CPA Advanced Auditing case studies
CPA Advanced Auditing · Put your knowledge to work in context.
Advanced Auditing and Assurance is a segment of the CPA Program, the qualification pathway offered by CPA Australia, a professional accounting body. The CPA Program is described on the body's own site as being made up of four compulsory subjects and two electives, with Advanced Auditing and Assurance sitting among the segment offerings listed under study and exams. The CPA Advanced Auditing case studies are 5 cases and about 4,522 words.
1Group audit: restricted access to a significant component auditor
Harlow Industrial Group is a listed manufacturer with 14 components. Your firm is the group auditor for the year ended 31 December 2025.
966 words, about 5 min2Revenue recognition: side agreements, reseller channel and a whistleblower
Vantrell Software plc, a listed SaaS provider with a 31 December year end, reported Q4 revenue of 46m, 42% of the 110m annual total (prior year Q4: 28%). Twelve contracts totalling 9.8m were signed between 18 and 31 December, several on a non-standard template containing cancellation for convenience or acceptance clauses.
851 words, about 4 min3Going concern: covenant breach, a short waiver and a stale forecast
Brantwood Care Homes Ltd operates 22 care homes and has a 31 March 2025 year end; the audit report is due 25 June 2025. At year end, net current liabilities were 8.2m and EBITDA was 3.6m against a 4.0m covenant on a 15m term loan, so the covenant was breached.
936 words, about 5 min4Impairment of an indefinite-life intangible: two specialists and a four-day deadline
Arden Biotech plc, a listed drug developer with a 31 December 2025 year end, carries an indefinite-life IPR&D intangible of 140m that is subject to an annual impairment test. Management's valuation specialist produced a discounted cash flow model using a 9.5% discount rate, 4.5% terminal growth and probability-weighted peak sales of 900m.
892 words, about 4 min5Independence: long association, outsourced internal audit and fee dependency
audits Trelawney Holdings, a listed group. The audit fee is 1.2m and the firm's total revenue is 18m.
877 words, about 4 min