Students are required to select one company from ASX 200. You need to download your chosen company’s latest financial report. Your report must address the following:

1. Provide a brief summary of your chosen company’s key operations
2. Identify at least TWO key audit matters (a useful starting point will be the auditor’s report)
3. Discuss how these audit matters related to financial reporting issues that involve significant management judgment
4. Discuss how these audit matters affect the audit risk i..e, increase or decrease the audit risk and why. It will be useful if you relate your discussion to the audit risk model.
5. Discuss the potential responses to these audit matters. In this part, you need to discuss how you, as an auditor, formulate your own audit strategy, i.e., control reliance or predominant substantive approach or a mix of both.