Sunway Business School ACC 3044 April 2023 Examination

SUNWAY BUSINESS SCHOOL

COURSEWORK (ASSIGNMENT) INSTRUCTIONS FOR THE BACHELOR OF

SCIENCE (HONS) IN ACCOUNTING AND FINANCE

ACADEMIC SESSION : APRIL 2023 SEMESTER

SUBJECT : ACC 3044 ADVANCED AUDIT & ASSURANCE
EXAMINATION : JUNE 2023
SUBMISSION DATE : 5pm (MALAYSIAN TIME) ON

SUNDAY, 18th JUNE 2023

INSTRUCTIONS TO CANDIDATES

a) This coursework will contribute 30% to the Final grade.

b) The deadline for submission of the coursework is to be strictly adhered to. No

extension of time will be allowed except in extenuating circumstances, e.g.
medical or compassionate reasons. Students who wish to apply for an extension
of time for the submission of assessment after the due date and time, shall put in
the request in writing as soon as possible (within 2 days from the due date),
together with the validated documentary evidence to support the application. If
the coursework is submitted after the due date, and without approval for
extension, the following penalty will be imposed:

i) submission after the deadline but within one week, will be accepted for a
maximum of 40% of the original marks allocated.

ii) submission more than one week after the deadline, will be regarded as a non-
submission and shall be marked at zero (ie all marks allocated for the
coursework, shall be lost).

c) Students are required to form separate groups of up to a maximum of FOUR, to

undertake the coursework, which must be presented in the form of a written
report:

i) The report must be typewritten, in Word file format, using Font: Arial, Size: 12
points, with Spacing:1.5.
Page 1 of 8
Sunway Business School ACC 3044 April 2023 Examination

ii) The completed report must be submitted to eLearn Turnitin. ONLY upload the
report. Appendices and references are NOT to be uploaded. Acceptable turnitin
similarity index is not more than 10%.

iii) The written report should not exceed four thousand (4,000) words, with 10%
allowance higher or lower. Total word count should be noted at the end of the
report.

iv) The full completed report, together with assignment cover sheet, (Appendix 1)
which includes the name of the company selected and the group member’s
names and student IDs, references, appendices etc, must be submitted on email
to the lecturer by the same submission dead line of 5pm (Malaysian time) on
Sunday, 18th June 2023.

v) All detailed tables must be added as an Appendix to the report and must not be
included in the main body of the report.

vi) Marks will be awarded based on an assessment of the accuracy,

comprehensiveness, cohesiveness, professionalism and overall quality. In
addition, marks will be allocated for content, written presentation and referencing.

vii) An overall group mark will be awarded to each student. However, the lecturer
reserves the right to provide a reduced mark where a student has provided a sub-
standard contribution to group activities.

viii) All references should be provided using the APA referencing style.

ix) A report rubric is attached as Appendix 3, as a guide.

ACADEMIC MALPRACTICE

Plagiarism, whether inadvertent or deliberate, shall include the following:

a) Word for word copying of sentences or whole paragraphs from one or more
sources, or presenting substantial extracts from books, articles, theses, other
unpublished works such as working papers, seminar and conference papers,
internal reports, computer software, lecture notes or tapes, without clearly
indicating their origin;

b) Using very close paraphrasing of sentences or whole paragraphs without due

acknowledgement in the form of reference to the original;

c) Submitting another student’s work in whole or in part; or

d) Use of other person’s ideas, work or research data without acknowledgement.

Page 2 of 8
Sunway Business School ACC 3044 April 2023 Examination

Collusion, whether inadvertent or deliberate, shall include the following:

a) Submitting an “individual assignment” that was jointly prepared by the

candidate and any other third party, e.g. other students, family members,
professionals or other tutors/lecturers;

b) Submitting a “group assignment” that was jointly prepared by the group and
other third party, e.g. other students, family members, professionals or other
tutors/lecturers; or

c) Copying each other’s work and passing it off as an individual effort.

Please refer to the Student Handbook for Undergraduate Programs for details
about academic malpractice penalties.

__________________________________________________________________

COURSEWORK INSTRUCTIONS

This coursework is developed as an integral part of the subject to enable students

to apply what they have learnt in the course in a real-world scenario and to
exercise critical analyses in developing viable recommendations and making sound
conclusions. The objective of the coursework is to enable students to understand
and apply the key steps in undertaking a risk-based audit in accordance with
Approved Auditing Standards. Students will be evaluated based on their ability to
assess the risk, evaluate the results, develop the relevant tools, design the audit
strategy and articulate arguments in support of their recommendations and
opinions in a comprehensive written group report.

a) On a review of available official company sources and external literature,

undertake an audit risk assessment, formulate appropriate audit strategies and
design audit procedures in accordance with Malaysian Approved Auditing
Standards for the financial statements audit of a selected public listed company.
Please refer to the attached list of companies and select a company for the group.

b) These companies are listed under the construction sector of Bursa Malaysia and
information on their companies and their financial statements are publicly available.

c) A company on the list, Appendices 2 and 2A, can only be selected by ONE
group. Once the group has been formed, proceed to select the company using the
Excel link, so that the company cannot be chosen by any other Group.

d) The written report should include the following components:

i) Evaluation of the selected company’s inherent risk in accordance with the

Malaysian Approved Standards on Auditing A1 315, understanding the entity and
its environment and assessing the risks of material misstatements;

Page 3 of 8
Sunway Business School ACC 3044 April 2023 Examination

ii) Assessment of the Control Risk, Audit Risk and Detection Risk, applying the
Audit Risk Model in accordance with paragraph 10 of Malaysian Approved
Standards on Auditing AI 315;

iii) Analytical review of the financial statements in accordance with Malaysian

Approved Standards and critically analyze the results;

iv) Formulate the audit plan, incorporating appropriate audit strategies, materiality
threshold and sampling criteria in accordance with Malaysian Approved
Standards on Auditing. The audit procedures to be set in response to assessed
risks, with justifications;

v) Preparation of appropriate audit programs incorporating audit procedures for

test of controls, analytical review, substantive test of transactions and tests of
balances for any two business cycles;

vi) Development of an appropriate preliminary audit opinion, including key audit

matters, based on the MIA audit and assurance practice guide 1 (Auditor’s report
on financial statements prepared in accordance with the Malaysian Financial
Reporting Standards (MFRS) framework and Companies Act 2016) with the
necessary justification.

vii) Review and highlight the company’s top three material topics as guided by the
global standards for sustainability reporting (GRI). Explain the impact of these
three topics on the entity’s activities and operations and how the company meets
the information demands of their stakeholders.

Page 4 of 8
Sunway Business School ACC 3044 April 2023 Examination

APPENDIX 1

ASSIGNMENT COVER SHEET

PROGRAMME : Bachelor of Science (Hons) in Accounting and Finance
SUBJECT CODE AND : ACC 3044 - Advanced Audit & Assurance
TITLE
ASSIGNMENT TITLE : Coursework – Group Assignment

LECTURER : Choo Sook Yin ASSIGNMENT DUE 18th June 2023

DATE:

STUDENT’S DECLARATION
1. I hereby declare that this assignment is based on my own work except where
acknowledgement of sources is made.
2. I also declare that this work has not been previously submitted or concurrently submitted
for any other courses in Sunway University/College or other institutions.
[ Submit “Turn-it-in” report (please tick √): Yes _____ No _____ ]

NO. NAME STUDENT ID SIGNATURE DATE

NO.
1.
2.
3.
4.

E-mail Address / Addresses (according to the order of names above):

1. 3.
2. 4.

APPROVAL FOR LATE SUBMISSION OF ASSIGNMENT (If applicable)

IF extension is granted, what is the revised due date?
__________________________________________

Signature of Lecturer: _______________________ Date: ____________________________

Marker’s Comments:

Marks and / or Grade Awarded : _____________________________

Date : _____________________________

Page 5 of 8
Sunway Business School ACC 3044 April 2023 Examination

APPENDIX 2 and 2A

List of COMPANIES (2 pages) – Will be distributed on Sunday, 8 th

May 2023

Page 6 of 8
Sunway Business School ACC 3044 April 2023 Examination

APPENDIX 3

Page 7 of 8
 Sunway Business School ACC 3044 April 2023 Examination

(This paper contains NINE pages, including cover page, instructions and list of
construction sector companies)

~ END OF PAPER~

Page 8 of 8