CPA Australia Advanced Audit and Assurance case studies
CPA Australia Advanced Audit and Assurance · Put your knowledge to work in context.
Advanced Audit and Assurance is a subject within the CPA Program, the qualification pathway that leads to CPA status with CPA Australia. The CPA Program is made up of four compulsory subjects and two electives, and Advanced Audit and Assurance sits in the assurance stream for candidates who want to build on core audit knowledge and apply it to more complex engagements and professional judgement scenarios. The CPA Australia Advanced Audit and Assurance case studies are 5 cases and about 3,329 words.
1Group audit scoping and a component auditor with restricted access
Your firm audits the consolidated financial statements of Kestrel Industrial Group Ltd, a listed manufacturer with revenue of 480 million and total assets of 610 million. Group materiality is 4.8 million.
716 words, about 4 min2Going concern, an uncommitted bank letter and inadequate disclosure
Riverbend Care Group Ltd operates 14 aged-care facilities and is listed on the ASX. At 30 June 20X5 the group reports revenue of 310 million, a net loss of 22 million and net current liabilities of 38 million.
541 words, about 3 min3Revenue cut-off, side letters and bill-and-hold arrangements
Coastal Commerce Ltd is an ASX-listed online retailer with a 31 December year end and revenue of 265 million. On 29 December 20X4 it shipped 8.4 million of goods (cost 5.9 million) to its largest distributor.
670 words, about 3 min4Fair value of investment property and a subsequent comparable sale
Lattice Property Trust is a listed trust with investment property of 1.42 billion measured at fair value. At 31 December 20X5 management's independent valuer values the portfolio using a capitalisation approach, with capitalisation rates of 4.75%-5.40% and market rents.
696 words, about 3 min5Independence, non-assurance services and fee dependency
Your firm has audited Falcon Energy Ltd, a listed oil and gas producer, since 20X1. Engagement partner Priya has held the role for seven years; firm policy requires rotation after seven years for listed clients.
706 words, about 4 min