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Understanding planning stage of the audit process: review of client business and perform audit risk analysis (Example)

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Audit Report of Amaysim Australia Limited Name Institution Course Date Audit Report of Amaysim Australia Limited Introduction Amaysim Australia is a leading mobile virtual network operator in the Australian market. It is a fast growing mobile operator with over eight hundred thousand subscribers as at the 30th June 2016 with its shares trending at over two percent in the stock market (Macquarie Group 2015). Thus the mobile operator is regarded as the fourth largest mobile service provider within the telecommunication industry in Australia. Amaysim (2017) state that the corporation sells a variety of both voice and data bundles within the 3G and 4G networks. Its products are usually competitive in price and are sold at bring your own device protocol. The company started its operations back in the year 2010 and has been on an upward growth with its revenue expected to grow to over three hundred million US retain them (Gray et al 2012) References Amaysim. (2017). amaysim | SIM cards mobile phone & mobile broadband plans. Retrieved from www.amaysim.com.au A. A. Best P. Shailer G. Fiedler B. Elder R. J. & Beasley M. (2007). Auditing and assurance services in Australia: an integrated approach. Pearson Education Australia. Business Optus. (2011).Operating and Financial review. Business in Australia. Sydney Council A. C. G. (2010). Corporate governance principles and recommendations with 2010 amendments. Australian Securities Exchange Sydney. Domazet A. & Sarić N. (2009). Strategies of mobile virtual network operators in the southeast Europe region. Interdisciplinary Management Research 5 123-135. Gray D. D’Alessandro S. & Carter L. (2012). State of the mobile nation. Macquarie University Sydney Australia. Google Scholar. Macquarie Group. (2015). amaysim Australia. Sydney: Macquarie Securities (Australia) Limited. Retrieved from www.macquarie.com.au Redican B. McCormack D. & Tierney M. (2006). The Australian Economy. Current Economics-Journal of International Economic Research- 50 10. [...]

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ASX Listed Company I chose : AMAYSIM AUSTRALIA LIMITED AYS Telecommunication Services Please do the research based on Australia Auditing and Assurance services. Assume that you are audit senior in an accounting firm. Your firm has recently won an audit for a ASX listed company (AUstralia) that you have selected in your assignment. The assumptions are that your firm does not have any other clients that operate in this industry and your audit partner is concerned about his lack of knowledge of the industry the company is operating in. He is aware of the requirements of ASA 315 (par 25 and 26). (Australia) Your audit partner asks you to prepare a memo/ report on the ‘state of the company’s industry’ and associated risk factors. Your report must cover or at least address the requirements below and exhibit effective communication (attributes such as coherent writing style, proofreading and proper referencing) Required: write a report to your audit partner to answer the following research questions: a) Indicate three positive or negative signals from the company’s good and bad corporate governance observed in the company’s annual report. (references may be made to the Corporate governance principles and recommendations issued by the ASX Corporate Governance Council in August 2007) *(Australia)* b) Prepare details to the audit partner on the ‘state of the company’s industry’ and associated risk factors. The state of the company’s industry should at least demonstrate the relevant statistics figures released by ABS or equivalent. Identify two major audit risk areas, and explain the potential impact of the audit risk on the company’s financial statements; and detail the auditing procedures to verify the account balances impacted by the risk. c) Identify two relevant general balance-related and two transaction-related audit objective based on the finding from the risk factors in part b). The required audit objectives here must be specific to the company that you are working on and causal relationship with part b) must be established. d) Perform overall analytical procedures to identify significant changes in the financial positions or results of the business which require detailed investigation and explanation. The overall analytical procedures / risk analysis should at least cover the areas in liquidity, (can the business meet present obligations?) solvency (can the business continue to operate for the foreseeable future?) and profitability (is the business profitable?) Here's website for the ASA 315 Australia www.auasb.gov.au I will attached the books pages that related to this unit.

Subject Area: Accounting

Document Type: Proofreading

This project has already been completed by one of the Studybay experts. The client rated this project:

Project's rating is 5/5

Price $25

Words 825

Pages 3

Completed in 20 days

Expert Charlohc

Client Review

Excellent I received an DI grade!

Positive
05.15.2017

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