ACCT 3005 : Auditing Theory and Practice : Key Events and Impact of Au
Answer:
Key Events and Impact of Audit
The key events which can have an impact on the audit of the business of BHP group are listed below in details:
- Dividend Announcement: The management of the company has announced to pay a dividend of 63 US cent per share for the year which is well above the payout policy of the business. This can affect the audit process as the auditor needs to verify whether the financial statements are showing accurate view of dividends and whether the accounting regulations are followed or not.
- Agreement with Guyana Goldfields Ltd: The management of the company has entered into an agreement with Guyana Goldfields ltd for acquiring 6.1% share holdings in SolGold Plc which can help the business in acquiring the appropriate quality of copper exploration projects from Ecuador(BHP. 2018). The auditor needs to check the investments which are made by the business.
- Multi-Currency Bond Repurchase Program: The management of BHP has launched a multicurrency repurchase program which will be targeting and affected the liquidity position of the business and therefore, the auditor needs to analyze the same and ensure that the same are showing true and fair view.
- Contingent Liabilities:The contingent liabilities of the business are shown in the financial results of the company and the business faces certain liability claims. The business in relation to its establishment of BHP Billiton Brasil is facing a public claim which is of $ 20 billion for the clean up costs and damages of the business (Bova 2016). In addition to this, the management also faces Federal Public Prosecution Office claim which is also of a significant amount and the auditor needs to consider the liabilities and how the same can affect the profitability of the business.
Reference:
BHP. 2018. BHP | Investor centre. [online] Available at: https://www.bhp.com/investor-centre [Accessed 17 Sep. 2018].
Bova, M.E., 2016. The Fiscal Costs of Contingent Liabilities. International Monetary Fund.
Buy ACCT 3005 : Auditing Theory and Practice : Key Events and Impact of Au Answers Online
Talk to our expert to get the help with ACCT 3005 : Auditing Theory and Practice : Key Events and Impact of Au Answers to complete your assessment on time and boost your grades now
The main aim/motive of the management assignment help services is to get connect with a greater number of students, and effectively help, and support them in getting completing their assignments the students also get find this a wonderful opportunity where they could effectively learn more about their topics, as the experts also have the best team members with them in which all the members effectively support each other to get complete their diploma assignments. They complete the assessments of the students in an appropriate manner and deliver them back to the students before the due date of the assignment so that the students could timely submit this, and can score higher marks. The experts of the assignment help services at urgenthomework.com are so much skilled, capable, talented, and experienced in their field of programming homework help writing assignments, so, for this, they can effectively write the best economics assignment help services.
