altuim Auditing & Assurance Service

This report is presented as an analysis of “audit” part of annual report of Altium Ltd. for the current year i.e. 2020.

2.0 Problem Statement

In order to investigate and report on the “true and fair” status of the financial statement of Altium Ltd.’s for the year ended 2020, special focus will be made on “Key Audit Matters” by the company’s Auditor. The auditor’s report will be analyzed using risk-based auditing approach and auditing concepts based on Auditing Standards like ASA 315, ASA 320, ASA 330, ASA 560, ASA 570. ASA 700, ASA 705, ASA 706 and APES 110. As mentioned in the financial report 2020, the auditor of Altium Ltd. is PricewaterhouseCoopers with its headquarters in Barangaroo NSW, Australia.

The analysis will be conducted based on detailed financial and non-financial information presented in the current annual report. The Key Audit Matters area will be scrutinized for understanding the key business operations and auditor’s concerns on the company’s financial statement’s truth and fairness. The aim is to ensure that the impact of business risk, corporate governance, ethics, control risks, whistle-blowing, internal control, reporting to agencies, auditor’s negligence, auditor’s independence, accounting policies and fraud are considered and analyzed in detail while forming an opinion by the auditors on the firm’s financial statement.