BUACC3741 Auditing Assignment Brief

BUACC3741 Auditing Assignment Brief

BUACC3741 Auditing Assignment Brief

This BUACC3741 Auditing Assignment Brief is to be completed in groups of three and comprises twentyper-centof the marks for this course. There are three questions.

Assessment Criteria:

Student work will generally be assessed in terms of the following criteria:
1. Effectiveness of communication – i.e. 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.
Plagiarism is presenting someone else work as your own and is a serious offence with serious consequences. As set out in the University Regulation 6.1.1, students who are caught plagiarising will, for a first offence, be given a zero mark for that task. A second offence will result in a failing grade for the course(s) involved and any subsequent offence will be referred to the Student Discipline Committee. Student must be aware of the University Regulation 6.1.1 Student Plagiarism.

Question 1. 

The International Accounting methods Standards Board (IASB) recently issued Exposure Draft IFRS Practice Statement Application of Materiality to Financial Statements to provide guidance to assist management when applying the concept of materiality to general purpose financial statements. 
Information is material if omitting or misstating it could influence decisions that users make on the basis of financial information about a specific reporting entity.

Question 2. 

Two main issues for auditors going forward concern ‘Big Data’ and ‘End-to-End Software Integration’.
Explain and discuss

Question 3. 

From transformative technology to complex regulation to unprecedented geopolitical risk, an increasing tide of disruptive trends are demanding substantive change to the global role of audit committees.
Explain the nature of disruption in this context