Contents

• Executive summary
• Introduction
• Audit plan
• Our understanding of the organisation and industry
• Our assessment of the business risk
• Our preliminary analytical procedures
• Our judgments of materiality level, audit risk and inherent risk
• Our assessment of internal control and control risks
• Our assessment of fraud risk
• Our audit program for 5 key account balances
• Conclusion
• References

Description

This document contains the audit strategy developed by us for conducting the audit of Energy Australia Limited for the financial year ended June 30, 2010 in accordance with Australian Auditing Standards.
It serves as the basis for performing the audit of financial statements and provides us the familiarity with the organization, its operations, internal controls exercised by the management and key risks involved in the business operations.
Based on the audit plan, we carry out our work for auditing the financial statements to provide reasonable assurance to users that financial statements of the entity represents a true and fair view of the entity’s affairs and are free from any material misstatement