Assessment:
Student work will generally be assessed in terms of the following criteria:
1. Effectiveness of communication - ie readability, legibility, grammar, spelling, neatness, completeness and presentation will be a minimum threshold requirement for all written work submitted for assessment. Work that is illegible or incomprehensible and does not meet the minimum requirement will be awarded a fail grade.
2. Demonstrated understanding - This will be evidenced by the student's ability to be dialectical in the discussion of contentious issues.
3. Evidence of research - This will be evidenced by the references made to the statutes, auditing standards, books, journal articles and inclusion of a bibliography.
PART A (1000 words)
What are the significant and pervasive audit deficiencies within accounting firms? Discuss.
How can these deficiencies be rectified? Discuss.
PART B 1000 words)
A fierce battle is raging over coveted top rankings for accounting firms.
a) List the top 20 Australian accounting firms.
b) Where does their money come from? Discuss.
c) Most of the (Australia) nation's top 20 fastest growing firms share two traits. Discuss.
PART C (750 words)
a) What are the duties to report information to ASIC by auditors?
b) What are the institutional arrangements and procedures for enforcing discipline against registered company auditors?
c) Should penalties for breaches of the financial reporting requirements of the Corporations Act be increased? Discuss or explain.