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Auditing & Assurance BAP41 Trimester 3 2018 GROUP ASSIGNMENT Student Id NumberStudent Name Student Id NumberStudent Name Student Id NumberStudent Name Student Id NumberStudent Name Student Id NumberStudent Name Presentation:10-15 PowerPoint Slides (max 15 Minute presentation) Creative:10-15 minutes Date Due:Excel Workings Week 10 Creative due in Week 11 Presentation Weeks 10 or 11 as agreed with Lecturer Instructions · This is a Group Assignment of 3-5 members (or as agreed with your Lecturer) · Write each of your Student Names and Numbers at the top of this page IN THE BOX PROVIDED · Groups are to choose between a Presentation OR a Creative option and inform the Lecturer on their choice. · All groups are to submit their ‘Group Assignment Self and Peer Evaluation’ (attached in Moodle). Marks will only be released once these have been received. Page 1 of 1 Auditing & Assurance: BAP41 Trimester 2 2018:Creative Approach or Presentation Assignment Submission:Week 10 (PowerPoint Slides and Excel Spreadsheet) Week 11 (Creative Attempt) Week 10, 11 or 12 (Presentation) Submission Method:via Moodle or USB or other method agreed with your lecturer Marks: The assessment will be reduced to 25 marks. Deliverables to be submitted: · Excel spreadsheet with all relevant analytical review procedures undertaken · 2 page analysis / Audit approach given findings from analytical review procedures · If presenting presentation slides supporting a 10min presentation highlighting your findings · If preparing a creative – creative highlighting the key findings from your review and research Please note that you are not required to complete both a presentation and creative, select only one. 1. Group Presentation due Date and Submission As per the subject description, a creative attempt or in class group presentation constitutes 10% of the total assessment in this subject. Due date is week 10 or 11 in class time (refer above). · Groups will be formed / allocated by week 5 (this is the responsibility of the individual student). · Group presentation time will be allocated from week 5. Students are required to complete the assessment in groups of 3 - 5 and do not have an automatic entitlement to adopt some other arrangements without prior permission from the lecturer. Each group is required to follow the creative / presentation / analysis assessment criteria refer section (9) & (10) and each member of the group needs to participate in the presentation (if that option is selected). PowerPoint slides (three slides on one page) are to be submitted in the presentation time in class before presentation. 2. Objective BAP41 covers a range of important theory and practice of issues in Auditing & Assurance. The main purpose of this assessment is to provide students with the opportunity to extend their understanding and practical application in a key audit skill (Analytical Review Procedures) which are used throughout an audit and in practice have been deemed to be effective in highlighting potential earnings management issues. 3. Assessment criteria In assessing the creative / presentation and analysis consideration will be given to overall neatness, completeness and quality of the creative or presentation, timeliness of submission and demonstrated application of the core skills required to undertake effective Analytical Review procedures. You will acquire a range of excel skills such as writing formulae to perform accounting analytics and summarising your results using pivot tables, graphs and slicers. Those skills will enable you to prepare an accounting analytics dashboard which will enable reviewers to understand your approach, analysis and conclusions. You will be required to analyse the financial information of ABC Learning over the period 2000 - 2007 using Analytical Review techniques such as DuPont Analysis, Common Size, Trend Analysis and the Beneish M-Score models (refer Week 4 lecture) to identify: · any potential earnings manipulation · in which accounts and · for which years. Once the Group has completed the analytical procedures you are required to submit a preliminary audit approach highlighting the key material accounts which will require further investigation and the audit approach you believe will be appropriate given your analysis. This analysis should not be more than 2 pages in length (Arial 10 Font, 1.5 spacing 2.5cm margins). Clarity Presentations are expected to be made in a clear, concise and understandable manner. It is required that an outline be made at the inception of the presentation to show introduction, body and conclusion of the presentation. Presenters’ ability to comply with the outline will be assessed. Presentation Tools It is required that Slides must be used. Non-compliance will result in a fail grade. Other visual aids are encouraged to be used (i.e. charts, graph etc.). Duration Students should comply with the duration requirement as per unit outline. The presentation time should not exceed 10 minutes. Presentation too long or too short will be penalised. In assessing the Creative the following criteria will be used: · Research Effort · Understanding and critical reflection · Originality / creativity · Effectiveness of Message The creative effort should be no more than 10min in duration. For the detail please refer to attached Rubric’s. 4. Group Presentation: Students will be required to act as an Audit Senior involved in the Audit of ABC Learning who is completing the Audit Planning and is responsible for the effective Analytical review of the historical financials covering the years 2000 - 2007. The results of your review will need to be summarised for your Audit Manager highlighting areas of concern and recommendations in terms of changes to the Audit Approach. 5. Plagiarism Taking another person’s ideas, words or inventions and presenting them as your own without acknowledging your sources (citing or referencing), is plagiarism. Paraphrasing or rewording another person’s work, without acknowledging its source, is also plagiarism. If you are identified with plagiarism assessment mark will be zero. 6. Referencing Correct referencing is important for two main reasons. The first is to enable the reader to access source material you have relied upon. The other is to ensure that you have properly recognized the contribution of the work of others to your assignment. If you do not do this properly, you are engaging in plagiarism—the theft, intentional or otherwise, of the intellectual or creative work of others. UBBS will not tolerate plagiarism. It is therefore important that you understand how to avoid it. It is important that you adopt a consistent, and adequate, referencing system. Reference system to be used Harvard Anglia. 7.Groups: Your group will be required to select a Group Lead who will be the contact person for the group and lecturer. The Group Lead will also submit the Group Assignment on behalf of everyone in the group. Requirements: Group Oral Presentations (50 marks reduced to 10 Marks) From week 5, you will be allocated a group for your Group Presentation. These selected groups will be either self-selected or allocated by lecturer. You will work with the other members and provide a 10 minute presentation in either week 10 or 11 covering your findings, analysis and impact on Audit Strategy. All members of the group must participate for marking and your presentation scores are individual. 8.Analysis Requirements and Layout: The PowerPoint presentation (Analysis) is to be in a format acceptable for a professional presentation. The Analysis should include the following sections as a minimum. 1) Introduction (this should state what the purpose of the report is, what Accounting theme is being explored, which company is being reviewed (if applicable), which standards / criteria are being applied etc.) 2) Literature Review (review the relevant Auditing standards impacting your approach) 3) Application of DuPont Analysis, Common size, Trend analysis and Beneish M-Score 4) Analysis (this is the main body and provides your research findings) 5) Summary of Findings (this section highlights the key findings from your analysis) 6) Recommendations (this section summarises YOUR key recommendations and emphasises your JUDGEMENT) 7) Conclusion (this section should reflect upon what you stated in the introduction i.e. what you have done and what you found. The conclusion is about closing the analysis and NOT introducing new material.) 8) Appendices (These are optional and can include any additional findings and materials you believe are relevant) 9) Referencing (Harvard Anglia compliant) You may find it very useful to make a table using these 9 points as a starting point to review your GROUP’s Analysis. You should also use the attached RUBRIC (refer Section 9 and 10) to self-assess how well your Analysis reaches the targeted outcomes. 9.Analysis Rubric Criteria HD HD Distinction Credit Pass Fail Fail Knowledge (25%) Demonstrated SOPHISTICATED knowledge and understanding. Demonstrated COMPREHENSIVE knowledge and understanding. Demonstrated a DETAILED and REASONED level of knowledge and understanding. Demonstrated SOME level of knowledge and understanding. Demonstrated a LIMITED but RELEVANT level of knowledge and understanding. Demonstrated a GENERAL level of knowledge and understanding. Lacked any real knowledge or understanding. Judgement (15%) Presented a SOPHISTICATED and CRITICAL judgement with relevant supporting information which identified the judgement as ground-breaking. Presented a COMPREHENSIVE judgement with relevant supporting information. Attempted to present a reasoned judgement with relevant supporting information. Provided some relevant judgement with supporting information. Provided limited judgement with relevant information. Provided some basic information. Did not provide any basic or relevant information. Analysis (30%) SOPHISTICATED /CRITICAL analysis of each of the key issues identified (re Earnings Management) and impacts on audit strategy. Analysis reflects excellent engagement with the context of the theme selected and links to relevant theory / literature. COMPREHENSIVE discussion of each of the key issues identified (re Earnings Management) and impacts on audit strategy. Analysis reflects very good engagement with the context of the theme selected and links to relevant theory / literature. Provided detailed and reasoned discussion of each of the key issues identified (re Earnings Management) and impacts on audit strategy. Analysis reflects good engagement with the context of the theme selected or relevant theory / literature. Provided some detailed discussion of each of the key issues identified (re Earnings Management) and impacts on audit strategy. Analysis reflects some engagement with the context of the theme selected or relevant theory / literature. Simple discussion of each of the key issues identified (re Earnings Management) and impacts on audit strategy. Analysis reflects limited engagement with the context of the theme selected or relevant theory / literature. Poor Evaluation or analysis. Significant gaps in the analysis and lack of understanding of the issues. Little or no evaluation or analysis. Terminology (5%) Integrated and applied specific, accurate and relevant terminology Consistently throughout applied accurate and relevant terminology Mostly applied accurate and relevant terminology Used some relevant and appropriate terminology Limited use of relevant terminology Used little or inaccurate terminology Used no relevant and inaccurate terminology Response (15%) Presented a sustained, logical and well-structured response applying the Analysis structure points. Presented an extended, logical and structured response applying the Analysis structure points. Presented a logical and structured response applying the Analysis structure points