Auditing assignment

Topics: Auditing, Audit, Internal control Pages: 1 (579 words) Published: October 26, 2014
ASSIGNMENT AUDITING Semester 1, 2014 Overview Due date Thursday, 5th June 2014 Length 3000 words (maximum) Introduction This assignment requires you to develop an audit plan. You must refer to the relevant chapters of the textbook for information relating to audit planning. 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. 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. Submission instruction Assignment must be submitted electronically and in hardcopy. Electronic submission must be submitted An originality report is available to students upon submission. 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 exceeding 30 will be penalised by four (4) marks. Hardcopy submission must be submitted by the due date. Background The rationale for 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. 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. Required 1. For the purpose of the assignment,...

References: Hints and Tips 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. Information on the organisations internal control structure can be obtained by looking at the relevant section in the annual report, materials published on the entity website. In assessing acceptable audit risks, you are required to identify five (5) account balances at risk of being materially misstated. You are required to support your selection using the Audit Risk Model.
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