Part A -
Watch the video False Assurance and answer the following questions:
1. Summarise the key issues associated with the fraud
2. Using the fraud triangle, explain why the fraud was able to be committed
3. Consider whether the auditors may have been negligent.
Part B -
Through a review of the Victorian Independent Broad-Based Anti-Corruption Commission's (IBAC's) investigation into UltraNet (called Operation Dunham - refer link below) and other sources such as reviews by the Victorian Auditor General's Office, answer the following questions:
1. Summarise the key issues that were considered by investigators
2. Using the fraud triangle, describe the circumstances allowed the corruption identified by IBAC to occur
3. Should the Department's auditors have done more to identify the weaknesses that led to the corruption?
4. If you were the auditor for CSG Ltd, what steps or procedures would you take, if any, during the planning of the audit for the current year 2017?
Write an overall conclusion for both Parts A and B and be mindful that written communication skills are also assessed for Parts A and B.