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留学生作业关于审计指导 ASSIGNMENT AUDITING

论文价格: 免费 时间:2010-12-17 16:00:35 来源:www.ukassignment.org 作者:留学作业网

ASSIGNMENT AUDITING

 Overview
Assignment is worth 15% of the overall assessment for this subject.
Length: 3000 words (maximum)

Introduction
This assignment requires you to form a group of two (2) to develop an audit plan. You must follow the planning steps prescribed in Leung et al. Your submission for this assignment must not exceed 3000 words in length. You must attach the assessment declaration sheet to the front of your assignment. You must sign and date the assessment declaration sheet. For domestic students, submission should be made as instructed below. Offshore students should follow the instructions of the local lecturer.
You must ensure the clarity of your answer and the overall presentation of your assignment. Presentation includes grammar, spelling and compliance with the word limit. You must complete your assignment in group of two (2).

Submission instruction
Assignment must be submitted in both electronic and manual format. Electronic assignment must be submitted via turnitin located on webct. An originality report is available to students. Assignment with originality report level of more than 30% will not be accepted. That is, assignment with originality report level of more than 30% may indicate that the contents have more than 30% in similarity with assignment submitted by other students OR assignment has not been properly referenced. Assignment with originality report level of more than 30% must be revised and re-submitted. Students can re-submit assignment on webct as many times as necessary but the final submission both in electronic and in manual format must be made by the due date.
Students can submit assignment until 11:59PM on the due date. Assignments not meeting these requirements will be returned for re-submission, with an automatic penalty of four (4) marks for poor presentation. This includes exceeding the 30% limit. Penalty of two (2) marks per day applies for late submission. Note: Webct will not accept late submission.

Pragiarism
Plagiarism is defined as presenting someone else’s work, including the work of other students, as one’s own. Any ideas or materials taken from another source for either written or oral use must be fully acknowledged, unless the information is common knowledge. All students are strongly advised to do the following:
- goto - enter School of Accounting and Finance
- enter Student Resources
- read the PLAGIARISM POLICY.
 Background
The rationale for BAO3306 – Auditing as per Unit of Study Outline is that on completion of this unit students should have a sound understanding of the underlying concepts of auditing and in particular of financial auditing. By adopting a logical, structured approach they should have the capacity to analyse the salient audit issues and apply relevant auditing theories and succinctly communicate their professional, ethical decision. #p#分页标题#e#
One of the unit outcomes requires students to be familiar with key tools used by auditors for collecting and evaluating evidence, in both manual and computerised accounting information systems, which will enable them to express an opinion on the fair presentation of financial reports.
To ensure the audit is carried out efficiently and in a timely manner, the auditor develops an audit plan for the conduct and scope of the audit. ASA300.5 states that the auditor shall plan the audit so that the engagement will be performed in an effective manner.

Required
1. You are required to download the  annual report published by one of the following institutions- World Vision (2. Using the steps set out in Leung et al, plan the audit for the entity you have chosen. There is no minimum or maximum number of explanations that you must provide to support your audit plan. However, you must be as specific as possible when developing your audit plan.
3. Your audit plan must include the followings:
- Executive summary
- Introduction
- Audit plan with the following headings:
1. Obtain an understanding of the entity and its environment
2. Make preliminary judgements about materiality levels
3. Consider the audit risk
4. Obtain an understanding of the entity’s internal control structure
5. Develop preliminary audit strategies for significant assertions
- Conclusion
- Appendix
- References

 Additional information
For the purposes of the assignment, the following auditing standards are relevant:
- ASA210 Terms of Audit Engagements
- ASA220 Quality Control for Audits of Historical Financial Information
- ASA230 Audit Documentation
- ASA250 Consideration of Laws and Regulations in an Audit of a Financial Report
- ASA300 Planning an Audit of a Financial Report
- ASA315 Understanding the Entity and its Environment and Assessing the Risks of Material Misstatement
- ASA320 Materiality and Audit Adjustments
- ASA330 The Auditor’s Procedures in Response to Assessed Risks
- ASA520 Analytical Procedures

Hints and Tips
1. You are required to plan the audit using only information that is publicly available. That is, you only use the information that is published by the entity either on its website or printed materials.
2. When making preliminary judgements about materiality levels and developing preliminary audit strategies for significant assertions, you are required to consider only the 4 statements, namely the Income Statement, Balance Sheet, Cash Flow Statement and Statement of Changes in Equity.#p#分页标题#e#
3. To calculate materiality level for this audit assignment, you are advised to select between 0.25%-0.5%, i.e. 0.5% of total operating revenue of $40 million = $40 million x 0.005 = $200,000. 
4. In considering audit risk, you are required to identify 5 key risk areas. It is up to you to decide on the key risk areas as you will be required develop preliminary audit strategies for the areas you have identified.
5. Information on the organisation’s internal control structure can be obtained by looking at the relevant section in the annual report, materials published on the company website and comparing them to the Principles of Good Corporate Governance and Best Practice Recommendations published by the ASX Corporate Governance Council.
6. Quoting directly from textbooks and reports will increase the similarity index. Quoting without proper referencing will also increase the similarity index. Students are advised to develop their own plan.
7. Turnitin has the facility to report on whether your assignment is copied from other sources. Penalty of four (4) marks may apply for poor presentation. Serious breaches will be reported to the disciplinary panel.
8. Only one student in the group needs to submit the assignment.
9. Submit your assignment early. A penalty of two (2) marks per day applies to late submission.
10. If you want to remove the previous version of the assignment on turnitin, submit a blank assignment or a new version of the assignment.

MARKING SCHEME
- Executive summary (0.5 Mark)
- Introduction (0.5 Mark)
- Audit plan with the following headings:
o Obtain an understanding of the entity and its environment (3 Marks)
o Make preliminary judgements about materiality levels (2 Marks)
o Consider the audit risk (3 Marks)
o Obtain an understanding of the entity’s internal control structure (1.5 Marks)
o Develop preliminary audit strategies for significant assertions (3 Marks)
- Conclusion (0.5 Mark)
- Appendix (0.5 Mark)
- References (0.5 Mark)
 

 

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