ACC6030 Auditing & Assurance Services - Individual Case Study Assessment

INDIVIDUAL CASE STUDY ASSIGNMENT

Required
You need to investigate the facts of the case study and using the risk-based auditing approach, auditing concepts, case laws and other information which you have learnt in this unit, including Auditing standards such as:

• ASA 315 - Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment
• ASA 320 - Materiality in Planning and Performing an Audit
• ASA 330 – The Auditor’s Responses to Assessed Risks
• ASA 560 - Subsequent Events
• ASA 570 - Going Concern
• ASA 700 - Forming an Opinion and Reporting on a Financial Report
• ASA 705 - Modifications to the Opinion in the Independent Auditor’s Report
• ASA 706 – Emphasis of Matter Paragraph and Other Matter Paragraphs in the Independent Auditor’s Report
• APES 110-Code of Ethics for Professional Accountants

The above list is only illustrative and your case study report is NOT required to address all the above mentioned Auditing standards. You can include other Auditing standards covered in this unit, as related to this company.

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You need to discuss the impact and relationship of the auditing standards so determined above, in the context of auditing theories, concepts, regulations, practices and other topics which you have learnt in this unit, such as:

• Business risk
• Corporate Governance
• Ethics and culture
• Whistle-blowing
• Inherent and control risks
• Action by creditors, shareholders and regulatory agencies
• Internal control
• Reporting obligation of auditors
• Auditor’s negligence and contributory negligence
• Auditors independence, duties and continuity
• Aggressive accounting policies used in financial statement
• Fraud and misappropriations
• Regulatory bodies

The above list is again illustrative only and your case study report is NOT required to address all the above mentioned topics. You can include other topics of this unit, as related to the company assigned to you for investigation. You can then derive your Conclusions and Recommendations.

Please use the Australian Standards of Auditing (ASA) even if they are NOT Australian companies, as they are based on International Standards of Auditing (ISA) for this report.

The length of this case study written report is 20 pages (+/- 2 pages) in PDF or Word format using Ariel 12pt font, 1.5 spacing, excluding any Appendices (for data, tables, graphs and diagrams) and references at the end in PDF or Word format.

Important:
Please ensure that the written report has the following six (6) main headings in its structure. Marks will be given specific to these main headings as per the Marking Criteria below:

• Executive Summary
• Problem Statement
• Methodology
• Findings
• Implications of findings
• Conclusions and recommendations