Can I get help with this assessment 1 attached Thanks

Question 1 Assessment task Auditing Standard ASA315 Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment says: \"Internal control means the process designed, implemented and maintained by those charged with governance, management and other personnel to provide reasonable assurance about the achievement of an entity's objectives with regard to reliability of financial reporting, effectiveness and efficiency of operations, and compliance with applicable laws and regulations. The term \"controls\" refers to any aspects of one or more of the components of internal control.\" (a) Identify and briefly explain the key aspects or principles of internal control and auditing. (b) What are the differences in the main objectives of internal controls and internal auditing? Your answer should include a brief discussion of the five interrelated components of an internal control systems, the five primary recording objectives of an accounting system, and identify the six factors the auditor should consider when deciding which internal controls should be assessed as part of an audit. (Note: For each of the components, objectives and factors in above mentioned task, a brief description of each is required). Question 2 Describe the key requirements of organisational policy and procedures relating to: Corporate governance, and, Financial delegations and accountability. In your answer also explain the benefits of a sound corporate governance policy. Question 3 Assessment task It has been said that \"a fundamental feature of a sound system of internal control is that no single individual should be able to handle all the phases of a transaction from the very beginning to its final inclusion on the accounts.\" (Leeson, Di Sisto, & Flanders, 2010, Internal Controls and Corporate Governance, 3rd edn., Pearson Australia, Frenchs Forest NSW, p. 38). 1. List the four (4) major functions or responsibilities which should be segregated as part of the internal control function. Provide a brief explanation of each including a brief example of why it is important they be segregated Question 4 Discuss ethical considerations and confidentiality requirements for the management and handling of files and records, in particular audit work papers. Are there any issues that need to be in concern when accessing and handling audit work papers? Why is it so important to maintain client confidentiality when handling audit work papers? Question 5 Assessment task Explain why is it so important that the internal auditor must be aware of taxation and other legislation affecting the processing and reporting of transactions? Identify and explain the key features of financial and other legislation relating to taxable transactions and reporting requirements. In your answer refer specifically to at least five pieces of Federal or State-based legislation. (Note: When you quote any piece of relevant legislation a brief description of the legislation quoted is required. For example: one of the relevant legislation is the Corporation Act 2001, you may say that the Corporation Act is the principal legislation regulating companies in Australia. It regulate matters such as the formation and operation of companies, duties of officers, takeovers and fundraising. Also the Corporation Act requires the compliance with Australian Accounting Standards (AASB). The best place to look for the required information is from the ATO website or do a Google search over the internet