Select a listed public company from the ASX$200($Preferably Australian$)$ and identify the major audit risk areas $($at least $2)$ for your selected company.

For each audit risk, your assignment should:

$$ explain the potential impact of the audit risk on the company's financial statements and

$$ detail the auditing procedures to verify the account balances impacted by the risk.

you are the independent or external auditors of the company and your 'job' is to express an opinion on the truth and fairness of the accounts. Some business risks are material and relevant to the external audit but others e$.$g$.$ shoplifting in a retail environment whilst important $($to the business$)$ would not be material from an external audit perspective.

Remember to link the risks back to the account balances you are expressing an opinion on$.$

You are expected to conduct extensive research in completing this assignment and to clearly display the results of your research in the presentation of your paper. You should not just restate theory from auditing textbooks. Research should look at the actual ASX$200$ listed company selected along with $($potentially$)$ its competitors, industry, economic environment$/$outlook$,$ market etc.

The report should have appropriate headings and subheadings.

In your report include references to other websites and articles.

Ensure you have an appropriate Executive Summary.

Please do not use AI to generate your answers.