Assessment Information and Rubric

Assessment 2 a: Description and Instructions

The group research report requires students research real-life auditing issues using a case study approach of either Woolworths Limited or Wesfarmers Limited based primarily on the listed company’s financial recent annual report and historical reports of at least ONE prior year. This assessment relates to the learning outcomes UL01, UL02 and UL03. 

Instructions

Task details: Students are required to select one of the two nominated companies. You need to download your chosen company’s latest financial report and at least one prior year. Your report must address the following for risk assessment and planning for next year audit:

1. Provide a brief summary about your chosen company’s key operations based on the downloaded financial reports. You may include a brief history of the growth and development of the company over the years
2. Identify at least TWO key audit matters (a useful starting point will be the auditor’s report and directors’ report)
3. Discuss how these audit matters that require significant judgement of the management and the auditor
4. Discuss how these audit matters affect the audit risk, i.e., increase or decrease the audit risk and why. It will be useful if you relate your discussion to the audit risk model.
5. Discuss the potential responses to these audit matters. In this part you need to discuss how you, as an auditor, formulate your own audit strategy, i.e., control reliance or predominant substantive approach or a combination of both, as well as proposing some detailed audit procedures.

Marking and Feedback

Marks and feedback will be provided to students within 2 weeks after submission. The following rubric will be used to mark and provide feedback to students.

 

Note: For all the requirements of submissions and integrity policies you must refer to the unit study guide provided.  Please check on MyPIA Moodle site.

ACC603 Assessment 2 Marking Rubric Group Report