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3 Found helpful 15 Pages Essays / Projects Year: Pre-2021

Harvey Norman Holdings Ltd (ASX: HVN) ACCT3708 - Auditing & Assurance Services Major Assignment Harvey Norman Holdings Ltd. (HN) is the well-established company behind consumer electronics retailer Harvey Norman, with operations spanning across greater Australia and also growing in the international market with 69 stores and multiple subsidiaries within the corporation’s umbrella. The success of the company cannot be attributed solely from its retail services as it also raises revenue from property, plant and equipment (PPE), finance leases and franchise establishment. This report is aimed at assessing the integrity of the financial statements that HN publishes to critically examine the controls and methodology of recording their revenues, expenses and related financial. As the audit team we shall address what are the methods of recognising revenue and strategically analyse the business environment investigating the political, economic, social and technical influences that have significant impacts to the company. The report shall address critical audit risks that may materially misstate the financial statements and analyse such risks against accounting assertions under relevant sections of the Australian Accounting Standards Board (AASB) standards


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