Storyboard Text
- RMM is negatively correlated with detection risk.
- Demand 〉Supply
- Yixiao assesses the inherent risk as LOW because Agriculture Group's earnings are good, its operating profit was up 15% from the previous year, and customers' demand for its products was not reduced by the impact of the covid-19.
- Jiaman assesses the detection risk as HIGH. She referred to the previous assessments of CR as medium and IR as low. Therefore, the RMM is assessed as medium and the DR was known to be negatively correlated with it. So, she obtained the above assessment of the DR.
- The value of pastoral property accounted for 57% of total assets in FY22.
- Shuo assesses the going-concern risk as LOW because the market demand for the organization's agricultural products is increasing and the demand is greater than the supply in this market. So, Agriculture Group has good business prospects.
- Yifan reports to Shuo on the planning materiality. She considers the agricultural group is a large and profitable organization with stable profit growth. So, profit before tax can be used as a suitable base.
- Lu reports to the team that pastoral property is a significant account.In FY22, the value of pastoral properties accounted for 57% of the company's total assets, and such accounts are a major component of the company's assets.
- Agriculture Group talks to Shuo on the phone and informs him that it has disposed of a significant subsidiary. This resulted in a change in the profit before tax in its consolidated income statement. As a result, the value of materiality changes.
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