Homework: Auditing
Length: 2000 words.
Learning Outcomes
1. Explain the organization's and the auditor's responsibilities for an audit
2. Discuss reasons for performing different types of audits
3. Understand the importance of planning an audit and distinguish the steps involved
4. Explain and apply the auditing standards, practice and process of auditing to practical situations
5. Identify and evaluate the risks inherent in an audit, and report on current auditing issues
Task
Principally you will be marked on four components:
1. Were any errors or mistakes made during the audit under consideration
2. Legal issues both from a statue perspective (corporate law) and other legal issues.
3. Ethical issues
4. Format, Presentation Quality and Demonstration of Research (10marks for each component)
As mentioned above, Part 1 should be presented in a academic paper format.
A key aspect in your choice of format/layout should be to ensure you impart your key messages effectively (i.e., complete the requirements) and efficiently (i.e., it should be succinct and take into account the word limit).
Make sure all pages are numbered, and the text fits within the margins of your pages. make sure to include the relevant heading.
Required:
Discuss what errors if any were made in the audit of the Centro Properties group in 2007, and the subsequent legal actions against the auditor by both ASIC and other parties. Explain in your own words what influence the events surrounding this case are having on auditors.
Format your homework according to the give formatting requirements:
1. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the homework, the course title, the student's name, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.