Chat with us, powered by LiveChat ACCG925 Fraudulent Financial Reporting in Health Industry Discussion | acewriters
+1(978)310-4246 credencewriters@gmail.com
  

168. Follow the instruction to answer question 2.1 and 2.2. 500wordsYou need to write about health industry All the work must be originalTurn it in report is requires
wechat_image_20190430154134.png

accg925_s119_assignment_brief_1_.docx

Unformatted Attachment Preview

DEPARTMENT
OF ACCOUNTING
AND CORPORATE
GOVERNANCE
Faculty of Business
and Economics
ACCG925
AUDITING AND ASSURANCE SERVICES
CASE STUDY GROUP ASSIGNMENT AND VIDEO PRESENTATION
Note – This is not the Unit Guide
The official Unit Guide is available online and is accessed separately through the unit’s iLearn page. This
Assessment Guide should be read in conjunction with the Unit Guide.
CASE STUDY GROUP ASSIGNMENT (30 MARKS REPRESENTING 15% OF THE TOTAL ASSESSMENT)
Groups of four (4) or five (5) are to be formed within your seminars for the group component of this
assignment task. Only one submission per group is to be made electronically on iLearn by the due date and
time i.e. you should nominate one member to submit.
The group component consists of a written report. The objective of the group report is to develop your
communication skills and capacity for collaborative learning and to test your ability to integrate skills learnt
in this unit of study, i.e. to analyse a company from the auditor’s perspective, with an emphasis on applying
relevant industry and current business information and context to the audit planning process.
The specific industry in which your audit client operates will be allocated to you in Week 4.
VIDEO PRESENTATION
(15 MARKS REPRESENTING 15% OF THE TOTAL ASSESSMENT)
This task builds on the work completed in the Case Study group assignment in the same specific industry
allocated to each group in Week 4, and further extends application of the knowledge from this unit. Each
student must address a specific part of the required and speak for 1 minute as part of the Video Presentation
by the group. Each student’s contribution to the video will be marked individually (technical content and
quality of communication/presentation).
Page 2
Session 1 2019 ACCG925 Assessment Criteria and Requirements
CASE STUDY GROUP ASSIGNMENT
Common company background is provided for all groups to ensure there is no need to make any
assumptions about the operational aspects of the audit client but instead the answers focus on the
relevant industry, regulatory and current economic context (i.e. not on assumed entity specific
operational issues).
ABC Ltd
You are an audit graduate assigned to the audit of ‘ABC Ltd’ (ABC) for the financial year ending 30 June
2019. ABC is an Australian company based in Sydney and has been operating successfully for over 20 years.
ABC has been listed on the Australian Stock Exchange for the last 10 years and has operations throughout
Australia. This is your audit firm’s third year as ABC’s auditor. ABC has received unmodified audit reports
for both prior audits. Assume that ABC is a going concern and operates within the specified industry
allocated to your group.
Required:
Based on extensive research of the specific industry allocated to your group as well as its relevant current
regulatory, business and economic context, address the following audit planning requirements and risk
assessment for the audit of ABC.
1.
Applicable Laws and Regulations (6 marks)
Provide two (2) key different categories of laws/regulations (other than financial related
categories which includes legislation such as: Corporations Act 2001, Australian taxation laws, ASX
listing requirements, etc.) that would be specifically applicable to ABC and the industry in which it
operates. Provide an example of a specific legislation/regulation for each category and justify why it is
important to ABC/specific industry. Your responses should be presented in the following format:
1.
Category
Legislation/regulation
Justification of
(1 mark)
(2 marks)
importance (3 marks)
Example: Financial reporting
Example: Corporation Act 2001
Example: ABC is a listed company
and audit
and therefore needs to comply with
specific annual and half yearly
financial reporting requirements
including application of IFRSs and
mandatory audit requirements.
2.
Page 3
Session 1 2019 ACCG925 Assessment Criteria and Requirements
2. Risk of Fraud (4 marks)
Discuss whether you consider (or not) specific account(s) to be susceptible to misappropriation or
fraudulent financial reporting for the industry that ABC operates in. Your discussion should
specifically address why and how the account and assertion identified is susceptible to fraud. Your
responses should be presented in the following format:
2.1
Misappropriation
Account
Explanation of why and how (by reference to specific key
(0.5 marks)
assertion at risk)
(1.5 marks)
2.2
Fraudulent Financial Reporting
Account
Explanation of why and how (by reference to specific key
(0.5 marks)
assertion at risk)
(1.5 marks)
Page 4
Session 1 2019 ACCG925 Assessment Criteria and Requirements
3. Business Risks (10 marks)
Based on the specific industry characteristics, current economic conditions and business climate:
a) Identify two (2) business risks that the auditor will need to consider in undertaking ABC’s risk
assessment.
b) Explain why each business risk identified in a) above represents significant audit (i.e. inherent)
risk.
c) Identify the key account affected for each risk in b) above.
d) Identify the key assertion at risk in relation to each account identified in c) above.
Your responses to (a) to (d) should be presented in the following format:
(a)
(b)
(c)
(d)
Business Risk
Explanation of audit (i.e. inherent)
Key
Key
(2 marks)
risk.
account
assertion
(5 marks)
(1 mark)
(2 marks)
1.
2.
Page 5
Session 1 2019 ACCG925 Assessment Criteria and Requirements
4. Responses to significant risk at assertion level (6 marks)
For each of the two key accounts and assertions at significant risk identified in 3. above:
a) Describe in detail a relevant practical substantive test of detail that will address the specific risk
and assertion identified.
b) Discuss the audit evidence you would need to obtain to undertake the procedure described in a)
above.
Your responses to (a) and (b) should be presented in the following format:
Account
Key Assertion
(a)
(b)
at Risk
at Risk
Substantive Test of Detail
Audit Evidence
(4 marks)
(2 marks)
1.
2.
Page 6
Session 1 2019 ACCG925 Assessment Criteria and Requirements
5. Overall Financial Report Planning Materiality (4 marks)
Select a specific base and percentage (%) for setting the planning materiality for ABC. Provide a brief
justification of the base selected and the percentage (%) to be applied.
Present your response in the following format:
Base chosen (0.5 mark)
Justification of the base (i.e. why ) (1.5 marks)
Percentage (%) applied to the above base
chosen (0.5 mark)
Justification of % (i.e. why) (1.5 marks)
Page 7
Session 1 2019 ACCG925 Assessment Criteria and Requirements
LENGTH AND FORMATTING GROUP CASE STUDY
Maximum 4 pages. This excludes any bibliography and appendices where applicable (note that appendices,
where attached will not be marked). Font size must be at least 11 with no less that 1.15 line spacing. It is
mandatory to provide your answers in the tables and format provided.
SUBMISSION AND DUE DATE
Only one submission per group should be made by one (1) nominated group member to Turnitin on
iLearn by 4pm on Monday 6 May 2019 (Week 9). The submitting group member should be listed first on the
group coversheet.
The person submitting the assignment must send the Turnitin Originality report to each group
member. This is because each member will be held accountable for any plagiarism. Plagiarism is treated very
seriously by the University and students are advised to familiarise themselves with the University Academic
Honesty Policy. If you are a group member and have not received the Turnitin Originality report within 24 hours
of assignment submission from your nominated
group submitter, you need to contact us at
accg925@mq.edu.au
All students must individually complete the self and peer assessment form and submit this in person to
their seminar leader in the Week 9 seminar.
PENALTIES
Please note the following penalties for this assignment:

Late submissions will receive a deduction of 10% of the total available marks made from the total
awarded mark for each 24 hour period of part thereof that the submission is late (for example, 25 hours
late in submission-20% penalty).

Incorrect submissions (e.g. submitting the wrong file/old version/assignments for a different unit,
etc) will be awarded a marked of zero (0). It is your responsibility to ensure that you submit the correct
files. You may resubmit until the due date and time. Any submission on the due date and time will be
taken to be the final. No further submission will be allowed.

Failure to adhere to length requirements will result in any content beyond the page limits not
marked.

Failure to adhere to formatting instructions or provided formats will result in a deduction of
25% of the total available marks made from the total awarded mark for this component of the assessment
task.

Failure to complete the assignment in a group will result in a deduction of 25% of the total
available marks made from the total awarded mark for the group component of the case study assessment
task. It is your responsibility to ensure that you are in a group early in the semester. No complaints in
relation to non-performing/absent group members will be considered just before/on/after the due date
and time. Any complaints should be directed to your Seminar Leader and must be brought to the Unit
Convenor’s attention early in the semester. The Unit Convenor may direct students who do not
contribute or participate in the group component to complete the component by themselves i.e.
individually. This penalty will apply in the event of this happening. Under no circumstances will this
penalty be waived for students who do not complete the assignment in a group.
Page 8
Session 1 2019 ACCG925 Assessment Criteria and Requirements
CRITERIA AND STANDARDS
The following standards apply to this assessment task.
Descriptor
Mark (%)
An exemplary level of performance. The group has demonstrated a very
high level of understanding of the unit content and very strong ability
to apply this knowledge in the context of the case study company’s
industry. The group report demonstrates an extensive level of
interrogation of the case study company’s industry, regulatory and
business context including current economic conditions. The responses
reflect a strong appreciation of the complexity of the case study
company’s environment and provide appropriate, specific and practical
audit responses in view of this.
85 – 100
HD
A superior level of performance. The group has demonstrated a high
level of understanding of the unit content and strong ability to apply
this knowledge in the context of the case study company’s industry.
The group report demonstrates a high level of interrogation of the case
study company’s industry, regulatory and business context including
current economic conditions. The responses reflect sound appreciation
of the complexity of the case study company’s environment and mostly
provide appropriate, specific and practical audit responses in view of
this.
75 – 84
D
A good level of performance. The group has demonstrated a good level
of understanding of the unit content and sound ability to apply this
knowledge in the context of the case study company’s industry in most
instances. The group report demonstrates a reasonable level of
interrogation of the case company’s industry, regulatory and business
context including current economic conditions. The responses reflect
an appreciation of the complexity of the case study company’s
environment and generally provide appropriate, specific and practical
audit responses in view of this.
65 – 74
CR
An acceptable level of performance. The group has demonstrated an
acceptable level of knowledge of the unit content and their ability to
apply this knowledge in the context of the case study company’s
industry in some instances. The group report demonstrates an
acceptable level of interrogation of the case study company’s industry,
regulatory and business context including current economic
conditions. The responses reflect limited appreciation of the
complexity of the case study company’s environment and provide some
appropriate, specific and practical audit responses.
50 – 64
P
Unacceptable performance. The group displays significant deficiency in
their understanding of the unit content and their ability to apply this
knowledge to the case study company’s industry. The group report
demonstrates little or no interrogation of the case study company’s
industry, regulatory and business context including current economic
conditions. The responses reflect minimal appreciation of the
complexity of the case study company’s environment and do not
provide appropriate, specific and practical audit responses.
1 – 49
F
0
FA
No group submission made.
Page 9
Session 1 2019 ACCG925 Assessment Criteria and Requirements
Grade
VIDEO PRESENTATION
(INDIVIDUALLY MARKED/ 15 MARKS REPRESENTING 15% OF THE TOTAL
ASSESSMENT)
Using industry knowledge developed in completing the Group Case Study Assignment and further
independent research and analysis, each member of the group is required to prepare and present one of
the questions below:
1. Briefly outline the significance of technology (IT) on your client’s industry in terms of recording and
reporting key financial information and the likely impact of IT on your audit/audit strategy. Your
answer should address as to whether specific CAATs are likely to be utilised (or not). If you decide
to use a CAAT you need to specify why and how you will use it by reference to specific account(s)
and assertion(s).
2. By reference to your client’s industry discuss whether you will/will not require to use the work of
an expert on the audit. Justify why/why not by reference to specific issues and the relevant account
at the assertion level.
3. With specific reference to your client’s industry discuss how the current Australian economic and
business climate is likely to impact on your going concern assessment. Your answer should focus
on two (2) specific factors and each factor’s impact on your going concern assessment.
4. By reference to the specific context of your client’s industry, identify and justify one (1) likely key
audit matter (KAM). Describe how the audit will address the KAM identified (i.e. specific, practical
responses the auditor would most likely undertake to address the KAM). Please note that the KAM
identified must be specific to the industry. Generic answers not specific to your industry (e.g.,
Goodwil) will receive 0 (zero) marks.
5. Only to be addressed by groups of 5. By reference to the specific context of your client’s
industry, including current regulatory and economic climate, identify and justify the most likely
(and most common) type of audit opinion modification that may arise.
Each specific question/required above (other than 5. in groups of 4) will be addressed by different
individual group members. The allocation of the specific topic/question to be addressed by individual
members needs to be negotiated and agreed upon by the group. The Video Presentation must cover all 0f
the required/questions above (other than 5. in groups of 4) with each individual member addressing a
different part of the presentation.
Page 10
Session 1 2019 ACCG925 Assessment Criteria and Requirements
VIDEO PRESENTATION
(INDIVIDUALLY MARKED/REPRESENTING 15% OF THE TOTAL ASSESSMENT)
SUBMISSION AND DUE DATE
This assessment requires you to deliver a presentation worth 15% of your final grade. It is due in your Week 12
seminar. It is marked individually as each student’s contribution should be identifiable. All presenters must
attend the seminar, otherwise the student will be awarded zero (0) marks for this assessment task.
TASK OVERVIEW AND LENGTH
You are required to complete this presentation in the same groups you completed your Group Case Study
Assignment with. It is expected that your Video Presentation will not exceed 5 minutes for groups of 4 (6 minutes
for groups of 5) with all team members speaking and on camera for a minimum of 1 minute. The questions that
you and your group members are required to discuss in the video are provided on page 10 of this Assignment
Brief.
The completed Video Presentation is to be presented in Week 12 seminar to all students. Please bring your video
on a USB or upload it to Youtube. You are required to provide a copy of your presentation to your Seminar Leader.
EXTENSIONS AND PENALTIES
Not applicable-undertaken in seminar. Students that do not present their video in Week 12 will be awarded a
mark of 0 (zero) for the assessment task. An alternative assessment will only be considered if it meets the following
criteria:
1.
Students read the policy on Special Consideration. Students must read the policy to ensure that the
criteria are met prior to submitting their request.
2. Students must submit a Special Consideration prior to the seminar when the presentation is due through
https://ask.mq.edu.au with the reason for non attendance.
No late presentations will be accepted, except for cases in which an application for Special Consideration is
made and approved.
Page 11
Session 1 2019 ACCG925 Assessment Criteria and Requirements
CRITERIA AND STANDARDS
Video Presentation (15 Marks)
Presentation
Content Fulfill
purpose
(inform),
Q&A (if
required)
Not
attempted
(0%)
Fail (1)
(1-49%)
Pass
(50-64%)
Credit
(65-74%)
Distinction
(75-84%)
High
Distinction
(85-100%)
Not
attempted /
entirely or
significantly
plagiarized
from other
sources.
Content is
irrelevant
and/or
frequently
inaccurate.
Content is
mostly
informative
and
relevant.
Content is
always
relevant
and
informative.
Content is
relevant and
informative as
well as
comprehensively
covering the
topic area.
Visuals
haphazard
or poorly
executed.
Visuals
are
adequate.
Visuals are
adequate
and mostly
interesting.
Visuals creative
and interesting.
Content is
relevant and
informative as
well as
comprehensively
covering the
topic area, and
makes
connections with
materials in new
ways.
Innovative and
appropriate
techniques/
visuals greatly
stimulated
audience
interest.
Verbal
delivery is
mostly
clear
and/or not
within time
limit.
Verbal
delivery is
mostly
clear,
delivered
within time
limit.
Verbal
delivery is
mostly
clear, with
a good
effort at
engaging
the
audience
and
delivered
within time
limit.
Verbal delivery
is always clear,
with a good
engagement
with the
audience and
delivered within
time limit.
Marked out
of 6
Effectiveness Not
attempted /
of visuals
entirely or
significantly
plagiarized
from other
Marked out
sources.
of 3
Delivery Verbal
(voicespeed,
volume),
Time limit
Marked out
of 6
Page 12
Not
attempted /
entirely or
significantly
plagiarized
from other
sources.
Session 1 2019 ACCG925 Assessment Criteria and Requirements
Confident
delivery does
not just inform
the message but
significantly
enhances the
understanding of
information.

Purchase answer to see full
attachment

error: Content is protected !!