professional skeptism

7/18/2019 Professional Skeptism

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ACCG 925 - AUDITING & ASSURANCE SERVICESSemester 2, 2015

Group Assig me t 25!Due" #ee$ % - 2% Septem er 2015 't (pm

T)is 'ssig me t is to e *omp+ete i t)e groups o our .(/ i e .5/ stu e ts #)i*))' e '+re' ee orme .prim'ri+ / #it)i our semi 'r *+'ss3 Semi 'r +e' ers #i++)' e i '+ise ' re*or e group et'i+s uri g t)e 4ee$ 2 & semi 'rs3 Note t)'t itis our respo si i+it to *o t'*t t)e U it Co e or i ou 're ot i ' group t)e eo 4ee$ 3

“The application of professional skepticism by auditors is important to audit quality.However, various definitions of, and perspectives on, professional skepticism exist in theauditing literature. We propose a professional skepticism continuum!! that acknowledgesthat the appropriate application of professional skepticism will depend on the risk characteristics of the account and assertion. We also lay out the different structural levelswhere professional skepticism is applied and where threats to its appropriate application canarise. We argue that regulation can actually threaten the appropriate application of auditor skepticism if regulation and"or inspection focus is not properly aligned with relevant auditrisks. #inally, we provide some ideas and recommendations on how the application of

professional skepticism might be enhanced on the part of auditors, as well as how other keystakeholders can contribute to its effective application$ %&lover ' (rawitt, )*+ , p. +-.

&lover, . /., ' (rawitt, 0. #. %)*+ -. 1nhancing 2uditor (rofessional kepticism3 The(rofessional kepticism 4ontinuum. Current Issues in Auditing , 5%)-, pp. +6+*.

Re6uire " Dis*uss t)e ' o e st'teme t re ie#i g rese'r*) p'pers pu +is)e si *e200%3 I *+u e t)e o++o#i g i our is*ussio "

• The definition and application of professional skepticism•

#actors that may impact on professional skepticism• 2udit quality ' professional skepticism• Threats to professional skepticism• 1nhance auditor professional skepticism

(age 1 of 5



Import' t i orm'tio reg'r i g t)e 'ssig me t is 's o++o#s"

/inimum number of academic references 6 The use of at least seven academic referencesmust be appropriately used and referenced.

7ength 6 /aximum +* pages. The page limit excludes the reference list. #ont si8e must be +)with one and a half line spacing using 2rial or Times 9ew :oman.

;ne ubmission of the assignment must be made for each group by the due dateelectronically via the i7earn online system %Turnitin-.

The assignment should clearly state the names and student numbers of all group members andthe name of their seminar leader including the seminar day"time %refer to the groupcoversheet which is available on ilearn under assignment section-.

The assignment will be assessed using the marking rubic %included in this document-. Themark allocated for the assignment will be based on the individual contributions made by

group members. 2ll groups are to complete and sign the “&roup 2greement #orm$ prior tocommencement of the assignment. <This form needs to be retained by the group and may berequested by the =nit 4onvenor.> =pon completion of the assignment, each group member isto complete and email the “ elf and (eer 2ssessment #orm$ to the =nit 4onvenor by 5pm,29 September 2015 . ?oth forms are available on ilearn.

&roups who have not submitted the assignment prior to the deadline will receive a late penalty except for cases in which a 0isruption to tudies application is made and approved.

2ssignments not received at this time will result in a penalty of )*@ of the total awardedmarks per ) hour period or part thereof that the submission is late. #or example, )A hrs late

will incur a *@ late penalty. 2ssignments will not be accepted later than B) hours after thedue date and time except for cases in which a 0isruption to tudies application is made andapproved.

Cncorrect submissions %e.g. submitting the wrong file"old version"assignment for a differentunit, etc.- will also be awarded a mark of 8ero %*-. Ct is your responsibility to ensure that yousubmit the correct file. Dou may resubmit until the due date and time. 2ny submission on thedue date and time will be taken to be final. 9o further resubmission will be allowed.

9o complaints in relation to non6performing"absent group members will be considered on or after the due date and time. 2ll such complaints should be directed to your seminar leader in

the first instance, and subsequently to the =nit 4onvenor if these remain unresolved.4omplaints must be brought to our attention early in the semester.

(age 2 of 5



(3 ?iter'* &#ritte*ommu i*'tio=% m'r$s>

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There is a clear organisation tothe assignment, and transitionsare smooth and effective. Tone isappropriately formal"academic.(aragraphs are effectivelystructured and integrated arounda central idea. (unctuation,spelling and grammar are almostcompletely correct, including

proper tenses and voice.entences are concise and wordchoice is precise, with nonbiasedlanguage. (roper paraphrases areusually used, but quotation marksare used appropriately asnecessary.

Writing is appropriatelyformal"academic in tone,language is unbiased, andsentences are generally concise.Transitions are generally there butare occasionally not smooth.(aragraphs may occasionallystray from the central idea or lac kintegration. There may be minorerrors of vocabulary, grammar,

punctuation, or spelling.(araphrases are usually used, andquotation marks are usedappropriately as necessary. Theliteracy and writing errors in theassignment do not affectreadability.

;rganisation is less adequate.Transitions are sometimes there, andthose that are there could be improved.Tone is occasionally colloquial, and

bias in language may be apparent.(unctuation, grammar and spelling areusually correct, but there may beconsistent minor mistakes. ignificant

presence of confusing or redundantsentences or paragraphs. Word choiceis sometimes vague. The authorincludes many quotes or improper“paraphrases$ that may constituteunintentional plagiarism. The literacyand writing errors make the assignmentdifficult to follow on occasion.

;rganisation is confusing.Transitions are missing or arevery weak. Tone isconsistently too informal.There are punctuation,grammar or spelling mistakesthroughout the assignment./ost sentences and

paragraphs are confusing orredundant. Word choice isvague. The authors stringtogether quotations withoutenough original input. Theliteracy and writing errors aresuch that it is difficult toknow what the writers aretrying to express.

9o worksubmitted" norelevantinformation

53 @rese t'tio& ARVARDst +ere ere *i g=5 m'r$s>

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The assignment say is presented"organised as required.:eferencing and presentationconforms to current edition ofH2: 2:0 style. The title page,in6text citations and reference

page are in H2:2:0 style withno mistakes.

There are occasional and mostlyminor errors of H2: 2:0 stylereferencing %in text and referencelist- and presentation.

:eferencing %in text and reference list-and presentation is recognisable as thecurrent edition of H2:2:0 style butthere are errors and inconsistencies.

:eferencing %in text andreference list- and

presentation consistentlyincorrect and"or non6H2: 2:0 style applied.

9o worksubmitted" norelevantinformation

Tot'+" :50

(age ( of 5



(age 5 of 5

professional skeptism

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