ACC260 Research Project
This project will take the place of your final exam for this course.
There will be three different parts to this project that students will be required to submit.
Part 1. The written case review and audit firm recommendation.
Part 2. A presentation of the case review and your recommendation to the audit firm partners.
Part 3. A peer review of your classmates’ presentation from an audit firm partner point of view.
You are an audit manager for an audit firm. One of your duties is to conduct a review of perspective audit clients and report your findings to the firm’s partners. For this assignment you will select a company and assume the company has just asked your audit firm to conduct the next fiscal year audit of their Financial Statements and their Internal Control over Financial Reporting.
To select a company, (this must be a company, not an individual or an audit firm) find a public corporation that has been involved with an SEC Litigation, or an SEC Auditing & Accounting Enforcement Action within the past three years, or a private company that has received a Qualified Audit Opinion within the Past 3 Years. Some helpful websites to conduct your search include the following;
SEC Litigation ReleasesHYPERLINK "http://www.sec.gov/litigation/litreleases.shtml"http://www.sec.gov/litigation/litreleases.shtml
Auditing & Acctg Enforcement releases.HYPERLINK "http://www.sec.gov/divisions/enforce/friactions.shtml"http://www.sec.gov/divisions/enforce/friactions.shtml
Company SearchesHYPERLINK "http://www.sec.gov/edgar/searchedgar/companysearch.html"http://www.sec.gov/edgar/searchedgar/companysearch.html
Part 1. Prepare a written report to the audit partners. To be a minimum of 3 and a maximum of 5 pages. Not including the title page and reference page. Use proper MLA writing, and remember that this is a report to the auditors so you have a knowledgeable recipient of this report.
This report is to include the following sections.
Introduce the company and give their background information.
Provide a detailed explanation of the incident described in the Litigation.
Describe an internal control system the company could have had in place to avoid being involved with this type of situation.
Provide a detailed plan an auditor may use to discover such an incident.
Provide a brief summary and make a recommendation on how the firm should move forward with the engagement letter.
Part 2. Prepare a three to five minute presentation on your research and recommendations. Face 2 Face classes will present their presentation in the classroom. Online students will be submitting their presentation videos to a site designated by the instructor. The presentation must include all five parts that are required and explained in the written report.
Part 3. You will be required to turn in a Partner Review of at least three presentations given by your classmates. You will critique your classmates for professional presentation, understandability, ensuring all five parts of the assignment are included, and effectiveness of their recommendation.
Students will be required to submit the company name they intend to use in a Discussion on a first submitted gets the company basis. Students will not be allowed to submit a report on the same company another student has selected for that class session, nor will you be allowed to use the company from the chapter 5 SEC enforcement assignment.
|Due By (Pacific Time)
||11/30/2014 12:00 am