Project Summary: Task Summary Students are required to work in the group with maximum of three members. The assessment is designed to assess the subject learning outcomes above including students’ ability to research audit related issues and apply their knowledge to real cases. Students are expected to develop a professional report addressing tasks within following areas: i. Inheret risk identification ii. Audit procedures in response to inherent risks identified iii. Analytical review of the financial statemets with the purpose of identifying areas of concern or comfort iv. Susbtantive audit procedures addressing the identified risks v. Audit report, its basis and legal issues