Reference no: EM133048245

Fraud Risk Assessment

Provide a Fraud Risk Assessment analysis for your Selected Company. How you display and write up your analysis is up to your group BUT as a minimum you must include the below elements within your analysis:

- Clear identification of at least one (1) potential inherent fraud risk including key account(s) and assertion(s) - and apply the fraud risk triangle factors with explanations of the potential incentives, pressures, and opportunities to commit fraud specific to the organisation.
- Assessment of the likelihood and significance of inherent fraud risk (e.g. remote, probable, reasonably possible) -with narrative and analysis to support your assessment which may include but not limited to: fraud risks based on historical information, known fraud schemes, and suggested interviews and questions that could potentially be used with staff.
- Outline at least one (1) proposed response to address the identified fraud risk (internal control and/or specific fraud detection procedures that could be implemented).

You are required to write a Critical Report on one (1) selected academic journal article related to emerging audit technologies such as Data Analytics, Big Data, Blockchain, Artificial Intelligence.

Your selected academic article must meet the following criteria for selection:

- Article selected must be published between the years 2015¬2021/forthcoming
- Article selected must be from a highly ranked journal - A*, A or B ranked only from the ABDC List.

Your Critical Report must address the following criteria:

1. Evaluation of the journal article's main contributions, including its strengths, weaknesses and recommendation/s for improvement.

2. Outline how the emerging technology in your selected journal article (e.g. Data Analytics, Artificial Intelligence etc.) can be used in the Financial Report Audit. Your answer here should discuss two specific areas (within your Company context from Part 1) of the audit engagement that can be improved (for the auditor and audit client).

3. What challenges do auditors face in adopting emerging technology on audit engagements? What opportunities are there for the audit profession and audit education to enhance the use and success of the emerging technology in auditing? [6 marks]

4. Critical writing style, and convincing evaluation

REPORT STYLE - Part 2

Students have some freedom here in terms of structure - it can be in essay form or in a report style with headings that guide the reader into the critical review of the academic article. Some suggestions are as follows:

Introduction
The length of an introduction is usually one paragraph for a journal article review and two or three paragraphs for a longer book review. Include a few opening sentences that outline the author(s) and the title, and briefly explain the topic of the text. Present the aim of the text and summarise the main finding or key argument. Conclude the introduction with a brief statement of your evaluation of the text. This can be a positive or negative evaluation or, as is usually the case, a mixed response.

Summary
Present a summary of the key points along with a limited number of examples. You can also briefly explain the author's purpose/intentions throughout their study and perhaps even your own judgment of the authors' intentions.

Critique
The critique should be a balanced discussion and evaluation of the strengths, weakness, and notable features of the journal article, and often needs an overall judgment about what you think? You may even have ideas on how the article and research can be improved?

Conclusion
This is usually a very short paragraph where you can restate your overall opinion of the journal article, briefly present recommendations and if necessary, some further explanation of your judgement can be included. This can help your critique sound fair and reasonable.

References
If you have used other sources in your review you should also include a list of references at the end of the review.
Summarising and paraphrasing are essential skills for academic writing and in particular, the critical review. Remember that "paraphrasing" means putting it into your own words, so it is essential that you summarise when reading the journal article.

Your Selected Journal Article must be referenced; please do not waste huge amounts of your 3 page maximum limit of too many quotes, journal extracts as the objective of the critical report is to use your skills in critiquing and writing in your own words.

If your article focusing on several emerging technologies, when addressing the required questions-perhaps focus on one technology for depth of answer. Your summary of the journal article may however still make reference to all the technologies if applicable.