Financial Reporting Assignment: Analysis On Financial Performance Of Dominos

Task: Financial Reporting Assignment Task: Part A: Analytical Procedure Obtain a copy of a recent annual report (2019) from ASX Top 300 listed companies list (most companies make their annual reports available on their website). Perform analytical procedures of the Statement of Financial Position and of Financial Performance over the two years (2018 and 2019) using appropriate ratios and/or metrics. Required: Measure and discuss income statement, balance sheet and cash flow ratios from your selected company and How does this affect your assessment of materiality, detection risk and overall audit Risk? Provide a brief explanation in the report. This should be presented in a table format. Part B: Audit Committee Effectiveness “Audit committees do not prepare financial reports, nor do they conduct audits. But they have an essential role to play in ensuring the integrity and transparency of corporate reporting”. Explain this statement? Who should be members of the Audit Committee? Is there an association between Audit committee effectiveness and audit quality after IFRS adoption? Explain your selected company’s (same selected company from part A) and prepare the following responses about the application of audit committee effectiveness recommended by ASX Corporate Governance Council (CGC) principles using Corporate Governance Principles and Recommendations (4th Edition) was released on 27 February 2019? Members of the audit committee meet all applicable independence requirements. The audit committee demonstrates appropriate industry knowledge and includes a diversity of experiences and backgrounds. Audit committee members have the appropriate qualifications to meet the objectives of the audit committee‘s charter, including appropriate financial literacy. Discuss about audit committee size and members profile. Discuss about meeting arranged by audit committee chairman and whether member participates actively? The audit committee monitors compliance with corporate governance regulations and guidelines.

Subject Name: Finance

Level: Undergraduate

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