26 Jun ACCT 20040 – AUDITING AND ETHICAL PRACTICE
Question
ACCT 20040 – AUDITING AND ETHICAL PRACTICE
WRITTEN ASSESSMENT TERM 1, 2014 – 30%
APPROXIMATELY 2500 WORDS
DUE DATE 2ND MAY 2014 FRIDAY 11 PM AEST MUST SUBMIT THROUGH MODULE VIA TRINITIN SOFTWARE
The subtle nature of corporate collapse ensures collapses are given wide attention in news media. Whilst some funds may be recovered from various parties that include the auditors under the regulatory system we adopt in Australia, investors are going to bear a significant share of losses suffered in corporate collapses.
Choose any 2 corporate collapse companies in the year 2011-13 from ASX 200(Public Listed Companies) and answer the following questions.
1. Locate the Annual Report of both the companies and their Unmodified Audit Report. Identify the major reasons of their collapse.
2. Identify any breach committed by the Auditors under the Corporations Act 2001 and APES 110- Code of Ethics for Professional Accountants.
3. Use analytical procedures to support your financial statement analysis and identify which were the major factors in collapse companies. For example- Liquidity issues or Long term debts.
4. Investigate the current situation of the auditors of your corporate collapse companies and what is the current civil/criminal penalty status.
5. Compare and contrast major auditor duties outlined under Corporations Act 2001 in Australia and Sarbanes Oxley Act 2002 in U.S.
6. Record all your group discussion on assessment and attached evidence as part of your assessment submission.
7. Use academic journals to support your answer.
ASSESSMENT MARKING CRITERIA
Requirements
Marks
Executive Summary
Purpose, plan and indication of findings
2
Requirements
1) Identifying two Annual Reports and their Unmodified Opinion
4
2) Identifying any breach committed by the Auditors
3.5
3) Use of Analytical Procedures
6
4) Status of penalty of Auditors.
4
5) Compare and Contrast Corporation Act 2001 and Sarbanes Oxley Act 2002
3
6) Group Journal
1.5
Conclusion
Summary of findings and opinion
2
Presentation
Appropriate referencing- in-text and reference list.
Grammar and punctuation.
3
1
TOTAL MARKS
30
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.