Question
Using the Inherent Risk Factors listed below, identify four (4) inherent risks that could have an impact on the audit of Lendlease Company (LLC) for
Using the Inherent Risk Factors listed below, identify four (4) inherent risks that could have an impact on the audit of Lendlease Company (LLC) for the reporting period ending 30thJune 2022 (which could cause material misstatement)
- Complexity
- Subjectivity
- Change
- Uncertainty
The events related to Lendlease Company (LLC) have to represent specific examples of the 4 inherent risk factors that could cause material misstatements in the financial report.
> What was the issue/event that occurred during 1 July 2021 to 30 June 2022?
> How is it risk for the Lendlease Company?
For example:
issue/events : struggle with supply chain managment due to Covid
Covid affected the industry because --------------
------------
----------------
Why is it a risk(potential misstatement)?
is it asset? liability? revenue? expense? capital? inventory?
what account is it affecting?
do we have to recognise and disclose it in the financial report? etc
P.S. The four events can be found on the annual report of the company or on their official website in the news feed section.
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