1) Based on an ASX listed company (name to be provided) (800 +/- 10%)

- A2 Milk Company Ltd (ASX Code: A2M)

- A2M's 2022 annual report: https://assets-au-01.kc-usercontent.com/bca3e5d5-83bd-02bf-1c27-acb036630e5b/b18cc788-8606-4239-9101-b89a79180114/FY22%20Annual%20Report%20-%20FINAL.pdf

- A2M from the company website at this : a2milk.com.au

a) Identify 2 business risks of The Company, that will increase the risk of material misstatement (specifically inherent risk) at the assertion level for classes of transactions or account balances. For each business risk, identify only 1 class of transaction or account balance (income statement or balance sheet line item), and for each class of transaction/account balance please identify the assertion most (only one) at risk of misstatement. You need to explain why each business risk will lead to a risk of misstatement to the specific class of transaction/account balance and assertion that you have identified.

b) Describe in detail, the appropriate substantive procedure that will address each of the class of transaction/account balance and assertion identified as at risk of material misstatement. The description of procedures must be detailed enough for a junior auditor to be able to carry out the procedures correctly.

2) "Digital technologies .......... will boost productivity, create jobs .......... and grow the businesses and sectors of tomorrow. We are using technology such as drones, robotics, 3D printing and blockchain now. By 2030 we would expect to see breakthroughs in emerging technologies that .......... are likely to include artificial intelligence (AI), quantum computing, nanotechnology, cognitive science, energy capture and storage, more connected devices through increased penetration of the Internet of Things (IoT), and the further advancement of existing technologies with undeveloped potential." (Department of Prime Minister and Cabinet, Australian Government).

The above statement with regards to the "Australian Digital Economy" identifies several emerging technologies that is already impacting or is expected to impact businesses. Likewise, emerging technologies has and will continue to have a major impact on audit procedures and the way auditors carry out an audit.

- Required to carry out research on these three emerging technologies: Data Analytics, Drone Technology and Distributed Ledger Technology; and discuss how each of these has already impacted and is expected to impact in the future; audit procedures and the way auditors carry out an audit. (1,000 +/- 10%).