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ACC3AUD Auditing and Assurance

Question

Answered

Assignment

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.

The answers for below 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).

Your report must address the following issues:

Required:

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

(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. 

(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.

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

(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.

ACC3AUD Auditing and Assurance

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Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

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Financial Statements

2020 ANNUAL FINANCIAL R E S U LT S Then, Now, Always. AIR NEW ZEALAND ANNUAL FINANCIAL RESULTS 2020 1 *This document, in conjunction with the Air New Zealand Annual Shareholder Review 2020, constitutes the 2020 Annual Report to shareholders of Air New Zealand Limited. DIRECTORS’ STATEMENT Th ...

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Complexity of Business Transactions

Running Head: AUDITING Auditing Name of the Student: Name of the University: Author’s Note 1 AUDITING Table of Contents Question 2 ................................ ................................ ................................ ........... ...

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Changes in Accounting Treatment

AIR NEW ZEALAND 2020ANNUAL RESULT 1 AIR NEW ZEALAND 2020ANNUAL RESULT 2 This presentation contains forward -looking statements. Forward-looking statements often include words such as “anticipate”, “expect”, “intend”, “plan”, “believe”, “continue” or similar words in conne ...

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Business Activities

MMPA 510 : AUDITING TRIMESTER 2 20 21 AUDITING WORKSHOPS MMPA 51 0 Tri 2 20 21 - Auditing Tutorials 2 | P a g e Auditing Workshops There are four Workshops in this course held in Week 4. 6, 1 1 and 12. E ach workshop addresses different aspect ...

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