Obtain a set of recently audited financial reports published in Australia.

Required

a. Describe the factors that might have considered by the auditor in determining the overall materiality of the financial report as a whole.

b. Identify an asset item and describe the audit evidence and audit objectives that are to be employed by the auditor to ascertain the fairness of its value stated in the financial report.

c. Discuss what type of audit judgement you used and why.