Question: We should extract data from evolution mining company's data SECTION 3 Section 3 - Part A Review the statement of cash flows. Which category of

We should extract data from evolution mining company's data

We should extract data from evolution mining company's data SECTION 3 Section

SECTION 3 Section 3 - Part A Review the statement of cash flows. Which category of cash flows provided the majority of cash inflows? Which category had the greatest outflows? Identify the primary cash receipts and cash payments during the year. What were the main non-cash financial and investing activities? Using the results of your review of the cash flows, analytical review and other public information, evaluate the going concern risk of this company. What audit procedures would you recommend to address any such risk? Some Guidance to help answer Section 3 - Part A The first part of Section 3- Part A can be obtained from the cash flow statement. The second part of Section 3 - Part A wants you to consider if the company is trending towards problems with short-term or long-term solvency? Is operating cash flows positive? is the company investing in its non-current assets ? What does your analytic review tell you about the company's prospects ? Is anything else impacting on the company (COVID?)? See Chapter 18 of the text on the auditor's responsibilities (e.g. mitigating factors, management plans). Section 3 - Part B Now review the audit report of the 2021 financial report. State what type of opinion was expressed? Are there any additional sections or paragraphs indicating any audit issues? What key audit matters have been addressed and how? Describe the nature of these issues in detail. Some Guidance to help answer Section 3 - Part B Section 3- Part B can be answered by referring to the Auditor's Report

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