auditing assignment

• Blackmores Limited (ASX: BKL) The date is 30 September 2013. You have recently attended the Company’s Annual General Meeting in which you have been appointed as the Company’s auditors, effective for the financial year ended 30 June 2014. You are aware that the previous auditors have resigned due to the fact that they are also the auditors of a major competitor of the Company and, in order to protect their independence, they have decided to discontinue as auditors of the Company. You have held meetings with the previous auditors, who have assured you that there are no other reasons for their resigning their position and that they are not aware of any reasons why you should not accept the audit appointment at this stage. You have also seen confirmation from ASIC that the resignation of the previous auditors has been accepted. Based on this, and having established that you have the required resources and technical ability to act as the auditor, and that your independence (both actual and perceived) will not be compromised in any way by this appointment, you have decided that you will accept the appointment. This project will address the following aspects of your planned acceptance of the appointment: PART B: Undertaking preliminary planning and risk assessment work for the Company’s audit. REQUIREMENTS TO COMPLETE THIS PROJECT: You are required to access the financial statements/annual report for the Company, for the 2012 and 2013 financial years together with relevant half-yearly financial reports) in order to complete this project. In addition to the annual and half-yearly reports, you are also required to source additional information about the Company. Be aware that the Company’s 2013 Annual Report will probably only become available toward the end of August 2013. However, much of the work for this project can (and should) be completed based on information other than that included in the 2013 Annual Report, and updated when this becomes available. The annual report and other information about the Company is available on their web site. Alternatively, you can access the annual report through the ASX website. Note: In addition to the annual reports, you will find a lot of other information on the Company’s the web site which will be of use to you in completing this project.