ACCT5908 Auditing and Assurance Services 代写
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ACCT5908 Auditing and Assurance Services 代写
SCHOOL OF ACCOUNTING
ACCT5908
Auditing and Assurance Services
TEAM ASSIGNMENT DETAILS*
*to be read in conjunction with details provided in the Course Outline
The assignment is to be based on JB Hi-Fi Limited (ASX code JBH).
A hard copy is to be handed in to your lecturer at the commencement of your class in
Seminar 10 (week commencing 15 May 2017).
A soft copy must also be uploaded via Turnitin the same day.
The assignment must be prepared in accordance with the requirements as
specified below and as indicated in the Course Outline.
This assignment is to be completed in teams of five students.
All students in a team must be from the same seminar.
Teams will be assigned in Seminar 2.
Each assignment team must prepare and submit a Team Assignment Contract (refer
Course Outline) at the beginning of their Seminar in week 3. Failure to do so will incur
a five mark penalty.
Students must submit individual Peer Assessment Forms (refer Course Outline) with
their assignments in Seminar 10.
The aim of the group assignment is to test students’ ability to integrate skills learnt in
Auditing and Assurance Services to analyse a real company from the auditor’s
perspective and within the framework of auditing standards. The successful completion
of this assignment requires extensive research on JB Hi-Fi’s internal and external
environments, operations, strategies and an analysis of financial information, including
the annual report.
Students are expected to demonstrate their ability to critically evaluate various pieces of
information and apply analytical skills to critically evaluate potential audit risks.
An important aspect of the assignment will be to demonstrate your ability to present
written reports in a professional manner, addressing key formatting requirements as
specified in Question 5 below.
2
Required:
You are part of the team responsible for planning the JB Hi-Fi Ltd (JBH) audit
engagement for 2017. You have been assigned to gather relevant background
information and prepare a report for a meeting with your audit partner and audit
managers.
Your report must address the following issues.
1. To demonstrate your understanding of JBH, provide a detailed description of
how it conducts its operations. This must include a description of its revenue
streams, products and services, business processes, competitive environment,
strategies, management and governance. The appendix to ASA 315 will help
guide your response. The information presented should be reflective of your
in-depth understanding of how the company operates, not merely a
summary of information from the annual report. [5 marks]
2. A commonly used tool to assist in conducting strategic analysis decomposes
the client’s business environment into the following four spheres of influence -
Strengths
Weaknesses
Opportunities
Threats
Prepare a SWOT analysis detailing the kinds of factors that may have a
material impact on the business of JBH.
Two factors are expected for each of the four areas.
Be sure to identify how each of the factors impacts JBH.
[4 marks]
3. List and explain three key audit risks which would impact on the audit of JBH.
Include the account and assertion most affected by the risks identified.
Be sure to link audit risks to their applicable business risks (from your
research in sections 1 and 2 and/or other applicable research).
Note: Do not include any risks associated with the acquisition of The Good Guys
and the capital raising in this question. [6 marks]
4. On 13th September 2016, JBH announced that it had agreed to buy 100% of
The Good Guys (an electronics and white goods retail chain) for $870m, to be
funded by the issue of $394m of new equity and $500m of debt. How will this
affect your audit plan for JBH? [3 marks]
ACCT5908 Auditing and Assurance Services 代写
5. Your assignment submission should be presented in a format as if it was to be
presented to a meeting of senior auditors at your accounting firm and
should be designed and laid out so as to most effectively impart your key
messages. It should be succinct, and extensive use of diagrams, tables and
graphs is encouraged. The report should also be coherent and so consistency is
expected throughout (e.g., formatting, language style, and linkages between the
questions). Note that groups who split up the questions and work independently
are likely to have more difficulty accomplishing this objective compared to groups
who work on each of the parts collaboratively. Note, merely complying with the
presentation guidelines will receive low marks for presentation. Note: To gain full
marks, student will need to present their assignment in a highly professional
manner. [2 marks]
ACCT5908 Auditing and Assurance Services 代写
