practice audit planning and risk assessment by applying knowledge you learned in class to a real company; learn industrywide knowledge of the targeted company and learn how to justify and support your audit decisions with sufficient appropriate evidence; practice conducting analytical procedures and visualisations to assist risk assessment and to form audit evidence; practice the determination of audit opinion. 1500 +-10%

As an auditor assigned to the statutory audit of 2022 Annual Report for the company Tesla Inc. (NASDAQ: TSLA). complete the following audit tasks:

(1) Gain an understanding of the client. May include basic information and industry, major products, major competitors, recent important news, and others.

(2) Evaluate audit risk. Evaluate inherent risk and determine audit risk, assuming control risk is medium.

(3) Evaluate going-concern risk. Evaluate the company's going-concern risk.

(4) Identify and justify one key audit matter. Identify and justify the most important matter during your audit process.

(5) Identify and justify one key account and its key assertion. Identify one key account and its key assertion at risk of material misstatement. Justify your answer.

(6) Calculate the Overall Planning Materiality. Select an appropriate base and apply a reasonable percentage to calculate the dollar amount of overall planning materiality.

(7) Conduct one visualisation and one analytical procedure based on the provided data and conclude whether the key account has material misstatements. Assume that the provided data are a sample of detailed transactions related to the key account you select. For example, if you identify sales as the key account, the provided data are considered a sample of detailed transactions of sales or other related accounts or transactions. You are free to make assumptions on the provided data. Then, conduct one analytical procedure and one visualisation. You can use any software you like, such as SAS, STATA, R, SPSS, Tablet, excel, or others. This would include the data, sample period, method, assumption, the relationship you expected to observe in the data, and why this analysis is meaningful and effective. Include a brief summary of your findings. Using the results as audit evidence, evaluate whether the key account has material misstatements.

(8) Determine the audit opinion for the 2022 audit. Determine the audit opinion based on your professional judgement, your understanding of the company and the findings from the above analyses, assuming that there are no other significant issues. That is, for other parts, please assume they are correct and free from material errors.

(9) References (if any).

Please search for related news, browse websites, read previous financial reports, read reports by journalists and analysts, collect information from different sources, and conduct suitable analyses. The 2022 annual report has not been released, so you need to rely on the financial and non-financial information available at this moment to do your analysis. There is no standard answer, and the marks will not be linked to the real 2022 audit report. Marks will be low if you simply follow the previous audit reports. Logical and clear reasoning, sufficient appropriate evidence, and connections between each part are important in this assignment.