Select a listed company from the current ASX List or this will be allocated to your group.

| March 17, 2019


Select a listed company from the current ASX List or this will be allocated to your group.    2. Gain an understanding of the nature of the entity and its industry and then identify key business risks. After this is completed, assess where the risks of material mis-statements could be in the financial report. Consider the factors affecting both Inherent Risk and Control Risk. Finally, apply the Audit Risk Model [AR = f (IR x CR X DR)] to the selected company. Which risk rating would you apply (Low, Medium or High) to the company‚Äôs inherent risk assessment and control risk assessment? How does this affect your assessment of Detection Risk and Audit Risk?    3

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