Assignment 1 Qu 2017 S2 ACFI3005 Audit and Assurance.doc

Assignment 1 Qu 2017 S2 ACFI3005 Audit and Assurance.doc -...

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ACFI3005 Auditing and Assurance Semester 2, 2017 Newcastle Precinct & Ourimbah Assignment 1 Du e : 5pm, August 22 Weighting : 5% of final mark. Submission: Turnitin by 5pm August 22 and submit a printed copy of the assignment in your registered workshop. Question: You are the audit manager of the audit firm Accuracyaudits & Co, allocated to the audit of the companies described below. You are required to prepare a business email addressed to the audit partner M/S Sarah Chekoff with the email address of [email protected] to discuss the potential independence issues associated with the various companies. For each of the following company situations your email should: a. Review each company’s situation and describe any potential threats, identifying the relevant section of the Professional Code of Ethics and; b. Propose any recommendations to ‘safeguard’ Accuracyaudits & Co against the potential independence threats you may have identified. 1. Ted Bear has joined the audit team in a senior audit role. In your discussions with him he
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