ACCT30004 Suggested Solution - Week 3_2-2015

ACCT30004 Suggested Solution - Week 3_2-2015 - ACCT30004...

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Tute Solution Week 3_2 2015.Docx Updated – 13 August 2015 1 ACCT30004 Auditing and Assurance Services Suggested Solutions and Advice Week 3 Advice Students should aim to use the Discussion Questions and the Tutorials to assist the development of the skill of problem solving. We suggest that you develop a step-by-step approach to answering questions and solving problems. This involves looking at the process to the answer, not just the answer. A possible approach to ethical questions might be: 1. Identify the facts 2. What threat(s) are created in the situation? 3. What ethical standards or principles are involved here? What are the possible issues created by the threat(s)? 4. Consider any current safeguards, or what safeguards would limit the threat created in the situation. 5. Conclude what the outcome(s) are likely to be based on the actions identified, or consider what options are available to the auditor and the most appropriate actions in the circumstances. This may also involve the consideration of the effect of the actions on others. An issue that some students face in answering these types of questions is a desire to ‘create an outcome’ or ‘prove a breach’. That is, they sometimes aim to find a breach of the code of ethics where none exists, or want to ‘prove’ that one action by the party in the question leads to a breach of all aspects of the code of conduct. Be careful not to fall into this trap.
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  • One '13
  • MrTrevorTonkin
  • Ethics , outstanding fees, Tute Solution

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