Hi5026 Auditing and Assurance Services Discussion
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
Hi5026 Auditing and Assurance Services Discussion
HI5026 AUDITING AND ASSURANCE SERVICES TRIMESTER 3, 2010…
HI5026 AUDITING AND ASSURANCE SERVICES
TRIMESTER 3, 2010
INDIVIDUAL ASSIGNMENT 2
Assessment Value: 20%
Instructions:
1. This assignment is to be submitted in accordance with assessment
policy stated in the Subject Outline and Student Handbook.
2. It is the responsibility of the student who is submitting the work, to
ensure that the work is in fact her/his own work. Incorporating
another’s work or ideas into one’s own work without appropriate
acknowledgement is an academic offence. Students should submit
all assignments for plagiarism checking on Blackboard before final
submission in the subject. For further details, please refer to the
Subject Outline and Student Handbook.
3. Answer all questions.
4. Maximum marks available: 20 marks.
5. Due date of submission: 5 pm, Friday, 4 February 2011.
Consider the following independent situations, all of which apply to audits
of entities for the year ending 31 December 20X7:
(i) Slipway Ltd, a listed company, has been experiencing declining sales
over the last 2 years. Cost cutting has proved difficult due to the high
level of imported machinery used in Slipway’s operations and
consequently margins have been falling. While the bankers are
presently happy to continue providing Slipway with loan facilities,
they do expect to see improved results in the next financial report.
Articles about Slipway’s expected financial results appearing in
recent press reports all had quite a pessimistic tone.
(ii) Discount Foods Ltd is a large supermarket chain with offices in all
capital cities around Australia. Until 30 June 20X7 data processing
relating to payroll transactions will be carried out in each capital city
by an independent computer service bureau.
(iii) Getaway Pty Ltd is a long-established firm which has been operating
a boutique hotel in the Blue Mountains for over 20 years. During this
time, it has adopted a conservative business strategy that has seen it
produce adequate, though slightly unimpressive, results. A new CEO
has been appointed to run the firm from 1 September 20X7. He has
already released his plans for renovating the hotel, despite not
officially serving as CEO yet. You have also heard him discuss the
implementation of a new marketing strategy to boost occupancy
rates.
(iv) Angora Pty Ltd is a small primary producer specializing in the
production of angora wool. Angora’s recent display at a trade show
has seen orders flood in from overseas buyers. The accountant,
Michael, has done his best to satisfy the orders as quickly as
possible while maintaining the appropriate (foreign currency)
accounting records. However, from some of the questions he has
been asking you, you suspect he is out of his depth.
(v) Kings Pty Ltd has been manufacturing uniforms for the Australian
market for the last 40 years. The government’s recent tariff reduction
policy has placed Kings in direct competition with cheaper uniforms
manufactured overseas. In a bid to retain market share, Kings has
been selling part of its school uniform range at less than cost.
However, overall profit figures remain buoyant.
(vi) Micro Pty Ltd’s best selling product line is the M4 – a `no frills’
microwave oven designed for domestic use. Over the last 2 months,
warranty claims on the M4 have trebled from 1.5% to 4.5% of sales.
The problem appears to relate to the glass turntable, which shatters
if the oven is constantly used. The average cost of repair has risen
by 20% to $200 per claim.
REQUIRED:
For each of the above independent situations, describe the overall
impact on audit risk and identify the specific component(s) of audit
risk affected.
(Maximum word length: 3,000 words)
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. GET THIS PROJECT NOW BY CLICKING ON THIS LINK TO PLACE THE ORDER
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