what's up everyone my name is arthur and welcome to the channel today we're going to take a look at the pwc assurance academy case because the first two tasks are pretty quick i'll be going through both of them in this video but right before we get started i just want to let you guys know that if you're interested in investing in cryptocurrency uh i highly encourage you to take a look at my video on coinspot coinspot is how i really started learning about crypto and that's actually how i started investing in it also if you guys are interested please use the code in the description to make an account you'll get ten dollars worth of bitcoin for free i think you may even be able to get those ten dollars without making a deposit uh but if you do have to make a deposit you can just deposit one dollar if you don't have an australian bank account or are having some issues with coin spot i'll also drop a link in the description for finance finance is an exchange like coin spot but it also has many different e-learning tools if you're interested in learning uh more about crypto binance is definitely a very good start if you're not even interested in investing just learning about cryptocurrency i think it's an excellent tool and you can also learn a lot about blockchain as well and with that let's get started with the pwc case so the case is basically centered around auditing a company which i believe is a hotel that pwc has been elected to audit and the first task is essentially we have to figure out what type of audit are we doing so as always um the first the first task is usually pretty quick so here we have to answer these two questions we're going to send an email to kevin and we have a bunch of extra info that's provided for us here sometimes they're pretty overwhelming you have a lot of information um helpful hints that's probably going to be useful yeah so try not to get overwhelmed you know open them up don't feel like you need to use all of it often i've found that often you don't need all the information especially when it's just the first couple questions for these cases all right so the basics of the swiss audit option so this document here is probably going to be the most important so it outlines we have three different types of audits that we can do um we have limited audit ordinary and no order so looking at the limited it looks like we're going to have to compare some criteria so we have sales total assets employees they'll send me for about that below okay all right so i i think okay that's this useful document and let's have a look at okay so here we have the balance sheet it's important that it's in swiss francs yep so right so we can see that the total assets down the bottom is going to be useful it's one of the criterias for a limited audit so i believe it was um was it 20 million yeah 20 million in total assets and 40 million in sales okay so let's have a look at the income statement as well that's we're gonna find the sales all right so i think uh yeah you gotta be careful here um it's not net profit so making sure that it's uh the bottom line of total revenue basically it's revenue sales kind of interchangeable unless they're speaking about them specific products so i'll take the bottom to those two bottom numbers so i think um yeah by the looks of it it's uh it looks like it's an ordinary audit now this is like i'm doing this pretty quickly i would say definitely do a little bit more research and just make sure that that's kind of comp uh kind of complies with everything else that you find so drafting the email you always want to write the first you want to write the answer that you're looking for in the first line that's really important um and what i'm going to do now is i will create a kind of an explanation for my relay or my reasoning for why we're doing an ordinary audit so i explained it to you guys just then but now we're going to [Music] put in the email and charts just simple kind of table is always really useful so we're gonna go client 2018 climb 2019 because over those years it can vary it's important i think um because if you're auditing a company you shouldn't and it should it's relevant over what number of years and here as i said before we don't meet the criteria for two of the three um we only meet the criteria for the employees and these are the numbers that we found just as i said those are the total assets and uh the net income number just below here sorry not no income sales number make sure we don't get confused with the net profit and just a quick explanation yes all right there we go and obviously you know you can format it um and there that that's essentially task one done so moving on to task two um it is an ordinary audit and now we're going to continue on and have a look what they want us to do here so we want to advise uh the client all right all right kevin has some more questions we need a bit more so we're gonna we need to find a little bit of information from our clients so we're going to create a slide deck which i've kind of prepared here and what i encourage you guys to do is go into the slide master and play around with formatting um because i think that's really important that you don't you're not really taught in school at least i wasn't so play around with the slide master um try to get you know i i made that pwc design that wasn't kind of a given so um anyway moving on to the questions the first slide we're going to talk a little bit about uh learning more about the client so what do we want to know uh from internal sources so what are the internal sources and also the external sources so the first things that come to mind you know management right cfo ceo then we can kind of keep moving down any records that we can find of executive meetings same thing um this should be bought at meetings uh records of uh a board of directors again as in meetings records of those meetings any future business plans that have been kind of solidified any documents on that um financing documents and any uh investing projects and uh current budgets okay oops fix that all right and external sources um for me these are a bit iffy i'm thinking lenders other outside investors that probably are not on the board um press industry reports um not media maybe other media kind of coincides with press and finally website by by website i mean just clients website um that should work uh this list is definitely not exhaustive there's probably way more that you can do but those are just i think the main ones that come to mind now the second question is really i think we've already really answered it but um just for kind of uh the holistic approach we're going to answer it as well so gathering data what do we mean by this is we can have some meetings with the ceo and management so we want to look at the minutes or records of the board meetings um various executive and board meetings look at the internal reports check out the budget and financing documents and also any strategy and kind of investing documents that they may have now for external sources uh we can meet with lenders we can meet with investors also analyze press articles i guess be careful with that make sure it's not an opinion always fact check collect industry reports and collect data from uh the client's website anything anything interesting that you find there all right so and that's about it okay um i'll leave it like that and just send it through so the task is only one hour i definitely wouldn't spend a lot of time on it usually if you are in a big company setting you're probably going to be working on two or three things at once if not more so it's really important that you get the information uh kind of complete your task and get it out relatively quickly so that's it for the first two tasks in my next video i'll be going through the rest of the pwc uh assurance academy case once again if you guys are interested in learning more about cryptocurrency or potentially starting investing definitely check out the links in the description for coin spot and finance again binance great resource to start learning about cryptocurrency in general and blockchain or if you're interested in learning more about the market and potentially starting to actually invest definitely use my link in the description for coin spot you'll get a free 10 so you can start playing around with that thank you guys so much for watching i'll see you in the next video you