Research MYER (Australian department store chain) to gain an understanding of MYER. You can use Internet research (e.g. business and financial media articles), IBIS World Industry Reports and the other information in the annual reports. It is essential to reference all sources with in-text referencing and a reference list. you will also need to access MYER's Annual Reports 2017 & 2019 (for financial data and entity information) to answer the following question as an Auditor:

1/ Discuss the risk of fraud in the audit of MYER?

2/ Identify five significant inherent risks for MYER at the assertion level. For each of these risks, explain which key account(s) are at risk of misstatement, the key assertion(s) at risk for each account, and briefly explain why these accounts/assertions are affected

3/ Begin designing the audit program (5 marks)

• Describe the areas of the audit for MYER where you may wish to use external confirmations. (2 marks)
• Describe the areas of the audit for MYER where you may wish to use the work of an expert (3 marks)

References

• MYER's annual report 2019 https://investor.myer.com.au/FormBuilder/_Resource/_module/dGngnzELxUikQxL5gb1cgA/file/Myer_Annual_Report_2019.pdf#:~:text=The%202019%20Myer%20Annual%20Report%20reflects%20the%20Company%E2%80%99s,our%20retail%20and%20store%20support%20operations%20in%20Australia.
• MYER's annual report 2017 https://investor.myer.com.au/FormBuilder/_Resource/_module/dGngnzELxUikQxL5gb1cgA/file/Myer_Annual_Report_2017.pdf#:~:text=The%202017%20Myer%20Annual%20Report%20reflects%20the%20company%E2%80%99s,customers%2C%20suppliers%2C%20team%20members%2C%20and%20the%20wider%20community.