Sydney Airport (SYD) has been making losses for this year due to the drop of 90% revenue growth, however, on Tuesday 11th August 2020, SYD announced that it would raise $2 billion in new equity by announcing a 1 for 5.15 pro rata accelerated renounceable offer of new stapled securities (New Securities) at an issue price of $4.56 (Offer Price) per New Security.

How will this transaction affect any audit plan for SYD if we were needed to

(i) test on the assertion of equity raise to the changes in equity statement?

(ii) analyze the accuracy, valuation & allocation of foreign exchange effect from the equity raising

(iii) prepare the disclosures for the obligation and justification on equity raise