BUSN7054 AUDITING & ASSURANCE SERVICES, writing help

BUSN7054 AUDITING & ASSURANCE SERVICES
Due by 12noon 8 October 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online
Total marks of assignment: 105 marks
Weighting of assignment: 15%
Requirements (answers should be succinct and to the point)
• As detailed below, you are required to complete five questions:
– 1: Collect key information about Harris Technology Group Limited (10 marks);
– 2: Study Harris Technology Group Limited, its business, the industry, and assess
business and audit risks (40 marks);
– 3: Using analytical procedures to assess audit risks and their impact on your audit
plan (20 marks);
– 4: Substantive test: identify and test accounts at risk, with reference to the
accounting policies stated by Harris Technology Group Limited and that apply to
the accounting issues identified (35 marks);
• Your completed assignment will consist of the following: the RSA Assessment Cover
Sheet (available from the course website or school office), the BUSN7054 Assignment
Answer Sheets (i.e. the group assignment working file in the folder).
• Your assignment is to be completed in a group of 3 or 4 students.
• Your answers should be sufficient and succinct and should be within 1,500 words limit
(with +/- usual 10% allowance).
• Your assignment should be typed with the main text to be in 12 font size. An electronic
copy of your assignment should be submitted on Wattle, and the hard copy of your
assignment shall be submitted through the Assignment Box located at the Research
School of Accounting office. The assignment is due by 12noon 8 October 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online. All
assignments received after 12noon on the due date will incur penalties. Penalties for late
submissions are detailed in the BUSN7054 Course Outline.
• Only one electronic copy and one hard copy of the assignment are required to be lodged
per group, but all group members must sign the RSA Cover Sheet (you do not need to
scan the cover sheet for the electronic copy but you will need to add in a cover sheet in
word format for the purpose of identification).
Good luck and have fun!!
2
Question 1 (10 marks)
Go to Wattle to download the 2017 financial year annual reports of Harris Technology Group
Limited, and fill in the following table.
Note: The annual reports as well as other information may be found on the DatAnalysis Premium on
the university library website as below or other websites. You will need your student I.D. and
password to access the database.
http://datanalysis.morningstar.com.au.virtual.anu.edu.au/af/dathome?xtm-licensee=datpremium
Information Required Harris Technology Group Limited
ASX code (1 mark)
Listing date (1 mark)
Industry (1.5 marks)
Number of subsidiaries (1.5 marks)
Financial year end (0.5 mark)
Audit firm (1 mark)
Audit partner (1 mark)
Audit opinion date (0.5 mark)
Total financial report audit fees (1 mark)
Total other auditor remuneration (1 mark)
Question 2 (40 marks)
Using the table provided below to prepare a memo for Harris Technology Group Limited:
(a) Outline four factors that may have impact on business risks (with reference to your
information source, and, if from the annual report, refer to the page number). (2*4=8 marks)
(b) Identify four factors that may have impact on inherent risk or control risk (with reference to
your information source, and, if from the annual report, refer to the page number). (3*4=12
marks)
(c) For each factor identified from (b), comment on accounting issues identified and management
assertions affected (5*4=20 marks)
Client
Harris Technology Group Limited
Period-end Done by
Business risks facing Harris Technology Group Limited
(Bullet-point descriptions of individual risks here)
Audit risk factors to be considered
(Bullet-point descriptions of individual factors here)
Accounting issues identified and related assertions affected
For the bullet-point descriptions of each factor identified above, comment as below:
Accounting issue:
3
Key Assertion affected:
Question 3 (20 marks)
(a) Calculate the following financial ratios for Harris Technology Group Limited (including
the calculations as an appendix). (0.5*16=8 marks)
Ratios 2017 2016: 2024 – Do my homework – Help write my assignment online
Current ratio
Quick asset ratio
Receivables turnover ratio
Return on assets
Return on equity
Debt/Equity
Debt/Asset
Net profit ratio
(b) Comment on Harris Technology Group Limited’s liquidity, activity, profitability, and
solvency for the financial year 2017, in comparison with ratios in 2016: 2024 – Do my homework – Help write my assignment online, based on the ratios
from (a). Explain how the ratio analysis may have influenced the audit plan. (3*4=12 marks)
Question 4 (35 marks)
Read through the notes to the Financial Statements for Harris Technology Group Limited, and
then
(a) Identify four accounts you are most concerned about and explain why you are concerned.
(3*4=12 marks)
(b) Design a preliminary audit plan by providing one audit procedure to test the assertion most
likely at risk for each of the four accounts you are concerned about (make sure you tailor
your procedures to your answers for (a) and the specific accounting policies of the company).
Present the audit program in a working paper format. (4*4=16 for audit procedures, 5 marks
for working paper presentation, 2 bonus marks for the clarity, total 23 marks)
THE END

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