Reference no: EM133315957
Assignment 1: Keeping track of things
You are a Senior Manager in the finance department of a large organisation. It has significant national coverage and has recently opened four new outlets in areas of the country that were not previously supported.
Following this recent expansion, the organization's Board is concerned about the organisation's auditing function and the ability to monitor financial activity. The Board has asked you to prepare a short report about various aspect of the auditing function. These are described in your tasks below.
Your work should include a brief introduction to an organisation of your choice that meets the above requirements.
Task 1 The Board are interested in the current audit practice and regulatory environment and how this has evolved.a) Critically compare and contrast historical and current audit practices AND regulatory environmentsb) Critically evaluate the application of the rules for professional conduct for auditors, using examples from your chosen organisation
Task 2
It is important that your report to the Board illustrates the importance of legal and professional requirements.
a) Explain the importance of legal and professional requirements using examples from your chosen organisation
b) Evaluate THREE key requirements for the performance of audit within your chosen organisation
c) Explain the link between preparation of accounts and the audit your chosen organisation will conduct
Assignment 2b
Following your report about the organisation's auditing function and the ability to monitor financial activity, the Board has asked you to deliver a presentation. Your presentation will focus on the following tasks and must include notes to support each slide.
Task 1
Present an analysis of auditing strategy in general
Critically evaluate the effectiveness of the audit monitoring process using suitable examples (these may be from your chosen organisation or from other organisations)
Task 2
Evaluate TWO risks for your chosen organisation involved in the process of auditing
Explain and evaluate appropriate measures that your organisation can take to minimise the risks you have identified
Task 3
Critically assess TWO current developments in auditing SA