Part A:

Review the audited annual report (2020) including financial statements presented to the shareholders for your respective company and answer the questions below:

1) Conduct an analytical review on the financial statements of The Webjet Ltd in the planning phase and identify areas of concern and how relevant accounts and assertions are impacted. Justify your answer. All calculations should be included as an appendix to the written report.

2) You are now required to formulate the relevant audit procedures to respond to the areas of concern identified in Part (1)

Part B:

In relation to corporate governance, research and justify your answer to the following questions:

Does your company have any process relating to corporate governance? Under which section of the annual report would you expect to find information on it?

2) Does your company have an audit committee and does the audit committee have the correct composition?

3) In your opinion, are audit committees of benefit to the auditor, the company, the auditing profession and/or society as a whole? Why or why not?