Get Audit Role-Play ACF5957 Semester One 2022 Help
The Audit Role-Play requires an understanding of the processes and activities involved in the planning, performance and conclusion of a financial report audit. Building upon this understanding, students are required to apply auditing concepts studied throughout the semester to create a hypothetical scenario. Outcomes of this creative and reflective work will be:
|Assessment||% of Final Grade||Due date|
|Storyboard||15 %||Upload to Moodle by 11.55 pm AEST Thursday, 14 April 2022 (week 7)|
|Role-Play video||15 %||Upload to Moodle by 9.30 am AEST Friday, 17 May 2022 (week 11)|
- Submission of a Storyboard based on your hypothetical scenario
- Submission of the Role-Play Performance via a video recording
The Audit Role-Play is a group assessment task. Groups will consist of 5 members (minimum of 4 students, maximum of 5 students) from the same seminar/tutorial. Marks for the Audit Role-Play will be awarded according to the marking criteria and made available to students on Moodle.
It is up to students to maintain communication with group members and make sure that all group members contribute equitably to the final product. For effective management, all members should ensure that they have each other’s contact details, i.e., email addresses, and phone numbers, and that regular contact is maintained between all group members.
Where a dispute arises between group members, an attempt should be made in the first instance by members of the group to resolve that dispute. Failing this, any group member may contact the Chief Examiner for assistance, after which they may set up a meeting with all group members present. Once the Role-Play performance has been completed, the Chief Examiner and other teaching staff will not be available for such assistance. Therefore, disputes arising between group members must be dealt with as soon as possible and well before the performance date.
“Technology has so captivated the auditing sphere that at first glance, it seems machines seem to be stealing the spotlight from humans. But technology, while it
can undoubtedly make jobs easier and more efficient, doesn’t replace the unique skills that human intellect, judgment and leadership bring to the table.”1
According to a recent survey from Forbes and KPMG2, graduates require the following key skills to be successful auditors:
- Strong communication skills
- Emotional intelligence
- Critical thinking and business acumen
- Professional scepticism
- Interpersonal skills
Auditors need to think critically and creatively, be agile and adaptable to change, have strong communication skills, and have enhanced empathy for a holistic understanding of the client and its needs. This assignment assists in developing these skills by using role-play in the classroom.
In addition, the 21st century shapes as a significant period where we will be dealing with a myriad of climate change risks and opportunities.3 The joint initiative by AASB and AUASB has indicated that entities can no longer treat climate change as merely a matter of corporate social responsibility and may need to consider them also in the context of their financial statements and audits (AASB-AUASB, 2019).4 The IAASB has issued a Staff Audit Practice Alert on climate- related risks, which aims to assist auditors in understanding how climate-related risks impact the audit of financial statements.5 Thus, considering the audit implications arising from climate change is timely and relevant for audit education.
Empirical evidence suggests that role-play promotes active learning, contributes to developing critical thinking and problem-solving skills, enhances empathy, improves communication skills, and facilitates the transition to the work environment.6 Thus, the Audit Role-Play in this unit provides you with a unique opportunity to enhance vital humanistic skills required to adapt and thrive in a rapidly changing business environment.
- This is a group assessment task.
- The Storyboard should briefly outline the role-play video that is due in Week 10. It should reflect some (not all) of the key dialogues of your role-play.
- The Storyboard should include approximately 20 to 30 vignettes. Students are free to choose their preferred format (A4, A3 or A2) but should respect the following: minimum 4
1 https://www.forbes.com/sites/insights-kpmg/2018/07/16/five-skills-auditors-need-to-succeed- today/#e5c58c923565
4 AASB-AUASB. (2019). Climate-related and other emerging risks disclosures: assessing financial statements materiality using AASB/IASB Practice Statement 2. Retrieved from https://www.aasb.gov.au/admin/file/content102/c3/AASB_AUASB_Joint_Bulletin_Finished.pdf
5 IAASB. (2020). The consideration of climate-related risks in an audit of financial statements. Retrieved from https://www.ifac.org/system/files/publications/files/IAASB-Climate-Audit-Practice-Alert.pdf.
6 For a literature review, see Taplin et al 2018, The use of short role-plays for an ethics intervention in university auditing courses, Accounting Education, 27:4, 383-402,
vignettes per A4 page; minimum 8 vignettes per A3 page, minimum 16 vignettes per A2 page.
- Use your imagination and be creative!
- Please upload your Storyboards to Moodle by Week 7, Thursday 14 April 2022, 11.55PM AEST. Only one group member needs to upload to Moodle, so be sure that you assign this task to a responsible group member or do it together as a group.
- A penalty of 10% of the total mark allocated to this assessment task will be deducted for each day, or part thereof, it is late.
- The Storyboard should include the details of all group members, including seminar leader/tutor name, seminar/tutor time slot and student ID number for each group member.
- Additional submission details will be provided on Moodle.
- This is a group assessment task (same group members as for the Storyboard).
- The Role-Play is a recorded video performance that should run for 12 minutes (max). In your video, please ensure that your proper name is visible (such as via Zoom naming option or a physical name tag) so that the marker can identify you and your individual performance.
- Each student within each group is required to participate in the role-play.
- Students are encouraged to dress-up and use props/accessories for the performance.
- You can use any software of your choosing to record your videos. Software like Zoom allows participants to interact remotely. It can be used to perform and record the video role-play. You should create and record various scenes in your video to represent the various aspects of your scenarios.
- Ad hoc educational videos are provided on Moodle to help you perform a role-play. This includes videos on 1) introduction to performance skills, 2) playing a character and active listening, and 3) recording your performance.
- Role-play videos should be uploaded to Moodle by Week 11, Tuesday 17 May 2022, 9.30AM AEST.
- Please upload your video along with the completed “Character Allocation” table (see appendix). Only one group member needs to upload to Moodle, so be sure that you assign this task to a responsible group member or do it together as a group.
- Be careful, the video submitted cannot exceed 500 MB.
- Additional submission details will be provided on Moodle.
Tips for creating hypothetical scenarios
- You are free to develop your role-play in any way that you choose, and you are encouraged to be as creative and innovative as possible.
- What are your interests and lived experiences that you can incorporate into your role-play to make it unique?
- As you integrate audit concepts into your role-play, consider client management’s motivations and perspectives by “stepping into the client’s shoes”.
- As auditor and client management are often involved in negotiations over proposed audit adjustments7, you may want to incorporate aspects of negotiation between auditor and client management.
- You may want to incorporate aspects of how climate risks may affect audit practices.
- Creating audit issues and working through solutions to those issues requires you to think critically and employ problem-solving skills.
- Share your ideas amongst your group members and keep in touch regularly.
- Have fun! Previous experience with using the role-play in Audit has found that students are very enthusiastic and genuinely have fun whilst learning to apply audit concepts to their own hypothetical scenarios.
- Below are some audit concepts to consider incorporating into your role-play…but remember it’s better to focus on a few situations in detail rather than trying to cover the entire audit process superficially.
- Below is an example Storyboard that has been reproduced based on a previous student- group submission and serves as an additional resource for students undertaking the role-play assessment. Please note that this Storyboard may contain conceptual errors and you should consider discussing any uncertainties with your teaching staff member. Students are encouraged to exercise their own creativity in formulating their respective Storyboards.
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