The Singapore Exchange website is a very good source of information on public companies listed in Singapore. The companies listed on the bourse are not only from Singapore but from various countries around the world such as Australia, Japan and the Peoples Republic of China. Every company listed on the bourse must publish annual reports, business review reports, disclosure reports and interim reports among others on the website.

a. Use the following url http://www.sgx.com/wps/portal/sgxweb/home/company_ disclosure/annual_financial to find the announcement of Annual Report for Macquarie Bank Limited for the period ended 31 March 2015. A URL is given on the announcement for you to download the Annual Report. (Conversely you could download the Annual Report at http://static.macquarie.com/dafiles/Internet/ mgl/global/shared/about/investors/results/2015/Macquarie_Bank_FY15_Annual_ Report.PDF) Then answer the following questions.

1. Who was Macqurie Banks auditor for that period?

2. Which accounting standards must the auditor certify the financial reports comply with?

3. What is the main responsibility of the auditor to the company?

4. What is involved in the audit of the bank?

5. When was the audit completed?

b. As Macquarie Bank Limited is a company incorporated in Australia, let us learn more about auditing standards in Australia. Visit http://www.auasb.gov.au/ Pronouncements/Australian-Auditing-Standards.aspx to find the Auditing Standards Made Under Section 336 of the Corporations Act 2001 of Australia.

1. Which standard is relevant when dealing with the issue of Going Concern?

2. Where would the overall objectives of the independent auditor be spelt out?

3. In the standard that you have identified in 2, identify the types of financial reports that would come under this standard.