Develop an audit plan and execution of audit

Carry out extensive research on Tabcorp Holdings Limited. Identify inherent risks and control risks that may impact the financial statements of Tabcorp Holdings Limited. After identifying inherent and control risk of this company develop an overall audit strategy/plan. For each of risks that have identified, specify which types of testing procedures should be employed for planning the audit.

Risk area identified	Audit Risk assessed	Audit approach including details of audit procedures planned	Evidence to be collected for testing

Add more rows as required.

When discussing the need for testing, you must link to the theories of audit and the relevant literature to justify and clearly explain why such rigorous testing is required.

To score well in this question, you must conduct sufficient research in this area (using journal articles) to justify the need for such extensive audit work using relevant theory.

Note:

Minimum of ten references

Word limit - 1250

Use Harvard reference styles for both in-text and reference lists.

use the company website, financial statements, and all publicly available information, and carry out quality research by relying on journal articles that provide reliable information on the industry and the theories of audit.