PROGRAMME : BACHELOR OF ACCOUNTING

(HONS) / BACHELOR OF ACCOUNTING & FINANCE

(HONS)

Course/ Auditing and Assurance Service 2

Module:
SEGI Course Code: FIN4063/4064 UCLAN Module Code: AC3040
(if applicable)
Lecturer name: Siti Zafirah Haiza Binti Abu Coursework Submission Date:
Bakar Essay: week 9
Case Study: week 10
Presentation: week 11 and week 12
(Subject to change)

ASSESSMENT METHODS

Number of Form of % Size of Category of Learning

Assessments Assessment weighting Assessment/Duration/ assessment Outcomes
Word count being
assessed
1 Final 60% 3,500 words report Coursework 1 to 5
Examination
1 Essay 20% 2,000 words report Coursework 1&2
1 Presentation 5% 10mins presentation Practical 5
1 Case Study 15% 1,500 word report Coursework 3, 4

COURSEWORK
Regulations

Students must submit all materials supporting their coursework listed in the
deliverable section.

 Please make sure that you are aware of the rules concerning plagiarism. If you
are unclear about them, please consult your program coordinator/lecturer.

Plagiarism is presenting somebody else’s work as your own. It includes: copying

information directly from the Web or books without referencing the material;
submitting joint coursework as an individual effort; copying another student’s
coursework; stealing coursework from another student and submitting it as your
own. Suspected plagiarism will be investigated and if found to have occurred will
be dealt with according to the procedures set down by the SEGi university/ UCLAN.

 Students will have 2 Plagiarism policies in place – double award students the
UCLAN Plagiarism policy will override SEGi Plagiarism Policy. The
appended table provides the summary of the 2 policies.
UCLAN Plagiarism Policy SEGi Plagiarism Policy
Single offence – 0 marks – affected Minor Plagiarism: poor in-text referencing
assessment to be re-submitted and student and few paragraphs being copied – stern
can only secure pass mark warning and or counseling
Repeat offended – 0 marks and no Moderate Plagiarism: copying some
opportunity to re-submit – student can retake paragraphs and results without in-text
courses referencing – awarded next lower grade
Major Plagiarism; Most of the work is copied
and cases of repeat minor and major
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 PROGRAMME : BACHELOR OF ACCOUNTING
(HONS) / BACHELOR OF ACCOUNTING & FINANCE
(HONS)

plagiarism – Fail and re-take or suspension or

dismissal

 The coursework should exhibit formal research skills i.e. with a table of
content, proper citations, references, and appendixes.
 The coursework write up must be able to demonstrate critical analysis and
application of both theory and practical issues to the company that you have
selected.
 Student may include additional relevant data/information apart from the
proposed guidelines in conjunction to your research. Additional marks will be
awarded for such attempt.
 All written reports MUST be submitted for similarity checks to Turnitin.
 Extensions
Authorisation of the late submission of work requires written permission.
Your lecturer is authorised to give permission for one extension period of
between 1 and 10 working days where appropriate evidence of good reason
has been accepted and where submission within this timescale would be
reasonable taking into account your circumstances. Requests for extensions
should be made prior to the submission date as extensions cannot be given
retrospectively.

 Late submissions
If you submit work late without authorisation, a universal penalty will be
applied in relation to your work. The appended table summarises the
SEGi/UCLAN penalties.

SEGi/UCLAN Penalties
Submission within 5 working date following published deadline – given a pass
(50 marks for the component of assessment)
Submission later than 5 working days – awarded 0 marks for the component
Unauthorised late submission at supplementary will be automatically be awarded
0marks for the component assessment

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 PROGRAMME : BACHELOR OF ACCOUNTING
(HONS) / BACHELOR OF ACCOUNTING & FINANCE
(HONS)

Learning Outcomes tested Assessment Criteria :

Students must demonstrate the ability to:
 LO1 : Evaluate risk and  Work as an individual to research, write
materiality procedures relating to and structure a report that looks at
auditing and provisions of audit- auditing standards, regulatory and ethics
related and assurance services and analyze the implications.
 LO2 : Critically analyse the  Assess the Internal control system of
current audit environment including any business or public organization.
ethical considerations and auditor  Synthesise theoretical material with
independence practical and actual trends to generate
 LO3 : Critically evaluate the proper discussions and critique.
development of the internal audit  Apply critical thinking, analytic,
process communication and team building skills
 LO4 : Critically interpret the through interview, group presentation,
purpose of internal audit and its role problem solving and discussions.
in risk assessment and management
 LO5 : Critically analyse the code
of professional ethics and and its
impact on the role of the auditor

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 PROGRAMME : BACHELOR OF ACCOUNTING
(HONS) / BACHELOR OF ACCOUNTING & FINANCE
(HONS)

COURSEWORK QUESTION

Essay (20%)

Ravin has been accepted to join the internal audit department of Global Technology
Bhd (GTB), a medium-size IT Technology Company. After working with GTB for a
few months, Ravin has identified the following unresolved issues:

Issue 1

The company is facing financial difficulties due to frequent technological updates on

the products. Dato’ Rozali, the company’s director has force Miss Zainab, his niece to
alter and revise some of the accounting figures in order to show a favorable profit
figures. This is because the director wants to apply a long-term loan from one of the
local bank and makes all the projects become viable. In return, Dato’ Rozali will
promote Miss Zainab a higher position in the company for next management voting.

Issue 2

Several accounting issues encountered by Ravin are:

 Expenses for the Board of Directors’ family such as entertainment, hotel

charges and cleaning services have been charged to the company’s expenses
account.
 It has been the company’s policy that any withdrawals regardless of the
amount, to be signed by finance manager who has been employed since the
first day of the company’s incorporate. Nobody in the company has ever
questioned his integrity as he is seen to be a workaholic and seldom takes
annual leave.
 There are overdue account receivables from few companies but no further
actions have been taken by the management. These companies have been
sponsoring many events organized by the GTB.

Issue 3

There are improper authorization of transactions and activities done by the staff of
GTB. All the documents and records are not properly kept and no independent checks
are done by the designated person. Apart from that, Ravin also found that the absence
of financial controller, Jerry whenever he does the visit. Ravin has been told that Jerry
currently is following the treatment under Rehabilitation Centre due to his gambling
issue.

Task assigned:
You are requiring to work in a group of 3-4 students and critically discuss fraud
indicators of the above issue. Your discussion must relate to fraud triangle. How the
use of fraud triangle or fraud diamond affects external auditors’ fraud risk judgments?
What is the challenge faced by auditors in assessing the audit risk during pandemic?

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 PROGRAMME : BACHELOR OF ACCOUNTING
(HONS) / BACHELOR OF ACCOUNTING & FINANCE
(HONS)

You must support your discussion from case studies and (or) empirical evidence
reported in the journal articles preferably from the publisher of Elsevier1, Emerald2 or
Taylor & Francis3; or professional journals such as articles issued by the CPA4, or the
American Accounting Association5. Supporting your argument with unpublished
journal articles are strictly prohibited.

(Total marks: 100)

Note:
Refer Appendix 1 for the remaining marks allocation.

The total marks for this assignment are 100%, but it carries 20% of overall assessment
for this module.
* The detailed marking criteria’s for the allocation of 100 marks is provided in
Appendix 1

LENGTH REQUIRED
2000 words +/- 10%. Any deviation from this will be penalized.

FORMATTING AND LAYOUT

 A Microsoft Office Word Document or other relevant applications as
permitted by module lecturer/ typed using computer. Usage of typewriter or
hand - written is STRICTLY not allowed.
 12 font size, Time New Roman font and bold title and sub titles
 A4 sized paper
 Fully justified alignment
 1½ line spacing
 Margins of 1” at top and bottom; left and right

1
https://www.elsevier.com/en-xs
2
https://www.emerald.com/insight/
3
https://taylorandfrancis.com/
4
https://www.cpajournal.com/articles/
5
https://aaahq.org/
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 PROGRAMME : BACHELOR OF ACCOUNTING
(HONS) / BACHELOR OF ACCOUNTING & FINANCE
(HONS)

Appendix 1: Marking Criteria for Essay (20%)

No. Assessment Criteria Weightage Marks

Allotted
by
Lecturer
Sections Fraud indicators and fraud triangle 30%

Use of fraud triangle or fraud diamond affects 20%

external auditors’ fraud risk judgments

Challenge faced by auditors in assessing the audit 20%

risk during pandemic

Discussion with appropriate support of case 20%

studies and (or) empirical evidence (variety and
latest empirical evidence)
Others Presentation of the analysis:
 Appropriate citation and references. 2%
 Style and readability including proper 2%
organization of answers.
 Overall presentation. 2%
 This coursework must have a Cover Sheet, 4%
Table of Content and Page Number and
Proper Heading/Title for each part answered,
list of references (Use any referencing system
that is suggested by the faculty)

Total marks 100%

Overall Marks 20%

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 PROGRAMME : BACHELOR OF ACCOUNTING
(HONS) / BACHELOR OF ACCOUNTING & FINANCE
(HONS)

Case Study (15%)

Task assigned:

Zuss Co is a retailer of ladies clothing and accessories. Material are purchased from
200 different suppliers. The company’s year-end was 30 September 2022. Zuss has
103 stores in eight different states in Malaysia. In the past the company has bulk
ordered its clothing and accessories twice a year. However, if their goods failed to
meet the key fashion trends then this resulted in significant inventory write downs. As
a result of this the company has recently introduced a just in time ordering system.
The fashion buyers make an assessment nine months in advance as to what the key
trends are likely to be, these goods are sourced from their suppliers but only limited
numbers are initially ordered.

Zuss Co has an internal audit department which regularly report to audit committee.
Internal audit department consists of 1 chief internal auditor with 4 staff. Internal
audit team need to do regular stores visit to check on the inventory. The job scope of
the internal auditor usually will be deciding by the company CEO. The directors feel
that the team needs to increase in size and specialist skills. However, they are unsure
whether to recruit more internal auditor or to outsource the whole function to their
external auditors, Kieko TF& Co (Kieko). Zuss Co is required to comply with
corporate governance principles in order to maintain its listed status, hence the
finance director has undertaken a review of whether or not the company Complies.

Required task:

Based on the case above, you are requiring to work in a group of 3-4 students and
critically evaluate the need of Zuss Co whether to outsource their internal audit
function. If Zuss continue their internal audit department, thus do you agree Kieko
can rely on the works by Zuss especially related to inventory count? You also
required to discuss role of Zuss Co in corporate governance. Support your argument
and justification with empirical evidence and (or) appropriate case studies.

(Total: 100 marks)

The total marks for this assignment is 100% but it carries 15% of overall assessment
for this module.

* The detailed marking criteria’s for the allocation of 100 marks is provided in
Appendix 2

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 PROGRAMME : BACHELOR OF ACCOUNTING
(HONS) / BACHELOR OF ACCOUNTING & FINANCE
(HONS)

Appendix 2 (15%)

No. Assessment Criteria Weightage Marks

Allotted
by
Lecturer
Sections Critical argument and discussion on outsource the
internal audit function 30%

Relying on the works by internal auditors

20%

Role of internal auditing in corporate governance.

20%

Justification with empirical evidence and (or)

appropriate case studies (variety of empirical
20%
evidence)

Others Presentation of the analysis:

 Appropriate citation and references. 2%
 Style and readability including proper 2%
organization of answers.
 Overall presentation. 2%
 This coursework must have a Cover Sheet, 4%
Table of Content and Page Number and
Proper Heading/Title for each part answered,
list of references (Use any referencing system
that is suggested by the faculty)

Total marks 100%

Overall Marks 20%

LENGTH REQUIRED
1500 words +/- 10%. Any deviation from this will be penalized.

FORMATTING AND LAYOUT

 A Microsoft Office Word Document or other relevant applications as
permitted by module lecturer/ typed using computer. Usage of typewriter or
hand - written is STRICTLY not allowed.
 12 font size, Times New Roman font and bold title and sub titles
 A4 sized paper
 Fully justified alignment
 1½ line spacing
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 PROGRAMME : BACHELOR OF ACCOUNTING
(HONS) / BACHELOR OF ACCOUNTING & FINANCE
(HONS)

 Margins of 1” at top and bottom; left and right

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 PROGRAMME : BACHELOR OF ACCOUNTING
(HONS) / BACHELOR OF ACCOUNTING & FINANCE
(HONS)

Presentation (5%)

Brent Dorsey is a relatively new staff auditor, working on the audit of Northwest Steel
Producers. His senior, John Peters, is under consideration for promotion to manager,
and feels a great deal of pressure to finish the Northwest Steel audit within budget. He
is pressuring his staff auditors, Brent, Han, and Megan, to work over the weekend and
to meet some impossible time budgets.
Brent has been assigned to work on payables with Han. He receives advice from Han
and Megan to skip the audit step are viable ways to deal with budget pressure. Brent
has been married for almost a year. His wife, Kathleen, also has a career and is
expecting a child. Kathleen is not happy that Brent will be coming home late again,
and that he will have to work Saturday. The two are experiencing some of the stresses
and difficulties associated with balancing professional and personal lives.

Required Task:
You are requiring to work in a group of 3-4 students and presenting on the ethical
issues involves in the scenario given above. You can use any other theory such as
utilitarian theory or Kantian theory to support your discussion. What is the impact of
the above dilemma and ethical issues to the audit quality? Your discussion can be
based on case studies or past studies.

The duration for presentation will be 15-20 minutes.

Prepare a Power Point presentation with other relevant visual aids. Submit a copy of
the Power Point slides before the presentation date. The scheduled of the presentation
will be discussed and informed accordingly during the class.

(Total marks: 100)

The total marks for this assignment is 100% but it carries 5% of overall assessment
for this module.

Note:
 Marks allotted for all the criteria’s will be assessed separately according to
individual presentation.

* The detailed marking criteria’s for the allocation of 100 marks is provided in
Appendix 3

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 PROGRAMME : BACHELOR OF ACCOUNTING
(HONS) / BACHELOR OF ACCOUNTING & FINANCE
(HONS)

Appendix 3: Marking Criteria for Group Presentation (5%)

Category Scoring Criteria Total Points Score

Organization Information is presented orderly and clearly. 10  
(20 points)
Creativity and attractiveness of slides. 10  
Content Evidence of critical evaluation 10  
(40 points)
Technical terms are well-defined in language 10  
appropriate for the target audience.
Material included is relevant to the overall 10  
message/purpose and contain accurate
information
Appropriate amount of material is prepared, 10  
and points made reflect well their relative
importance.
Presentation Speaker maintains good eye contact with the 10  
(40 points) audience and is appropriately animated (e.g.,
gestures, moving around, etc.).
Speaker uses a clear, audible voice. Delivery 10  
is poised, controlled, and smooth.
Information was well communicated. 10  
Smart and appropriate dressing 10  
Total marks 100  
  Overall marks 5%  

Comments:

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