Analyse the client’s business structure, environment and assess the related business risks for a given financial audit (ILO c as per the Unit Outline).
Auditing & Assurance (BBAC601)
Assignment (Group of Three to Four Students)
Assignment Title: Audit strategy
Assessment Weighting: 30%
Length of assignment paper: maximum 3,000 words.
Due Date: Session 5.2 assignment paper submission via Moodle
I. INTRODUCTIONS
In this assignment you are assumed to be an auditor who has just been appointed by your auditing firm to perform the audit at a particular client. You are in the process of understanding the client and produce part of an audit strategy to help plan the audit for the 2017-2018 financial year, in accordance with the guidance on Australian Standard on Auditing (ASA) 315 (paragraph A25 to A49).
A unit’s intended learning outcomes (ILOs) are one of three inter-related components of a constructively aligned unit, the others being the assessment tasks and the teaching and learning activities. Upon completion of this assessment task you will achieve the ILOs for a unit that you are expected to achieve.
This assessment task directly relates to the following unit intended learning outcome.
- Analyse the client’s business structure, environment and assess the related business risks for a given financial audit (ILO c as per the Unit Outline).
This assessment task directly relates to the following graduate attributes.
- GA1 - Discipline Knowledge and Skills: Students are expected to demonstrate their understanding and application of audit planning, including acquiring an understanding of the company’s business structure and environment, assessing the related business risks to prepare an audit strategy that auditors produce in their conduct of the audit.
- GA2 - Workplace Skills and Values: Students are expected to work cooperatively in a team as well as independently and ethically to achieve the required outcomes in this assessment, which further facilitates their skills and qualities necessary in their professional development.
- GA3 - Communication Proficiency: Students are expected to demonstrate their proficiency in written communication through the use of academic language and the effective and comprehensible analysis and interpretation of numerical data and information to produce an audit strategy in the form of a report with a rigorous structure.
Page 1
II. ASSESSMENT TASK
A. Timeline for assignment: Students are highly recommended to follow this timeline to ensure they achieve their best performance and results.
Session (as per Unit
Outline) Activities Notes
2.2 Students form a group of 3 to 4 students in class. Students choose their group members and place their names on a registration list, if they cannot, the lecturer will get involved in the process.
Students who do not come to class will be informed via Moodle.
3.1 Assignment requirement and instruction are handed out to students. Each group needs to choose 1 company (preferably from the list provided) which is listed on the Australia Securities Exchange (ASX). If the group prefers a company that is not on the list, they need to discuss with the lecturer.
3.2 Marking rubrics are
handed out and discussed Students are guided on how to work on assignment based on the template and rubrics provided.
From 3.2 to
5.1 Students work on their own group assignment
papers Lecturer’s instructions on assignment are discussed in more depth in class for every session and with individual group (via consultation times).
5.2 Assignment submission via Moodle A word file needs to be submitted - 1 file for the whole group. The maximum number of words is 3,000.
B. Choosing a client: The client is chosen by your group.
The client must be (and is highly suggested to be) a public company which has its shares listed on the Australian Securities Exchange (follow the instruction on pages 6 to 8 to choose a company). If you would like to choose any company in your own country, please discuss with your lecturer before making the decision. The reporting period is the 2017-2018 financial year, unless otherwise approved by the unit coordinator. Be aware of the fact that the company that is not on the list must also have information which can be freely publicly accessible via internet. If your chosen client is neither on the list nor approved by your lecturer, your group assignment will NOT be marked. One specific company can only be chosen by a group; therefore the first-in-first-served basis applies. C. References to support your assignment:
Students are expected to dig into the relevant literature to support their ideas/arguments/findings in the assignment. References are cited and presented correctly in accordance with the Victoria university Harvard referencing style.
An important part of references that you can use is the client’s annual report for the relevant year. Other sources of references available such as those on the internet/newspaper or academic journals or other sources are also necessary. However, Wikipedia is NOT considered an academic reference.
Please note that in the financial reports included in the client’s annual reports might have actually been audited. However, to make things simple, please consider this as unaudited financial reports (i.e. the report that have NOT been audited), and therefore, the auditor’s report attached (if any) to the financial report is considered irrelevant. D. Developing an audit strategy:
Below are the issues and topics that I would like you to address in your assignment. Please be noted that the assignment should be divided into 2 parts: Part A contains information relating to the client, most of which can be easily derived from the client’s annual report; whereas in part B you are expected to do some research to provide a deep understanding and assessment of the related information that might have an impact on the future audit work.
1. Assignment format
- Assignment cover sheet with all names listed and declaration signed.
- The assessment must be in one single Microsoft Word document and should be written in 12 point font size and should use 1.2 line spacing between each line.
2. Assignment content
Assignment Title: Audit Strategy Part A: The Client:
2.1 Information about the client
- Name
- Address
- Year of establishment
- Field of operations
- Period of financial report period under consideration
- Type of financial report (consolidated or single)
2.2. Industry, regulatory and other external factor
- Economic condition (upturn or downturn), overall and within the sector
- Law and Regulations applicable to the client
- Level of competition
- Name of main competitors
- Level of government’s support
- Level of demand for goods or services provided
- Is there any current or potential significant barriers to entering the client’s industry or market
2.3 Nature of the entity
- Its operations (i.e. area or types of products or services)
- Major customers
- Is the client heavily dependent on any specific customers or class of customers
- Major suppliers,
- Ownership’s structure and details about corporate governance to some extent (Board of Directors, audit committee, etc.)
- Operational structure (any branches within and outside Australia, location of warehouses, etc.)
2.4 Accounting policy
Main accounting policies may include:
- Policies regarding property, plant & equipment (PPE) (e.g. cost or revaluation model)
- Policies regarding inventory (perpetual or periodic, FIFO, average etc.)
- Policies regarding account receivables
- Policies regarding financial instruments
- Policies regarding intangible assets - Policies regarding revenue recognition.
- Etc.
2.5 Related parties and transactions with related parties
- Controlled entities (names and percentage of financial benefit or voting right)
- Non-controlled entities (names and percentage of financial benefit or voting right)
- Other related parties (names and their relationship with the client)
- Transactions with related parties in the financial year
Part B: Analysis of the client and impacts on the future audit work:
2.6 Changes in accounting policies and the impact of changes
- Any changes in the year compared to prior years and the possible or actual impact of these changes on the financial report.
- Any expected impact as a result of the changes in accounting standards in the future.
- Discuss the potential impact of those identified on the future audit work
2.7 Preliminary analytical procedures
- Provide at least 5 ratios (using formulas provided by the text book or lecture notes) for the current and the prior year. Of the three ratios, three below are compulsory: current ratio, quick asset ratio, debt to equity.
- Comments on the ratios and any anticipated impact on the future audit work.
- Comments on the client’s ability to operate as a going concern.
2.8 Measurement and review of financial performance
- Identify the measurement and review of financial performance (e.g. Director’s remuneration, employees’ performance measure and incentives, loans with conditions such as maintaining a specific liquidity ratios, etc.).
- Discuss the potential impact of those identified on the future audit work.
2.9 Objectives, strategies and related business risks
- Identify the objectives or strategies (any plan to develop new products or services, or to expand the business locations, use of information technology)
- Identify the related business risks (the risk that that an entity’s business objectives will not be attained as a result of external and internal forces brought to bear on an entity)
- Discuss the potential impact of those identified on the future audit work
E. Marking criteria
There is 1 rubric at the end of this document.
Mark will be allocated to individuals based on the “collective marking” principle, which means every member in 1 group will get the same mark in the end.
F. Other issues
Extensions and late submissions
Please reread the section on extensions and late submission in the Unit Outline.
Plagiarism
Please reread the section on plagiarism in the Unit Outline.
Submission requirements
- Assignments must be submitted via the Moodle unit site through the ‘Assignments’ block.
- Keep a backup of your submission. If your assessment goes astray, for whatever reason, you will be required to reproduce it.
- Assignment must be accompanied by a cover page with signatures of all member in the group. An assignment paper without any of those will NOT be marked.
- It is expected that all work submitted, will have been edited for spelling, grammar and clarity.
Instructions for choosing a company: The approved list of clients is as follows:
No Name ASX Code No Name ASX Code
Commercial banking Transportation
1 AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED ANZ 16 AIR NEW ZEALAND LIMITED AIZ
2 COMMONWEALTH BANK OF
AUSTRALIA. CBA 17 VIRGIN AUSTRALIA HOLDINGS LIMITED VAH
3 NATIONAL AUSTRALIA BANK
LIMITED NAB 18 QANTAS AIRWAYS LIMITED QAN
Health Care Equipment & Services Technology Hardware & Equipment
4 ATCOR MEDICAL HOLDINGS
LIMITED ACG 19 AUDINATE GROUP LIMITED AD8
5 GLOBAL HEALTH LIMITED GLH 20 CCP TECHNOLOGIES LIMITED CT1
6 ORION HEALTH GROUP LIMITED OHE 21 Q TECHNOLOGY GROUP LIMITED QTG
Real Estate Energy
7 ASPEN GROUP APZ 22 ORIGIN ENERGY LIMITRED SKY ENERGY LIMITED ROG
8 AXIOM PROPERTIES LIMITED AXI 23 TARGET ENERGY LIMITED TEX
9 AVJENNINGS LIMITED AVJ 24 PETREL ENERGY LIMITED PRL
Insurance Food, Beverage & Tobacco
10 FREEDOM INSURANCE GROUP LTD FIG 25 TASFOODS LIMITED TFL
11 SUNCORP GROUP LIMITED SUN 26 THE A2 MILK COMPANY LIMITED A2M
12 QBE INSURANCE GROUP LIMITED QBE 27 BELLAMY'S AUSTRALIA LIMITED BAL
Software and services Telecommunication Services
13 ALTIUM LIMITED ALU 28 TELSTRA CORPORATION
LIMITED. TLS
14 XERO LIMITED XRO 29 TPG TELECOM LIMITED TPM
15 GOOROO VENTURES LIMITED GOO 30 MACQUARIE TELECOM GROUP
LIMITED MAQ
To find a company which is listed on the ASX (Australia Securities Exchange), click on the link below.
http://www.asx.com.au/asx/research/listedCompanies.do The screen will show you:
If you would like to choose the Australia and New Zealand Bank Group Limited (ANZ) then click on the name, the screen comes like this:
Then click on the link to annual report:
The screen will come up like this:
Then click on Agree and Proceed.
Then you will be able to see the most recent annual report of the chosen company.
Assignment Marking Criteria: The following assignment criteria are designed to give the student a guide as to what markers are looking for in the assignment. Assignment paper: worth 30 marks
Marks
allocated High Distinction Distinction Credit Pass Fail
The quality of assignment presentation 4 (3.5 – 4 marks)
Assignment cover sheet with all names listed and declaration signed.
The assignment is presented in one single Microsoft Word document with the correct title and format as required.
Language is presented in a highly professional way that is easily comprehensible throughout the assignment.
References other than the company’s annual report are used extensively.
References are cited completely appropriately throughout the assignment to support the strategy. (3 marks)
Assignment cover sheet with all names listed and
declaration signed
The assignment is presented in one single Microsoft Word document with correct title and format as required;
Language is presented in a professional way that is easily comprehensible throughout the assignment.
References other than the company’s annual report are used to a large extent and are cited appropriately throughout the assignment to support the strategy.
(2.5 marks)
Assignment cover sheet with all names listed and declaration signed
The assignment is presented in one single Microsoft Word document with correct title and format as required;
Language is presented competently.
References other than the company’s annual report are used to a relatively large extent and are cited relatively appropriately throughout the assignment. (2 marks)
Assignment cover sheet with all names listed and
declaration signed
The assignment is presented in one single Microsoft Word document with correct title and format as required;
The language is sufficiently professionally presented
References other than the company’s annual report are used to a limited extent and are presented to an acceptable level throughout the assignment. (0 – 1.5 marks)
Assignment does not meet the basic requirements of
assignment format;
Language is presented in a way that makes it difficult to be comprehensible;
References and citation are cited inappropriately or the company’s annual report is the only source of information
Page 9
Assignment content – part A – the quality of description of the client’s structure and nature of business. 6 (5 - 6 marks)
Required and relevant information of the client is presented in a succinct and comprehensive way.
At least 4 pieces of information in each section 2.1 to 2.5 on the assignment instructions are provided and presented correctly. (4.5 marks) Required and relevant information of the client is presented in a succinct and comprehensive way.
At least 3 pieces of information in each section 2.1 to 2.5 on the assignment instructions are provided and presented correctly. (4 marks) Required and relevant information of the client is presented in a succinct and relatively comprehensive way.
At least 3 pieces of information in each section
2.1 to 2.5 on the assignment instructions are provided and presented sufficiently correctly. (3 – 3.5 marks) Required and relevant information of the client is presented to an acceptable level
At least 2 pieces of information in each section 2.1 to 2.5 on the assignment instructions are provided and described sufficiently correctly. (0 – 2.5 marks) Required and relevant information of the client is not presented succinctly.
Less than 2 pieces of information in each section 2.1 to 2.5 on the assignment instructions is presented succinctly.
Assignment content – part B – the quality of analysis of the client’s business and environment
10 (8 - 10 marks) The assignment presents a deep understanding of the client’s business and environment which is strongly supported by the relevant references.
Analysis of the client and the anticipated impacts on auditor’s future work are discussed thoroughly and persuasively. This includes discussions on such required aspects as changes in accounting policies, and measurement and review of financial performance, as well as calculations and interpretation of the results of analytical procedures. (7 – 7.5 marks)
The assignment presents a relatively deep
understanding of the client’s business and environment which is supported by the relevant references.
Analysis of the client and the anticipated impacts on auditor’s future work are discussed quite thoroughly and persuasively. This includes discussions on such required aspects as changes in accounting policies, and measurement and review of financial performance, as well as calculations and interpretation of the results of analytical procedures. (6 – 6.5 marks) The assignment presents a clear understanding of the client’s business and environment which is supported by the relevant references.
Detailed analysis of the client and the anticipated impacts on auditor’s future work are competently discussed. This includes discussions on such required aspects as changes in accounting policies, and measurement and review of financial performance, as well as calculations and interpretation of the results (5 – 5.5 marks)
The assignment presents a sufficient understanding of the client’s business and environment which is sufficiently supported by the relevant references.
Analysis of the client and the anticipated impacts on auditor’s future work are sufficiently discussed. This includes discussions on aspects as required such as changes in accounting policies, and measurement and review of financial performance, as well as calculations and interpretation of the results of analytical procedures. (0 – 4.5 marks)
The assignment does not meet the required understanding of the client’s business and
environment
Analysis of the client and the anticipated impacts on auditor’s future work are not sufficiently discussed and supported by the relevant references.
Page 10 of 11
of analytical procedures.
Assignment content – part B – the quality of analysis of the client’s
related business risk
10 (8 - 10 marks) The assignment presents a deep understanding of the client’s understanding and analysis of the client’s related business risk that is strongly supported by the relevant references.
Analysis of the client and the anticipated impacts on
auditor’s future work are discussed thoroughly and persuasively. This includes discussions on such required aspects as client’s objectives and related business risk. (7 – 7.5 marks) The assignment presents a relatively deep
understanding of the client’s understanding and analysis of the client’s related business risk that is supported by the relevant references.
Analysis of the client and the anticipated impacts on
auditor’s future work are discussed quite thoroughly and persuasively. This includes discussions on such required aspects as client’s objectives and related business risk. (6 – 6.5 marks) The assignment presents a clear understanding of the client’s understanding and analysis of the client’s related business risk that is supported by the relevant references.
Detailed analysis of the client and the anticipated
impacts on auditor’s future work are discussed to a large extent. This includes discussions on such required aspects as client’s objectives and related business risk. (5 – 5.5 marks) The assignment presents a sufficient understanding and analysis of the client’s related business risk that is supported by the relevant references.
Analysis of the client and the anticipated impacts on
auditor’s future work are sufficiently discussed. This includes discussions on aspects as required such as
client’s objectives and related business risk. (0 – 4.5 marks) The assignment does not meet the required understanding of the client’s related business risk
Analysis of the client and the anticipated
impacts on auditor’s future work are not sufficiently discussed and supported by the relevant references.
Page 11 of 11
Assignment (Group of Three to Four Students)
Assignment Title: Audit strategy
Assessment Weighting: 30%
Length of assignment paper: maximum 3,000 words.
Due Date: Session 5.2 assignment paper submission via Moodle
I. INTRODUCTIONS
In this assignment you are assumed to be an auditor who has just been appointed by your auditing firm to perform the audit at a particular client. You are in the process of understanding the client and produce part of an audit strategy to help plan the audit for the 2017-2018 financial year, in accordance with the guidance on Australian Standard on Auditing (ASA) 315 (paragraph A25 to A49).
A unit’s intended learning outcomes (ILOs) are one of three inter-related components of a constructively aligned unit, the others being the assessment tasks and the teaching and learning activities. Upon completion of this assessment task you will achieve the ILOs for a unit that you are expected to achieve.
This assessment task directly relates to the following unit intended learning outcome.
- Analyse the client’s business structure, environment and assess the related business risks for a given financial audit (ILO c as per the Unit Outline).
This assessment task directly relates to the following graduate attributes.
- GA1 - Discipline Knowledge and Skills: Students are expected to demonstrate their understanding and application of audit planning, including acquiring an understanding of the company’s business structure and environment, assessing the related business risks to prepare an audit strategy that auditors produce in their conduct of the audit.
- GA2 - Workplace Skills and Values: Students are expected to work cooperatively in a team as well as independently and ethically to achieve the required outcomes in this assessment, which further facilitates their skills and qualities necessary in their professional development.
- GA3 - Communication Proficiency: Students are expected to demonstrate their proficiency in written communication through the use of academic language and the effective and comprehensible analysis and interpretation of numerical data and information to produce an audit strategy in the form of a report with a rigorous structure.
Page 1
II. ASSESSMENT TASK
A. Timeline for assignment: Students are highly recommended to follow this timeline to ensure they achieve their best performance and results.
Session (as per Unit
Outline) Activities Notes
2.2 Students form a group of 3 to 4 students in class. Students choose their group members and place their names on a registration list, if they cannot, the lecturer will get involved in the process.
Students who do not come to class will be informed via Moodle.
3.1 Assignment requirement and instruction are handed out to students. Each group needs to choose 1 company (preferably from the list provided) which is listed on the Australia Securities Exchange (ASX). If the group prefers a company that is not on the list, they need to discuss with the lecturer.
3.2 Marking rubrics are
handed out and discussed Students are guided on how to work on assignment based on the template and rubrics provided.
From 3.2 to
5.1 Students work on their own group assignment
papers Lecturer’s instructions on assignment are discussed in more depth in class for every session and with individual group (via consultation times).
5.2 Assignment submission via Moodle A word file needs to be submitted - 1 file for the whole group. The maximum number of words is 3,000.
B. Choosing a client: The client is chosen by your group.
The client must be (and is highly suggested to be) a public company which has its shares listed on the Australian Securities Exchange (follow the instruction on pages 6 to 8 to choose a company). If you would like to choose any company in your own country, please discuss with your lecturer before making the decision. The reporting period is the 2017-2018 financial year, unless otherwise approved by the unit coordinator. Be aware of the fact that the company that is not on the list must also have information which can be freely publicly accessible via internet. If your chosen client is neither on the list nor approved by your lecturer, your group assignment will NOT be marked. One specific company can only be chosen by a group; therefore the first-in-first-served basis applies. C. References to support your assignment:
Students are expected to dig into the relevant literature to support their ideas/arguments/findings in the assignment. References are cited and presented correctly in accordance with the Victoria university Harvard referencing style.
An important part of references that you can use is the client’s annual report for the relevant year. Other sources of references available such as those on the internet/newspaper or academic journals or other sources are also necessary. However, Wikipedia is NOT considered an academic reference.
Please note that in the financial reports included in the client’s annual reports might have actually been audited. However, to make things simple, please consider this as unaudited financial reports (i.e. the report that have NOT been audited), and therefore, the auditor’s report attached (if any) to the financial report is considered irrelevant. D. Developing an audit strategy:
Below are the issues and topics that I would like you to address in your assignment. Please be noted that the assignment should be divided into 2 parts: Part A contains information relating to the client, most of which can be easily derived from the client’s annual report; whereas in part B you are expected to do some research to provide a deep understanding and assessment of the related information that might have an impact on the future audit work.
1. Assignment format
- Assignment cover sheet with all names listed and declaration signed.
- The assessment must be in one single Microsoft Word document and should be written in 12 point font size and should use 1.2 line spacing between each line.
2. Assignment content
Assignment Title: Audit Strategy Part A: The Client:
2.1 Information about the client
- Name
- Address
- Year of establishment
- Field of operations
- Period of financial report period under consideration
- Type of financial report (consolidated or single)
2.2. Industry, regulatory and other external factor
- Economic condition (upturn or downturn), overall and within the sector
- Law and Regulations applicable to the client
- Level of competition
- Name of main competitors
- Level of government’s support
- Level of demand for goods or services provided
- Is there any current or potential significant barriers to entering the client’s industry or market
2.3 Nature of the entity
- Its operations (i.e. area or types of products or services)
- Major customers
- Is the client heavily dependent on any specific customers or class of customers
- Major suppliers,
- Ownership’s structure and details about corporate governance to some extent (Board of Directors, audit committee, etc.)
- Operational structure (any branches within and outside Australia, location of warehouses, etc.)
2.4 Accounting policy
Main accounting policies may include:
- Policies regarding property, plant & equipment (PPE) (e.g. cost or revaluation model)
- Policies regarding inventory (perpetual or periodic, FIFO, average etc.)
- Policies regarding account receivables
- Policies regarding financial instruments
- Policies regarding intangible assets - Policies regarding revenue recognition.
- Etc.
2.5 Related parties and transactions with related parties
- Controlled entities (names and percentage of financial benefit or voting right)
- Non-controlled entities (names and percentage of financial benefit or voting right)
- Other related parties (names and their relationship with the client)
- Transactions with related parties in the financial year
Part B: Analysis of the client and impacts on the future audit work:
2.6 Changes in accounting policies and the impact of changes
- Any changes in the year compared to prior years and the possible or actual impact of these changes on the financial report.
- Any expected impact as a result of the changes in accounting standards in the future.
- Discuss the potential impact of those identified on the future audit work
2.7 Preliminary analytical procedures
- Provide at least 5 ratios (using formulas provided by the text book or lecture notes) for the current and the prior year. Of the three ratios, three below are compulsory: current ratio, quick asset ratio, debt to equity.
- Comments on the ratios and any anticipated impact on the future audit work.
- Comments on the client’s ability to operate as a going concern.
2.8 Measurement and review of financial performance
- Identify the measurement and review of financial performance (e.g. Director’s remuneration, employees’ performance measure and incentives, loans with conditions such as maintaining a specific liquidity ratios, etc.).
- Discuss the potential impact of those identified on the future audit work.
2.9 Objectives, strategies and related business risks
- Identify the objectives or strategies (any plan to develop new products or services, or to expand the business locations, use of information technology)
- Identify the related business risks (the risk that that an entity’s business objectives will not be attained as a result of external and internal forces brought to bear on an entity)
- Discuss the potential impact of those identified on the future audit work
E. Marking criteria
There is 1 rubric at the end of this document.
Mark will be allocated to individuals based on the “collective marking” principle, which means every member in 1 group will get the same mark in the end.
F. Other issues
Extensions and late submissions
Please reread the section on extensions and late submission in the Unit Outline.
Plagiarism
Please reread the section on plagiarism in the Unit Outline.
Submission requirements
- Assignments must be submitted via the Moodle unit site through the ‘Assignments’ block.
- Keep a backup of your submission. If your assessment goes astray, for whatever reason, you will be required to reproduce it.
- Assignment must be accompanied by a cover page with signatures of all member in the group. An assignment paper without any of those will NOT be marked.
- It is expected that all work submitted, will have been edited for spelling, grammar and clarity.
Instructions for choosing a company: The approved list of clients is as follows:
No Name ASX Code No Name ASX Code
Commercial banking Transportation
1 AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED ANZ 16 AIR NEW ZEALAND LIMITED AIZ
2 COMMONWEALTH BANK OF
AUSTRALIA. CBA 17 VIRGIN AUSTRALIA HOLDINGS LIMITED VAH
3 NATIONAL AUSTRALIA BANK
LIMITED NAB 18 QANTAS AIRWAYS LIMITED QAN
Health Care Equipment & Services Technology Hardware & Equipment
4 ATCOR MEDICAL HOLDINGS
LIMITED ACG 19 AUDINATE GROUP LIMITED AD8
5 GLOBAL HEALTH LIMITED GLH 20 CCP TECHNOLOGIES LIMITED CT1
6 ORION HEALTH GROUP LIMITED OHE 21 Q TECHNOLOGY GROUP LIMITED QTG
Real Estate Energy
7 ASPEN GROUP APZ 22 ORIGIN ENERGY LIMITRED SKY ENERGY LIMITED ROG
8 AXIOM PROPERTIES LIMITED AXI 23 TARGET ENERGY LIMITED TEX
9 AVJENNINGS LIMITED AVJ 24 PETREL ENERGY LIMITED PRL
Insurance Food, Beverage & Tobacco
10 FREEDOM INSURANCE GROUP LTD FIG 25 TASFOODS LIMITED TFL
11 SUNCORP GROUP LIMITED SUN 26 THE A2 MILK COMPANY LIMITED A2M
12 QBE INSURANCE GROUP LIMITED QBE 27 BELLAMY'S AUSTRALIA LIMITED BAL
Software and services Telecommunication Services
13 ALTIUM LIMITED ALU 28 TELSTRA CORPORATION
LIMITED. TLS
14 XERO LIMITED XRO 29 TPG TELECOM LIMITED TPM
15 GOOROO VENTURES LIMITED GOO 30 MACQUARIE TELECOM GROUP
LIMITED MAQ
To find a company which is listed on the ASX (Australia Securities Exchange), click on the link below.
http://www.asx.com.au/asx/research/listedCompanies.do The screen will show you:
If you would like to choose the Australia and New Zealand Bank Group Limited (ANZ) then click on the name, the screen comes like this:
Then click on the link to annual report:
The screen will come up like this:
Then click on Agree and Proceed.
Then you will be able to see the most recent annual report of the chosen company.
Assignment Marking Criteria: The following assignment criteria are designed to give the student a guide as to what markers are looking for in the assignment. Assignment paper: worth 30 marks
Marks
allocated High Distinction Distinction Credit Pass Fail
The quality of assignment presentation 4 (3.5 – 4 marks)
Assignment cover sheet with all names listed and declaration signed.
The assignment is presented in one single Microsoft Word document with the correct title and format as required.
Language is presented in a highly professional way that is easily comprehensible throughout the assignment.
References other than the company’s annual report are used extensively.
References are cited completely appropriately throughout the assignment to support the strategy. (3 marks)
Assignment cover sheet with all names listed and
declaration signed
The assignment is presented in one single Microsoft Word document with correct title and format as required;
Language is presented in a professional way that is easily comprehensible throughout the assignment.
References other than the company’s annual report are used to a large extent and are cited appropriately throughout the assignment to support the strategy.
(2.5 marks)
Assignment cover sheet with all names listed and declaration signed
The assignment is presented in one single Microsoft Word document with correct title and format as required;
Language is presented competently.
References other than the company’s annual report are used to a relatively large extent and are cited relatively appropriately throughout the assignment. (2 marks)
Assignment cover sheet with all names listed and
declaration signed
The assignment is presented in one single Microsoft Word document with correct title and format as required;
The language is sufficiently professionally presented
References other than the company’s annual report are used to a limited extent and are presented to an acceptable level throughout the assignment. (0 – 1.5 marks)
Assignment does not meet the basic requirements of
assignment format;
Language is presented in a way that makes it difficult to be comprehensible;
References and citation are cited inappropriately or the company’s annual report is the only source of information
Page 9
Assignment content – part A – the quality of description of the client’s structure and nature of business. 6 (5 - 6 marks)
Required and relevant information of the client is presented in a succinct and comprehensive way.
At least 4 pieces of information in each section 2.1 to 2.5 on the assignment instructions are provided and presented correctly. (4.5 marks) Required and relevant information of the client is presented in a succinct and comprehensive way.
At least 3 pieces of information in each section 2.1 to 2.5 on the assignment instructions are provided and presented correctly. (4 marks) Required and relevant information of the client is presented in a succinct and relatively comprehensive way.
At least 3 pieces of information in each section
2.1 to 2.5 on the assignment instructions are provided and presented sufficiently correctly. (3 – 3.5 marks) Required and relevant information of the client is presented to an acceptable level
At least 2 pieces of information in each section 2.1 to 2.5 on the assignment instructions are provided and described sufficiently correctly. (0 – 2.5 marks) Required and relevant information of the client is not presented succinctly.
Less than 2 pieces of information in each section 2.1 to 2.5 on the assignment instructions is presented succinctly.
Assignment content – part B – the quality of analysis of the client’s business and environment
10 (8 - 10 marks) The assignment presents a deep understanding of the client’s business and environment which is strongly supported by the relevant references.
Analysis of the client and the anticipated impacts on auditor’s future work are discussed thoroughly and persuasively. This includes discussions on such required aspects as changes in accounting policies, and measurement and review of financial performance, as well as calculations and interpretation of the results of analytical procedures. (7 – 7.5 marks)
The assignment presents a relatively deep
understanding of the client’s business and environment which is supported by the relevant references.
Analysis of the client and the anticipated impacts on auditor’s future work are discussed quite thoroughly and persuasively. This includes discussions on such required aspects as changes in accounting policies, and measurement and review of financial performance, as well as calculations and interpretation of the results of analytical procedures. (6 – 6.5 marks) The assignment presents a clear understanding of the client’s business and environment which is supported by the relevant references.
Detailed analysis of the client and the anticipated impacts on auditor’s future work are competently discussed. This includes discussions on such required aspects as changes in accounting policies, and measurement and review of financial performance, as well as calculations and interpretation of the results (5 – 5.5 marks)
The assignment presents a sufficient understanding of the client’s business and environment which is sufficiently supported by the relevant references.
Analysis of the client and the anticipated impacts on auditor’s future work are sufficiently discussed. This includes discussions on aspects as required such as changes in accounting policies, and measurement and review of financial performance, as well as calculations and interpretation of the results of analytical procedures. (0 – 4.5 marks)
The assignment does not meet the required understanding of the client’s business and
environment
Analysis of the client and the anticipated impacts on auditor’s future work are not sufficiently discussed and supported by the relevant references.
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of analytical procedures.
Assignment content – part B – the quality of analysis of the client’s
related business risk
10 (8 - 10 marks) The assignment presents a deep understanding of the client’s understanding and analysis of the client’s related business risk that is strongly supported by the relevant references.
Analysis of the client and the anticipated impacts on
auditor’s future work are discussed thoroughly and persuasively. This includes discussions on such required aspects as client’s objectives and related business risk. (7 – 7.5 marks) The assignment presents a relatively deep
understanding of the client’s understanding and analysis of the client’s related business risk that is supported by the relevant references.
Analysis of the client and the anticipated impacts on
auditor’s future work are discussed quite thoroughly and persuasively. This includes discussions on such required aspects as client’s objectives and related business risk. (6 – 6.5 marks) The assignment presents a clear understanding of the client’s understanding and analysis of the client’s related business risk that is supported by the relevant references.
Detailed analysis of the client and the anticipated
impacts on auditor’s future work are discussed to a large extent. This includes discussions on such required aspects as client’s objectives and related business risk. (5 – 5.5 marks) The assignment presents a sufficient understanding and analysis of the client’s related business risk that is supported by the relevant references.
Analysis of the client and the anticipated impacts on
auditor’s future work are sufficiently discussed. This includes discussions on aspects as required such as
client’s objectives and related business risk. (0 – 4.5 marks) The assignment does not meet the required understanding of the client’s related business risk
Analysis of the client and the anticipated
impacts on auditor’s future work are not sufficiently discussed and supported by the relevant references.
Page 11 of 11
- Assignment status: Solved by our Writing Team
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