Audit : Page - 3

Overview of Audit AssertionsAudit assertions are the explicit or implicit representation or claims made by management who are responsible for preparation of the financial statement for appropriateness of various elements from the financial statements as well as the disclosures. While preparing the financial statements, management makes various explicit or implicit claims those are known as assertions regarding the presentation, measurement and...

Enron scandal and audit qualityAfter applying the applicable sub-standards of audit for concluding their performance on uncertainty in getting the assurance. It was analyse that the major stakeholders are open to risk. This includes the auditor as well. The base of the report is stakeholder analysis. The report provides the evaluation of the impact as the material misstatement is not identified. In the second part of the report concepts of APE...

Goals and ObjectivesGoals and Objectives Some of the goals of the intelligent company include: Improving production through the use of technology. Improving employee turnover. Risk mitigation caused by fluctuations in a single market done by use of SBUs. Focusing on decisions equally to improve operations in every part of the organization. Acquiring new business ventures and identifying market opportunities by venturing into available ...

Introduction to code of conductA Code of conduct defines the expectations of the organizations and also the guiding principle in context of the appropriate behaviour at the workplace. Code of conducts illustrates the policies and regulations framed by the organization, as these policies and regulations defined the legal and ethical guidelines in context of governing the relationship between the employees, service users and clients (Erwin, 20...

Overview of Westpac Banking GroupWestpac is as an Australian Bank which is engaged in the business of providing financials and banking services to its customers. It is known to be one of the Australia’s big four bank and its headquarter is situated in the Westpac, Sydney. The name of the bank is the amalgamation of two major names which are “Western” and “Pacific”. As of March 2018, the number of the employee...

Question 1The increasing emphasis placed by the businesses to promote transparency and accountability in their operational activities has caused them to develop and publish the information related to their Corporate Social Responsibility (CSR) practices. CSR practices can be regarded as the measures implemented by a company for being responsible towards society and environment. This is essential for providing an insight into the initiatives th...

Reviewing various draft notes and disclosures mentioned in the annual reportMateriality is depicted as one of the significant scopes of audit, which needs to be taken into consideration by the auditors, while conducting the audit report. without the consideration of materiality present with the operations of the organisation the auditor is not able to successfully complete the audit process. Materiality is considered to be one of the financi...

Analysis and DiscussionThe audit plan for the client Trunkey Creek Wines is to be prepared for the year ended 30th June 2018. TCW is one of the significant clients of MYH for long. The principle activities in which the client deals in is growing grapes for the wine production, production and distribution of different types of wines, beef cattle production on the surplus lands and investment of the surplus funds. The insufficient rainfall ...

Corporate Governance of Commonwealth Bank of Australia This report will focus on the corporate governance of the Commonwealth Bank of Australia. The Commonwealth Bank has stated their corporate governance in their annual report where they had mentioned that they have complied with all the principles and recommendation of ASX. Recently an inquiry conducted by the Royal Commission where several banks governance has been found to be in question and...

Defining Business ProcessesDiscuss About The Factors Affecting Performance Of Enterprise. Strategic information systems or SIS are the information systems, which are subsequently developed with the sole purpose of executing business objectives. There can be several important business initiatives within any particular organization or business (Galliers and Leidner 2014). Each and every business initiative is needed to be c...

AnalysisDiscuss about the  knowledge audit and its importance based on respective case studies. This assignment deals with knowledge audit and that deals with understanding of the knowledge requirements of an entity and how they can achieve their desired goals and their overall loopholes in terms of the lack of knowledge can also be found from the help of knowledge audit. The assignment is based on a UK Company that deals with redu...

Background of the organizationDiscuss about the organisation is ANZ group. Strategic management is crucial in the large organization for a better outcome of the performance. There are several constraints upon which these strategies are made and measured. Various internal and external analyses are involved to make a perfect set of functionaries for a company (Nurcholis and Satria, 2017). ANZ group is regarded as one of the best banks in ...

External AnalysisDiscuss about the UOB Bank Strategy Analysis. Its headquarters is mainly in Singapore with branches mainly in Southeast Asia. It was setup in 1935 with group of Chinese born businessmen. In terms of total assets, it is one of the largest banks in South East Asia (Acharya, 2014). United Overseas Banking has 60+ branches in Singapore. It has network of 500 offices in 19 countries in Western Europe, Asia Pacific and North ...

Background of the CompanyDiscuss about the National Australia Bank for Operating Philosophy and SWOT Analysis. Market review or the market analysis can be described as the study of the dynamics and the attractiveness of a market that exists within a specific industry. A market review is an analysis of the industry and it also acts a global environmental analysis. The SWOT analysis is an efficient tool which helps in the domestic as ...

The Concept of Globalization and Its Related AspectsDiscuss about the International Business for Woodside Petroleum Limited. The real change in the business world began with the Industrial Revolution of the 19th century as the use of the machines drastically changed the way the various business organizations used to operate at that particular point of time (Weismann, Buscaglia and Peterson 2014). However, many scholars are of the opi...

Overview of Financial Instruments and AASBs1. Discuss the recognition for financial instruments including financial asset, financial liabilities and equity instruments according to relevant AASBs. 2. Discuss the measurement of finical instruments according to related to relevant AASBs. 3. Identify different types of financial instruments available in the chosen company. 4. Provide at least one example of each type of financial instrument av...

Business Process Management in Commonwealth BankDiscuss about the Implementation Of ERP System In The Organization. The primary aim of this task is to provide brief information about the implementation of ERP system in the organization. ERP system is essential to enhance and increase the outputs of the firm. This system is implemented by many companies to conduct the business operations in a hassle free manner. Commonwealth bank has bee...

Main features of organizational transformation during McFarlane’s Tenure in ANZ Bank Discuss about the Case Study on ANZ Bank Management. This is report which will evaluate a case study on ANZ Bank which is among the largest and most successful companies in Australia. ANZ bank provides a range of banking and financial services to their consumers in the market. The report will identify the features of organization implemented during the te...

Overview of Commonwealth Bank of Australia Discuss About The Implementation Success Principles Process. Enterprise resource planning (ERP) is important software that currently assists businesses to organize, manage and planed its operational processes. Many businesses currently have adopted and implemented the software that automates various customers support processes. One of the areas where ERP has been implemented is banking industry where t...

Issues Leading To Earning ManagementDiscuss about the Concept Of Earning Management. Every company that carries on an economic activity runs with an ultimate goal to make money. Apart from making profits throughout the accounting year, the accountants and management want to present the company’s profile to the public in an attractive manner to lure the investors for investment and public so that shares can be sold. If this doesn&r...

Overview of Digital Bank of SingaporeDiscuss about the Audit Risks Of Digital Bank Of Singapore. Auditing refers to the process of inspecting the financial statements of the business entities in order to make sure that they are free from material misstatements (William Jr, Glover and Prawitt 2016). For this reason, it is the responsibility of the auditors to assess the audit risk in the organizations. On the other hand, business organiz...

Overview of the Commonwealth Bank of AustraliaDiscuss about the Strategy formulation for international expansion. The Commonwealth Bank of Australia is a multinational Australian bank having its headquarters in Sydney. Its business is spread over a wide range of markets across the world. These include New Zealand, Fiji and some other selected Asian markets, the United States and United Kingdom (www.commbank.com.au). The bank was establi...

Adherence to GPFR and Conceptual Framework Discuss about the Woodside Petroleum Objectives of GPFR. Based on the current corporate scenario, adherence to the objectives of GPFR and compliance with conceptual framework of  is vital to thrive in the market. This is because it facilitates effective decision-making on the part of users, thereby enhancing the reputation and goodwill of companies. Moreover, adherence to conceptual framework also...

Core competence a business analyst should haveDiscuss about the Business Change Solutions And Business Needs. Synopsis: Business analysis has the potential to provide great benefits to business by ensuring that there is alignment between business change solutions and business needs. There are many potential for organizations to improve their information system that can offer competitive advantages but in reality, often it is out of reac...

Critical Evaluation of Practices of CBA and Financial DecisionsDiscuss about the Accounting and Finance for Commonwealth Bank. The current study elucidates in detail about ethics and corporate social responsibility that refer to accountability of a corporation for the impacts of its decisions on society with reference to the operations of the firm CommInsue. CommInsue is the insurance arm of the firm Commonwealth Bank of Australia t...