You are expected to demonstrate their ability to critically evaluate information relating to Bega Cheese and apply analytical skills to identify potential audit risks. This will require extensive research on Bega Cheeses operations, strategies, critical analysis of the annual report and any other information that you have obtained.Word limit is 1500.

4. Recently Bega Cheese acquired the Vegemite and other Kraft brands in a $460 million deal that takes it far from its roots as a cheese producer. How will this acquisition affect your 201? audit plan for Bega Cheese? Your answer should be supported by at least FIVE factors. [10 marks] 5. In early 2016, Bega Cheese and Blackmores set up their joint venture- called Bemore- to supply infant formula and other nutritional foods to consumers in Australia and Asia (mainly China). However, due to regulatory change in China and intense competition the joint venture did not go as well as initially hoped. As a result, there was a dramatic fall in the share price of Bega Cheese. How will this fall affect your 2017' audit plan for Bega Cheese? Your answer should be supported by at least FIVE factors. [10 marks]