lecture 06 acg - assignment briefing - 2013-14

8/13/2019 Lecture 06 ACG - Assignment Briefing - 2013-14

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ASSURANCE ANDCORPORATE

GOVERNANCEASSIGNMENT 2013 - 14

Neil Rodda

Manchester Metropolitan University Business School

Neil Rodda


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Neil Rodda

Assignment Topic Current issues inexternal auditing:

REFORMING THE PROVISION OF EXTERNALAUDIT SERVICES

Key areas:

! Background to the assignment! Issues to be examined in the assignment! Terminology used in the assignment requirements! Format of answer and hand-in requirements! Other important matters! Further sources of information! Getting startedNote: see Assignment brief attached


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Background to the assignment

Increasing concern about such mattersincluding:

!Company failures/financial scandals/bankingcrisis > reduced public confidence in audit

and auditors reports.

!Auditor independenceand the provision ofother services

!Lack of fair competition and access to entryinto the audit market

!Audit quality are we doing the job properly? Neil Rodda


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Background to the assignment(contd)EC have made far reaching and revolutionary

proposals to deal with these and other issues.

National regulators, audit firms and otherinterested parties are reacting.

!Will they work/are they practical? Whatalternatives are there? Whats happening inother economic regions?

!What impact would the proposals/alternativeshave on ..the audit firms themselves..their

clients..society/the wider economy?

!What do you think will happen .and why? Neil Rodda


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Neil Rodda

SUMMARY OF ASSIGNMENTISSUES TO BE ADDRESSED

! Identification and explanation of the currentproblems

! Explanation, critical appraisal and discussionof the proposals, alternatives, reaction to, andtheir impact on the audit firms, their clientsand society

! Likely future developments (critically justified)! Justified conclusions and finalrecommendations

Note: see Assignment Brief for full details.


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Requirement terminology! Explain give a reason/reasons for something

that happens or conditions that exist (denotesknowledge and comprehension)

! Critically appraise to form an opinion based onreasoned argument as to how successful/effective something is (denotes critical analysis,synthesis and evaluation)

! Critical discussion careful and detailedconsideration of the good / bad aspects ofsomething (denotes application of critical

analysis, effective debate and rationale) Neil Rodda


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Requirement terminology (contd)

! Comment make observations, give opinions! Introduction summarise the content,

objectives and approach of your work

! Conclusions final statements and opinionsto summarise your overall position

! Justified with good reason, ie. based on thefindings in the body of your work. (eg.rational explained, demonstratingappreciation of possible boundaries and

limitations) Neil Rodda


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Format of Answer

! GENERALLY in ESSAY STYLE* - ie. Written prose in 3rdperson, full sentences (1500 words, 5% +/- tolerance)

! TITLE! CONTENTS PAGE! INTRODUCTION! MAIN BODY PARAGRAPHS (* YOU ARE ENCOURAGED TO USE

HEADINGS/SUB-HEADINGS TO LABEL AND ORGANISE THEVARIOUS ISSUES DISCUSSED)

! CONCLUSIONS! BIBLIOGRAPHY/REFERENCES! APPENDICES

Note: USE MMUBS STANDARD REFERENCING SYSTEM Neil Rodda


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Other matters

! ASSESSMENT CRITERIA see assignment brief(also in Course Handbook)

! INDIVIDUAL ASSIGNMENT! OBSERVATION OF THE UNIVERSITYS

PLAIGARISM REGULATIONS IS ESSENTIAL

! FORM OF HAND-IN: HARD- COPY + TURNITINSUBMISSION VIA Moodle

! HAND-IN DATE :MONDAY 20thJanuary, 2014

Neil Rodda


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Neil Rodda

Some areas for further research

! As introductory background reading: ModernAuditing (3rdEdition) Cosserat : Chapters 1, 2, 3and 17 includerelevant introductory referencematerial to some of the issues.

! IFAC Handbook of International Quality Control,Review Other Services and Related ServicePronouncements*

! IFAC Handbook of the Code of Ethics forProfessional Accountants*

! Additional support material, including weblinks,livefeeds, etc. on the Assurance and CorporateGovernance unit section on Moodle*

! Financial press including Accountancy Age, andAccountancy magazines.


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Getting started

! Plan! Literature review! Develop ideas! Drafting! Final written work

Neil Rodda


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Final thoughts! Any questions?

Neil Rodda

lecture 06 acg - assignment briefing - 2013-14

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