Reference no: EM131034633 , Length: word count:2000
You and your colleague are required to prepare a preliminary client evaluation report to the senior partners of your auditing firm. This report will be used to determine whether or not the auditing firm should consider tendering for the audit of a well-known bank. Client evaluation includes: identifying risks; assessing competence to perform an audit; and other ethical and legal considerations. Audit firms undertaking bank audits must also comply with a number of additional regulatory requirements. Assuming that the audit for ANZ Bank (Australia and New Zealand Banking Group Limited) will be coming up for tender, you are required to prepare a report based on your research. This requires extensive research and critical analysis of the annual report and any other information available to present to the senior partners.
The ANZ Bank Annual Report 2015 is available at: https://www.shareholder.anz.com/sites/default/files/2015_annual_report.pdf
In your report please identify and discuss the following:
1. The steps involved in client acceptance.
• Briefly describe the process in assessing a new client
2. The specific banking audit requirements.
• Describe in detail five (5) specific banking audit requirements.
• Explain which standards and/or regulations need to be followed.
3. Client risk assessment.
• Describe in detail four (4) specific business/audit risks for a banking client.
4. The areas of concern.
• Using the ANZ Bank 2015 Annual report identify and describe (8) accounting/auditing matters that may be of concern.
• Explain why you have identified these particular matters.
5. The limitations of your report.
• Is there any other information you require but do not have access to?
6. Conclusion
• What would you recommend to the partners? Why?
|
Significant impact on the members of the project team
: Project closing can have a significant impact on the members of the project team. Describe the approach you would take to address the needs of your team members during this difficult period in the life of the project.
|
|
What is the national labor relations act
: What is the National Labor Relations Act (NLRA)? What is protected, and what practices have been deemed unfair by amendments to the NLRA? Who enforces the NLRA, and how?
|
|
How many nonbonding electron pairs are in the molecule
: Draw the electron dot formula for The molecule of CHCl3. How many nonbonding electron pairs and bonding electron pairs are in the molecule of CHCl3?
|
|
Organisation perceives room for market growth
: You want to establish goodwill, but also recognise that, being an outsider, you and your company may not be welcomed with open arms by the local business community. Your company produces a product and provides a service (feel free to choose; a cof..
|
|
Briefly describe the process in assessing a new client
: In your report please identify and discuss the following: The steps involved in client acceptance. Briefly describe the process in assessing a new client
|
|
How strong vertical field is required to keep to the droolet
: a water droplet 10-2cm diameter caries a negative charge such that electric field at its surface is 60000v/m how strong vertical field is required to keep to the droolet from falling
|
|
Relative to the current social and cultural climate
: Imagine that you are Woodrow Wilson visiting the White House today. Compose a list of five (5) flaws that Wilson might identify, based on his perception of a so-called “good” public administration. Debate whether your listed flaws are likely real, pe..
|
|
In what direction he should move
: A man on the West Bank of river is capable of swimming at 10 meter/Minutes in still water, wants to take shortest time . In what direction he should move?
|
|
Accounting-marketing-finance-research and development
: Which functional area (Accounting, Marketing, Finance, Research and Development, Operations, Human Resources, I.T., etc. is most important in the long run success of the firm? Defend your answer.
|