Reference no: EM132892935 , Length: word count:2800

GAA6003 Audit and Corporate Governance - Gulf College

Aim - This module builds upon the basic foundations developed in accounting and financial reporting. Students should be able to apply advanced auditing techniques as well as dealing with corporate governance in audit and general auditing practice. Students should be able to apply the principles of auditing to situations that they may meet in practice and critically evaluate the role of the auditor.

Learning Outcome 1: Understand the advanced theories and practice of auditing activities and procedures.
Learning Outcome 2: Critically analyse and evaluate issues relating to auditing and the auditor's responsibilities
Learning Outcome 3: Understand and critically analyse the recent developments in corporate governance in Omani Context.
Learning Outcome 4: Understand and critically analyse the theories and practices related to Corporate Governance for the Omani Listed Companies.

Assessment Task

This assessment requires the students to complete two tasks equivalent to 2800 words.

Task 1. Requires 1400 words,

Corporate governance has utmost importance for the corporate sector in achievement of both financial and social objectives. The prime objective of Corporate Governance is to set out processes by which corporates are controlled and directed to create efficient enterprises contributing to building a strong, transparent and competitive national economy.

Discuss the following considerations for good corporate governance:

• Give a brief introduction about corporate governance. 100 words
• Discuss how good corporate governance can be achieved and examine how does it assist with the framework of rules, relationships, systems, and processes within an organization? 600 words
• Critically evaluate the role of the Board of Directors and Executive Management? 600 words
• Conclusion. 100 words

Task 2. Requires 1400 words

The scope of an auditor is to express an opinion based on obtaining evidence and conducting procedures like testing and sampling. The basic objective of the financial audit is intended to provide a 'reasonable' assurance over the accuracy of financial statements.

Your discussion should contain:
• Introduction: Give a brief introduction to the external audit. 150 words
• What the primary responsibilities of an auditor during the conduct
of an audit of the financial statements, evaluate 600 words
• Examine the objectives of external audit 400 words
• Conclusion 250 words
• References for both Tasks
Quality of answers, presentation style and level of communication with Harvard style references

Attachment:- Corporate Governance.rar