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    Question 1 Audit Reports Part A This part requires you to explain the main requirements of ASA700 Forming an Opinion and Reporting on a Financial Report and to outline the different types of audit

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    Question 1 Audit Reports Part A This part requires you to explain the main requirements of ASA700 Forming an Opinion and Reporting on a Financial Report and to outline the different types of audit opinions that may be provided in the Auditors Report and the circumstances leading to the expression of the different types of Audit Opinions Part B This part requires you to consider the following situations and state which type of Audit Opinion you would offer in each providing a reason/explanation for each one.Assume that any weaknesses are material. (a)The Connor Company has been hav...

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    The main requirement of ASA 700 have been aimed to address the appropriate balance in between the need for the consistency as well as comparability in the reporting of the auditor and  the requirement to incease the auditor’s reporting value through making the provided information in the report of the auditor relevant for the user of particular financial stement.  This standard of auditing also promotes consistency in regard to the auditor report but also

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

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