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Executive Summary
Over the period of time Auditing process has changed and transformed, and now it is more
transparent in terms of functionality. With the help of this report we will understand the key
aspects of the new enhanced auditing process and how it has made the auditing process more
concise and accurate. With the steps like, Independence declaration, where auditor declares
that there work is not interrupted in any way. It also explains the amount of remuneration
auditors are being paid and what is the difference to previous years. Then there are key audit
matters which explain the issues which need the special attention of the auditors. Information
about the Audit committee is also an important part of the Enhanced auditor reporting process.
The auditor report starts with the opinion of the auditor to explain if they are satisfied with the
Auditing process of the company or not. This complete enhance reporting system has made the
Auditing system more transparent and organizational friendly to avoid any possible scandal.

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Contents
Executive Summary ....................................................................................................................................... 1
Introduction .................................................................................................................................................. 2
Auditors Independence ................................................................................................................................. 3
Non-Audit Services ........................................................................................................................................ 3
Auditors Remuneration ................................................................................................................................ 5
Key Audit Matters ......................................................................................................................................... 6
Acquisition of the Headwaters: ................................................................................................................ 7
Key Audit Matters in the USG Boral JV and Meridian Brick JV. ................................................................ 8
Formation of the Meridian Brick JV .......................................................................................................... 9
Availability and recoverability of the US tax loss asset ........................................................................... 10
Audit Committee ......................................................................................................................................... 11
Opinion to the Shareholders ....................................................................................................................... 12
Responsibility Management ....................................................................................................................... 13
Conclusion ................................................................................................................................................... 13
References .................................................................................................................................................. 14
Introduction
Following the recent financial crises the IAASB issues the new requirement for the Auditing
process, in relation to the same Australian Auditing and Assurance Standard board (AUASB)
made the similar auditor reporting standards and regulation. In relation to the same we will be
checking the Auditing standards and procedures of the company of our interest, Boral Limited.
As mentioned above there are certain process which an Auditor need to follow in accordance to
the AUASB standard. The most important factor which the enhanced auditing process has
mentioned is the Independence of the Auditor, and this the primary focus to start the report.

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Executive Summary Over the period of time Auditing process has changed and transformed, and now it is more transparent in terms of functionality. With the help of this report we will understand the key aspects of the new enhanced auditing process and how it has made the auditing process more concise and accurate. With the steps like, Independence declaration, where auditor declares that there work is not interrupted in any way. It also explains the amount of remuneration auditors are being paid and what is the difference to previous years. Then there are key audit matters which explain the issues which need the special attention of the auditors. Information about the Audit committee is also an important part of the Enhanced auditor reporting process. The auditor report starts with the opinion of the auditor to explain if they are satisfied with the Auditing process of the company or not. This complete enhance reporting system has made the Auditing system more transparent and organizational friendly to avoid any possible scandal. Contents Executive Summary....................................................................................................................................... 1 Introduction .................................................................................................................................................. 2 Auditors Independence.......................................................................................................... ...
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