Assignment question Scenario:

| October 14, 2019

 You are a senior auditor in the firm of NY Partners. The firm has decided to take on a new client and has requested you to compile a report on the firm, as part of the initial stage of the audit planning. You are to undertake the analysis because you are familiar with the industry in which the firm is situated and your fellow seniors believe this will give you an advantage when planning the audit of the new client. Your fellow seniors look forward to reading your report. After you have given your report to the other seniors, they decide that your team will be handling the audit. The main purpose of the assignment is to give a briefing to your team about four major steps in planning the new client’s audit (1.Accept the client and perform initial audit planning, 2.Understand the client’s business and industry, 3.Assess client business risk and 4.Perform preliminary analytical procedures). Task: Chose a company which is listed under the Australian securities exchange (ASX) to analyse. (Remember that you are not permitted to choose JB Hi-Fi Ltd, West-farmers Ltd, Woolworth Ltd and Qantas Ltd) You are required to build an assessment of the new firm using any research means at your disposal; however you should include in your research information released by the media (news, newspapers, and industry magazines), academic information, and a comprehensive ratio analysis with industry comparisons. Please use the figures provided in the most recent annual reports. After you have uncovered the relevant factors in relation to four major steps in planning the audit (1.Accept the client and perform initial audit planning, 2.Understand the client’s business and industry, 3.Assess client business risk and 4.Perform preliminary analytical procedures), you are required to suggest suitable audit tests which you should perform when handling the audit and collecting evidence. The report should be concise and need to use the executive report format to attract 25% of marks. Word limit is 1500 words. Important: You may not approach any employee or manager of any business and speak to them. You may not represent to an employee or manager that you are undertaking research for any institution, including James Cook University. Further comments: Remember to describe your industry and the firm to which the report relates. All sections should refer to the appropriate standards, and standard paragraphs. The standards should be integrated into the document in a cohesive way. You should use the executive report format for the report. A letter of transmittal is not required. Word limit is 1500 words. APA referencing style should be used.

Order your essay today and save 20% with the discount code: ESSAYHELP
Order your essay today and save 20% with the discount code: ESSAYHELPOrder Now