Your group has been appointed as external auditors of the telstra company for the financial report. You are required to design an audit program for this company. Your audit program steps should be clearly written in sequential order, that is, steps that must be conducted before the remaining steps. Please indicate in your report all pieces of information you refer too.

using the sub topics below and other financial reports or documents of telstra to derive information - design an audit program for telstra

. Engagement Planning and Objective:

• Explain the objectives of the audit engagement.
• Describe the planning process, including risk assessment and resource allocation.

6. Risk Assessment and Materiality:

• Discuss the significant risks identified during the risk assessment.
• Explain the determination of materiality thresholds and their relevance.

7. Internal Control Evaluation:

• Detail the evaluation of the company's internal controls.
• Describe the design and operating effectiveness testing.

8. Substantive Procedures and Audit Evidence:

• Explain the application of substantive procedures.
• Describe the types of evidence gathered and their significance.

9. Evaluation of Account Balances and Transactions:

• Discuss the assessment of account balances, transactions, and disclosures.
• Highlight the steps taken to ensure completeness and accuracy.

10. Conclusion and Audit Opinion:

• State the overall conclusion of the audit.
• Provide the audit opinion, addressing the fairness of the financial statements.

11. Management Representation:

• Detail the management representation letter provided by the company.
• Explain its significance in relation to the audit process.

12. Communication of Findings:

• Describe the communication of findings to the company's management and audit committee.
• Address any significant risks or concerns identified during the audit.

13. Audit Report Issuance:

• Explain the finalization process of the audit report.
• Mention the issuance of the audit report to the client.

14. Recommendations and Next Steps:

• Provide any recommendations for improvements or corrective actions.
• Outline potential next steps based on the audit results.