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1. The document outlines the criteria for assessing an individual assignment on the future of auditing. It requires the assignment to be typed, well-organized, and written in clear English to achieve a passing grade. 2. Higher grades require a systematic analytical approach and integration of theory and practice. Students must demonstrate understanding of models and concepts, state assumptions, and support arguments with sources. 3. The assignment asks students to critically evaluate a statement about the need for the accountancy profession to re-examine the role of auditing following financial turmoil. Students should consider issues like agreement with the viewpoint; suggestions to improve audit confidence; and the accountancy profession's role in audit reform.

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Parvinder McCartney
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149 views2 pages

Assignment Question

1. The document outlines the criteria for assessing an individual assignment on the future of auditing. It requires the assignment to be typed, well-organized, and written in clear English to achieve a passing grade. 2. Higher grades require a systematic analytical approach and integration of theory and practice. Students must demonstrate understanding of models and concepts, state assumptions, and support arguments with sources. 3. The assignment asks students to critically evaluate a statement about the need for the accountancy profession to re-examine the role of auditing following financial turmoil. Students should consider issues like agreement with the viewpoint; suggestions to improve audit confidence; and the accountancy profession's role in audit reform.

Uploaded by

Parvinder McCartney
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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BM051-3.

5-2-AAS

Individual Assignment

Page 1 of 2

Assignment Assessment Criteria


1. To address the subject satisfactorily, a typed format is mandatory. Pass assignments are
expected to be legible, tidy, well organized and written in clear understandable English.
2. High grades [70%, 75%,+80%] need to demonstrate sustained coherent analytical ability.
A systematic approach to analysis and evaluation is required for grades 60% to 85%, for
grades at the higher end of the scale, integration and synthesis is a requirement.
The quality of the arguments used to develop and support prescriptions/recommendations
are the essential test of integration.
3. Evidence of reading and some understanding of models and concepts are needed to
achieve a pass grade [50%]. Integration of theory and practice is expected for any grade
above 65%.
4. You are expected to clearly state any assumptions you make, and support statements and
theories by referencing to appropriate sources. (This is essential for higher grades but
does not necessarily prejudice a pass mark [50%] if it is missing).
5. The assignment is to be submitted as a single written report and word limit 2000 to 2500
words.
6. As well as submitting a hard copy of your assignment you are required to submit the
electronic version. Unless both, hard copy and electronic versions are provided it will not
be counted as submitted.
The Future of Audit
The audit profession is at a crossroads. As the role of the auditor comes increasingly under the
spotlight following recent global financial turbulence, ICAEW* believes that it is vital that the
accountancy profession re-examines the role of audit and assurance and comes up with
constructive, practical ways which both can improve and continue to benefit businesses, the
economy and society in the 21st century.
Taken from: http://www.icaew.com/en/archive/technical/audit-and-assurance/the-future-of-audit
*ICAEW Institute of Chartered Accountants in England and Wales

APU Level 2

Asia Pacific University of Technology & Innovation

201609

BM051-3.5-2-AAS

Individual Assignment

Page 2 of 2

Required:
Critically evaluate the above statement. You may wish to consider issues such as:
a) Do you agree with the viewpoint expressed?
(8 marks)
b) Give examples of recent suggestions that have been made to improve the confidence of
businesses, the economy and society in auditors.

(30

marks)
c) What should the role of the accountancy profession be in relation to audit reform? What
are the tensions around this?

(8 marks)

d) Is the problem just one of audit failure?

(4

marks)
(Please note that the marks shown above are indicative only. Marking of this question is flexible
and will depend on how you develop your arguments. Credit will be given for any valid
response.)
(Total 50 marks)

APU Level 2

Asia Pacific University of Technology & Innovation

201609

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