ACC304 Taxation Law Project-IAG group and its environment

ACC304 Taxation Law Project-IAG group and its environment


In your report, you must address the following issues:
1. What are the areas in which IAG conducts its operations?

2. What are the Four primary competitors of the firm?

3. Which particular laws/regulations (other than financial related categories which include legislation such as: Australian taxation laws, Corporation Act 2001 etc.) affect IAG’s operations? You need to identify and describe at least FOUR laws/regulations.

4. Identify and explain FOUR business risks that could have impact on the audit of IAG.

5. Based on your business risk analysis and understanding of IAG group and its environment, list and explain FOUR accounts to be at risk of material misstatements. You also need to identify the key assertion at risk for each identified account.

6. Based on 2020 IAG annual report and information available on the company’s website, can you conclude that IAG complies with Principle 4 of the ASX Corporate Governance Council’s corporate governance principles and recommendations? Explain.

7. Based on your understanding of the client and assessment of the client’s business and audit risks, would you undertake the audit? Why? 

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