You are planning the audit of Tirthe Ltd for the year ended 30 June 2020, discuss the issues to be considered in your audit planning from the information contained in the income statements. Hint: you should calculate ratios and conduct trend analysis in order to identify the unusual trends and relationship and discuss the issues to be considered in your audit planning.

30 June 2020 (draft) 30 June 2019 (actual) Revenue Cost of sales 536 994 (322 187) 214 807 617140 (302 788) 314352 7186 Gross profit Other income Operating expenses Administration Selling and distribution Finance costs Profit/(loss) before tax (95 438) (50 575) (7 434) 61 360 (92 064) (79933) (7 623) 141 918