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 environments b) Critically evaluate the application of the rules for professional conduct for auditors, using examples from your chosen organisation SA – LO 1 (pcs 1.1, 1.2) LO 2 (pcs 2.1, 2.2)
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 SA – LO 3 (pcs 3.1, 3.2) LO6 (pcs 6.1, 6.2)
Assignment 2a: Criteria and Mark Scheme
1.1: Critically evaluate the history of auditing and regulatory environments.
1.2: Evaluate current audit practice ensure such views. and regulatory environment.
2.1: Identify the rules of professional Rules of professional conduct for auditors, legal and professional sanctions for conduct. breaches.
2.2: Critical evaluation of the Evaluation of cases showing application of application of the rules of professional the rules of professional conduct. conduct for auditors.
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) SA – LO 4 (pcs 4.1, 4.2)
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 SA – LO 5 (pcs 5.1, 5.2) Task 3 Critically assess TWO current developments in auditing SA – LO 6 (pcs 7.1, 7.2)