University : La Trobe University UniLearnO is not sponsored or endorsed by this college or university.
Subject Code : ACC3AUD
Country : Australia
Assignment Task

Submission details:

• All submissions must be typed in a minimum 12 font, with double spacing using word and submitted via the Turnitin link available on the LMS.

• The Turnitin percentage should be as low as possible.

• Report must be submitted in a Word file format- failure to follow this instruction (and other presentation requirements outlined below) will result in a deduction of marks.

Late Submission

“The standard penalty for late submission of assessment task is 5% of the marks for that task for each delay in submission of a day or partial day up to a maximum of five (5) working days after the due date.”

“Assessment tasks will not be accepted after the earlier of the following occurrences:

• The fifth (5th) working day after the due date; or

• Feedback on the assessment task has been returned to any student by the Teaching Team member”

Presentation Requirements

The assignment must be presented in the following report format:

1. A covering page (containing the title of the assignment, name and student number and word count)

2. An executive summary (concise summary and overview)

3. A table of contents (presented on a separate page)

4. Body of report with answers to each of the questions, including headings for each question and part of question (do not include a copy of the question)

5. Conclusion (logical and coherent summation of the assessment task, including key findings)

6. A reference list (Harvard or APA referencing style). Appropriate references and citations throughout the report are expected.

7. Page numbering (your table of contents must have the roman numerals.)

Audit risk assessment and planning

You are a part of the team responsible for planning the A2B Australia Ltd (ASX code – A2B), a company providing personal transport solutions, audit engagement for 2020. You are required to gather relevant background information and prepare a report for a meeting with your audit seniors. Assume that this is the first time that the audit will be conducted by your audit firm for this client.

Your report must address the following issues:

Required:

(a) What are the areas in which A2B conducts its operations? (4 marks)

(b) Are there any events or conditions that may cast significant doubt on the A2B’s ability to continue as a going concern? Explain. Your answer should be supported by at least three factors. (6 marks)

(c) Based on your risk analysis and understanding of A2B and its environment, list and explain three accounts that could be at risk of material misstatements. You also need to identify the key assertion at risk for each identified account. (12 marks)

(d) Identify an appropriate base and set planning materiality for A2B. Explain why you have chosen this base and the percentage you have used. (4 marks)

(e) Lately A2B acquired Gold Coast Cabs (fleet of approximately 400 taxis) to further advances its strategy of offering quality services on a national basis. How will this acquisition affect your 2020 audit plan for A2B? Your answer should be supported by at least four factors.

The answers for above questions should be reflective of your in-depth understanding of how the A2B operates. You should conduct extensive research and perform an analysis of the annual report of A2B for the year 2019 and any other relevant information that you have obtained. (Hint: company’s financial results, financial press and other business media).

Assignment Marks Allocation
The marks for the assignment will be allocated in accordance with the following schedule:

Assignment marking criteria.JPG

 

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  • Uploaded By : Alon 
  • Posted on : September 16th, 2018
  • Downloads : 434

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