own work without appropriate acknowledgement is an academic offence. Students should submit all assignments for plagiarism checking on Blackboard before final submission in the subject. For further details, please refer to the Unit Outline and Student Handbook. 3. Maximum marks available: 20 marks. Refer to marking rubric for marking criteria. 4. Assignment should be of 2,500 words. Please use “word count” and include this in the report. Presented in Calibri font size 12. 5. Due date of submission: Week 9, Friday at 12.59 p.m. Topic: How is Enhanced Auditor Reporting being embraced in Australia? Background and Context: Since 2016, there has been a strong push to improve the quality of audit reporting. Listed entities now have to report on “key audit matters” and improve the way material information is communicated using “plain English”. As mentioned in the CPA Australia podcast “How is Enhanced Auditor Reporting being Embraced around the Globe?” (available at CPA Australia website): 1“The IAASB’s new auditor reporting requirements commenced in December 2016. Standard setters in many jurisdictions, including Australia and New Zealand, have issued the new requirements with the same effective date, whilst others have committed to issue the standards but have not yet done so. The UK have had similar requirements in place since 2013 and some firms in other countries have early adopted the IAASB’s requirements. Jim Sylph, Co-chairman of the IAASB’s Auditor Reporting Implementation Working Group, and Merran…
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