This assignment is designed to consolidate your learning of the key skills and knowledge needed when...

 

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This assignment is designed to consolidate your learning of the key skills and knowledge needed when facing a financial report audit of a company, and how to analyse, research and pinpoint facets of the company that require auditing attention. Background For the purposes of this assignment, you are to imagine that you work as Audit Manager for a company called Amazing Accountants. Your new audit client is a listed company in Australian or Singapore Stock Exchange (your choice). The client has asked you to perform their financial report audit for the financial year ended 31 December 2020. Part 1 Question Research information about your audit client and its industry. Your report will form part of the overall understanding ofac your audit client's structure and its environment. You should concentrate your research on providing findings from those areas that have a financial reporting impact. In conducting your research, you should consider any FIVE (5) of the following key market forces, as they relate to your audit client's operations. 1. General and industry-specific economic trends and conditions 2. Competitive environment 3. Product information 4. Customer information 5. Supplier information 6. Technological advances and the effect of the internet 7. Laws and regulatory requirements. This assignment is designed to consolidate your learning of the key skills and knowledge needed when facing a financial report audit of a company, and how to analyse, research and pinpoint facets of the company that require auditing attention. Background For the purposes of this assignment, you are to imagine that you work as Audit Manager for a company called Amazing Accountants. Your new audit client is a listed company in Australian or Singapore Stock Exchange (your choice). The client has asked you to perform their financial report audit for the financial year ended 31 December 2020. Part 1 Question Research information about your audit client and its industry. Your report will form part of the overall understanding ofac your audit client's structure and its environment. You should concentrate your research on providing findings from those areas that have a financial reporting impact. In conducting your research, you should consider any FIVE (5) of the following key market forces, as they relate to your audit client's operations. 1. General and industry-specific economic trends and conditions 2. Competitive environment 3. Product information 4. Customer information 5. Supplier information 6. Technological advances and the effect of the internet 7. Laws and regulatory requirements.

Answer rating: 100% (QA)

The detailed answer for the above question is provided below 1 General and IndustrySpecific Economic Trends and Conditions The economic trends and conditions of the industry in which the audit client ... View the full answer