HI6026 Audit, compliance and assurance assignment help

Group Assignment

Assessment Details and Submission Guidelines
TrimesterT2 2024
Unit CodeHI6026
Unit TitleAudit, compliance and assurance
Assessment TypeGroup Assignment
Due Date+ time:

Wednesday, 25 Sep 2024

11.59 PM

Purpose of the assessment (withULO Mapping)

Students are enrolled in a Group of up to 4 members. The group will study, analyse and conduct academic work on the topics of Audit, compliance and assures week 2 toweek 12 (ULO 1, 2, 3 and 4).

A groupof 4 students will study,analyse, and perform academic assignments related to Auditing, Assurance and Compliance. This activity will cover ULO 1, 2, 3, and 4.

 

  1. Evaluate the economic and legal basisfor auditing and the applicable auditing standards and reporting requirements;

 

  1. Analyse and communicate the auditor's professional, legal and ethical responsibilities to their clients and third parties;

 

  1. Research and assess auditstrategies including the evaluation of business riskand internal controls;

 

  1. Apply auditconcepts and processes to gather evidence and formulate judgments with respect to the underlying information;
Weight40 %
Total MarksAssignment (40 marks)
Word limit3,000 words ± 500
Submission Guidelines
  • All work must be submitted on Blackboard by the due date along with a completed Assignment Cover Page.
  • The assignment must be in MS Wordformat unless otherwise specified.
Academic Integrity InformationHolmes Institute is committed to ensuring and upholding academic integrity. All assessments must comply with academic integrity guidelines. Please learn about academic integrity and consult your teachers with anyquestions. Violating academic integrity is serious and punishable by penalties thatrange from deduction of marks, failure of the assessment task or unit involved, suspension of course enrolment, orcancellation of course enrolment.
Penalties
  • Allwork must be submitted on Blackboard by the due date and time, along witha completed Assessment Cover Page. Late penalties apply.
  • Your answers must be based on Holmes Institute syllabus of this unit. Outside sources may not amountto more than 10% of any answerand must be correctly

    referenced in full. Over-reliance on outside sources will be penalised

 
  • Reference sources must be cited in the textof the reportand listed appropriately at the end in a reference listusing Holmes Institute Adapted Harvard

    Referencing. Penalties are associated withincorrect citation and referencing.

Adapted Harvard Referencing

Reference requirements

Adapted Harvard Referencing approach example and guidelines:

  1. Reference sources in assignments are limited to sources which provide full text access to the source’s content for lecturers and markers.
  2. The Reference list should be located on a separate page at the end of the essay and titled: References.
  3. It should include the details of all the in-text citations, arranged alphabetically A-Z by

author surname and each referenced numbered (1 to 10 etc). In addition, each reference MUST include a hyperlink to the full text of the cited reference source.

For example;

  1. Hawking, P., McCarthy, B. and Stein, A. 2004. Second Wave ERP Education, Journal of Information Systems Education, Fall,

    http://jise.org/Volume15/n3/JISEv15n3p327.pdf

  2. All assignments will require additional in-text reference details which will consist of the surname of the author/authors or name of the authoring body, year of publication, page number of the content, paragraph where the content can be found.

For example; “The company decided to implement an enterprise wide data warehouse business intelligence strategy (Hawking et al, 2004, p3(4)).”

  
 

Non-Adherence to Referencing Guidelines

Where students do not follow the above guidelines:

  1. Students who submit assignments which do not comply with the guidelines, a 20% penalty will be applied.
  2. Late penalties will apply, as per the Student Handbook each day, after the student/s have been notified of the resubmission requirements.
  3. Students who comply with guidelines and the citations are “fake” will be reported for academic misconduct.

Assignment Requirements – Questions

Each group has been allocated a subject company for completing this assignment. In the excel file """Find Your Company""" """"""under "Assessments" on Blackboard, you will find the listed company you have been allocated for completing this assignment.

  • As a group, your assignment should be based on the company allocated to your group (Refer to the information given above). Your assignment will not be marked if you use a different company than the one you have been allocated, or you will be asked to resubmit your assignment using the correct company. Students are not allowed to complete the assignment using the same company as used by another group.
    • Go to the website of your allocated company. Then, go to the Investor Relations section of the website. This section may be called: """Investors""", ""Shareholder Information"," or similar titles. In this section, find the 'company's annual report and other related reports. Download the 'firm's latest annual report and other related information and reports and save it to your computer. For example, these reports may be dated 30 June 2022 or 30 June 2023.

Requirements - Questions

As a group, assume that you have been appointed as the external auditor for your allocated company for the financial year ending June 2022 or 2023. Prepare a report to adequately address the following:

  1. In the evolving landscape of digital business environments, discuss the unique challenges and considerations associated with ensuring the integrity of data obtained for the audit of a financial report. Identify specific risks that arise in the context of digital transactions, cloud computing, and reliance on automated systems. Outline the procedures and controls that auditors should implement to assess and maintain the integrity of financial data in the digital business environment. Explore how advancements in technology, such as blockchain or data analytics, can be leveraged to enhance data integrity assurance. Discuss the potential impact of compromised data integrity on the audit process and the reliability of financial statements in the digital business era. (15 marks)
  2. As external auditors for your company, prepare a report based on your allocated company. For quality audit, (a) Describe the characteristics and operating strategy of your designated company, its field, and the surrounding market conditions. (b) Recognize significant business threats and risks and their impact on your designated company. (c) Conduct an analysis of the potential material misstatement in the financial report of your designated company. Note: Consider the elements that

influence inherent risk, control risk, and then explain your understanding of detection risk. (15 marks)

The assignment structure must be as follows:

  1. Holmes Institute Assignment Cover Sheet – Full Name, Student No., Contribution.
  2. Executive Summary

    • The Executive summary should be concise and not involve too much detail.
    • It should make commentary on the main points only and follow the sequence of the report.
    • Write the Executive Summary after the report is completed, and once you have an overview of thewhole text.
    • The Executive Summary appears on the first page of the report.
  3. Contents Page – This needs to show a logical listing of all the sub-headings of the 'report's contents. Notethis is excluded from the total word count.
  4. Introduction – A short paragraph that includes background, scope and the main points raised in order of importance. There should be a brief conclusion statement at the end of the Introduction.
  5. Main Body Paragraphs with numbered subheadings – Detailed information that elaborates on the mainpoints raised in the Introduction. Each paragraph should begin with a clear topic sentence, then supporting sentences with facts and evidence obtained from research and finish with a concluding sentence at the end.
  6. Conclusion – A logical and coherent evaluation based on a thorough and an objective assessment of the research performed.
  7. Appendices – Include any additional explanatory information which is supplementary and/ or graphical tohelp communicate the main ideas made in the report. Refer to the appendices in the main body paragraphs, as and where appropriate. (Note this is excluded from the total word count.

Group Formation and Group Assignment

To ensure that all students participate equitably in the group assignment and that students are responsible for the academic integrity of all components of the assignment. You need to complete the following Group Assignment Task Allocation table, relevant evidence (authenticity of your assignment) which identifies which student/students are responsible for the various sections of the assignment.

This table needs to be completed and submitted with the assignment as it is a compulsory component requiredbefore any grading is undertaken. Students that are registered in a solo group are not required to fill this table.

Both assessment items must be submitted on Blackboard. The written assignment must be in a report format and submitted through safe-assign prior to final submission. The originality percentage should be as low as possible. The written submission must be double-checked, edited and rephrased if the originality percentage and plagiarism risk is noted as high, as per safe-assign.

Marking Criteria

Group Assignment Marking CriteriaWeighting
  • Executive Summary
2%
  • Introduction andMain Body of theReport
30%
  • Overall Presentation, Evidence of research and use of appropriate refencing in the assignment
8%
Total Weightof the Report40%

Academic Integrity

Holmes Institute is committed to ensuring and upholding Academic Integrity, as Academic Integrity is integral to maintaining academic quality and the reputation of Holmes’ graduates. Accordingly, all assessment tasks need to comply with academic integrity guidelines. Table 1 identifies the six categories of Academic Integrity breaches. If you have any questions about Academic Integrity issues related to your assessment tasks, please consult your lecturer or tutor for relevant referencing guidelines and support resources. Many of these resources can also be found through the Study Sills link on Blackboard.

Academic Integrity breaches are a serious offence punishable by penalties that may range from deduction of marks, failure of the assessment task or Unit involved, suspension of course enrolment, or cancellation of course enrolment.

Table 1: Six categories of Academic Integrity breaches

PlagiarismReproducing the work of someone elsewithout attribution. Whena student submits their own work on multiple occasions this is known as self- plagiarism.
CollusionWorking with one or more other individuals to complete an assignment, in a waythat is not authorised.
CopyingReproducing and submitting the work of another student, with or without their knowledge. If a student fails to take reasonable precautions to prevent their own original work from being copied, this may also be considered an offence.
ImpersonationFalsely presenting oneself, or engaging someone else to present as oneself, in an in-person examination.
ContractcheatingContracting a third partyto complete an assessment task,generally in exchange for money or other manner of payment.
Data fabrication and falsificationManipulating or inventing datawith the intent of supporting false conclusions, including manipulating images.

Source: INQAAHE, 2020

Marking Rubric

 Excellent HDVery Good DGood CSatisfactory P

Unsatisfa ctory

F

Executive Summary

 

(2 marks)

Very effectively written synopsis with clear communication ofthe main points ina

concise paragraph.

Competently composed a strong synopsis. The mainpoints are communicated well.Synopsis is professionally written with all the expected points raised.Synopsis is clearlywritten, but it is brief or has some errors.Synopsi s is deficien t and poorlywritten. Too brief.
Main BodyExcellent. WellThere are validThere are validSome

Poorly

organized;

Includingorganized. Mainpoints raised withpoints raised,organization;no logical
Introductionpoints arelogicallya good argumentparagraphing ismain pointsprogression;
(30 marks)ordered; sharp/ Thesisnoted, and theare there but

beginning

and

sense ofstatement,points in thethey are

ending is

vague.

structuring andparagraphingisintroductionisdisjointed;No structure.
arrangement  of keynoted, and theexplained inMinorLacks substance.
information.points in themore detailstructuringNo research
Supporting detailsintroduction iswith supportingissues.noted.
are specific to theexplained in moreevidence.  
main points anddetail with   
adequate facts andsupporting   
other evidence isevidence.   

 

 provided and well-    
articulated.

Overall Presentation, Evidence           of research and use of           appropriate refencing in the assignment

(8 marks)

 

 

 

Total (40)

References are consistently correct using Adapted Harvard style. No missing citations.A strongreference list with relevant andcredible sources used.Evidence of extensive research. And excellent

presentation

References are consistently correct using Harvard style. No missing citations.

References used are good, but not extensive.

However, a very good prestation report

Generally correctreferencing using Harvard style. More references required.

However, a goodprestation report

Some References are used, but not used consistently. Not enough research done.Referenc es aremissing or do not complywith correct referenci ng style.

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