ASA 700s on compliances and usefulness of audit reports
AUDITING WORD COUNT: 2500 REFERENCE: 15-20 REFERENCE STYLE: HARVARD Context This assessment requires to examine real-world case studies to evaluate reporting standards and determine whether appropriate audit opinion has been expressed under different circumstances and decide the appropriate treatment for subsequent events. This assessment requires student to download the last annual reports of two ASX delisted companies’ annual report (Billabong International Limited and Fantastic Holdings Limited) of year 2018 and 2019. Both above-mentioned companies have been signed off by their external auditors without qualification of the pending business status (delisted). There are differences in the amount of information published in the auditor’s report since BBG was audited by one of the Big Four accounting firm while FAN was audited by a non-Big Four accounting firm. Structure Each student is to investigate the following ASX listed entities and answer the questions in the...