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Audit Risk

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DETAILS OF ASSIGNMENT: Review the audited annual reports including financial statements presented to the shareholders in respect of the company noted below and answer the questions. Please note that if the web-link fails to open you may need to “right click” on it and use “open hyperlink” to access it. Qantas Ltd – 30 June 2015 https://www.qantas.com.au/infodetail/about/investors/2015AnnualReport.pdf Questions to be answered by the team or group: Assume that your audit team is responsible for planning the audits for Qantas Ltd for the year ended 30 June 2015. Discuss your strategies in relation to the questions noted below – 1. (A). Identify at least three (3) inherent risks that you would have considered for the company in the audit planning phase and justify your answer. (B). What audit procedures and/or tasks would you have planned to carry out in response to the inherent risks identified by you in (A) above? See the required format for your answers below