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Audit Plan About Commonwealth Bank of Australia

Autor:   •  March 8, 2011  •  Research Paper  •  2,645 Words (11 Pages)  •  2,102 Views

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Audit plan about Commonwealth Bank of Australia

Executive summary

The last 20 years in the 20th century witnessed rapid development of the breaking industry and frequent outbreaks of financial and banking crises.With increasing development of market economy, competition in the banking sector is becoming fiercer and fiercer, and possibility of banking crisis is increased. Internal audit as an important part of internal audit management system of bank is of great significance for the realization of all business objectives in bank.The 2008 financial year has been a challenging one for the global financial services sector. In this environment, the Commonwealth Bank of Australia has performed well, delivering solid profit growth and another record dividend. This report will give the certain appropriate discussion to the case of bank and give some suggestions and recommendations to the bank's future development. We plan the audit for the bank. Firstly, we can introduce an understanding of the Commonwealth Bank of Australia and its environment. Then, make preliminary judgment about materiality levels and do some audit risk analysis. Last, we can make preliminary audit strategies for significant assertions. For the banks, do the audit plan is very important. It can help banks in the whole environment of the economic crisis in an invincible position. This is a very meaningful one thing for the Commonwealth Bank of Australia.

Introduction

The 20th century, the last 20 years the banking industry's fastest-growing period is also a financial crisis and banking crisis, the most frequent period. According to the International Monetary Fund (IMF) statistics, since 1980, as many as 130 countries and regions, the banking sector has experienced serious problems. It includes both developed countries, but also developing countries and economies in transition. It can be said that the vulnerability of the banking sector and banking crisis in the context of globalization has become a big problem. First, they should be to strengthen its ability to resist risks. The strengthening of internal audit risk assessment based on this kind of capability to enhance the bank's business goals is of great significance.

The last 20 years in the 20th century witnessed rapid development of the breaking industry and frequent outbreaks of financial and banking crises.Along with the deepening of China's opening up and economic and financial reforms,as well as increasing development of market economy, competition in the banking sector is becoming fiercer and fiercer, and possibility of banking crisis is increased. It can be said that the vulnerability of banking industry and potential banking crisis have become a major issue in the process of globalization.To realize the sustained and healthy development of China's commercial banks,we

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