BUACC5935 Auditing and Assurance Services Assessment Answer

The BUACC5935 unit is mainly studied by the students pursuing Graduate Diploma of Professional Accounting course from Federation University, Australia. Completing this task cannot be easy to write. There are several factors and instructions to be followed to prepare an outstanding BUACC5935 Auditing and Assurance Services assessment answer. But no worries because we, at My Essay Mate are available with accounting and auditing assignment help where you get a complete academic assistance by subject matter experts. 

Introduction to Auditing and Assurance Services

The Auditing and Assurance Services course is offered with an aim to enable students in developing better understanding of the underlying contemporary practice and auditing and assurance services. Moreover, it prepares students for professional employment settings which utilises or deliver such services. This course is derived from financial/corporate accounting, law, ethics, statistical methods, and information systems. 

The BUACC5935 course mainly deals with audit function because it is concerned to assurance engagement framework. Moreover, you come to learn the ways in which accounting and legislation and auditing standards offer guidance in auditing process. As per our business accounting assignment help, this course cover wide range of topics such as ethical threats and safeguards; auditor independence; client acceptance; audit risk; management assertions; audit sampling; the internal control environment; the completion of sufficient and appropriate audit evidence; audit reporting; and auditor liability. All these topics are led by integrative and critical review of key theoretical concepts which are applied to practical settings.

Brief Discussion to BUACC5935 Assignment

The BUACC5935 assignment is generally assigned to students to check knowledge of auditing and assurance services.  It is a group assignment where 2-3 members are allowed to work in collaboration to complete the assignment. The assignment comes with two different parts where you must have minimum 4-6 topics, to complete the assignment. The maximum word count for this assignment is 3,500 words. Being a writer, it becomes important for you to look into the sources being used for references. For example- journals, textbooks, internet, newspapers, etc. 

The ideal format to write BUACC5935 Auditing and Assurance Services Assessment Answer is – 

• Title Page - including group number, student names and student IDs
• Part A Answer
• Part B Answer
• References
• Appendix

Assignment Details:

To complete this assignment task, you are required to write a letter to Audit Manager addressing the following things:

• Based on the given link, along with the question, you are required to differentiate between the management responsibility and those who are charged with auditors and governance to the detection and prevention of fraud.
• Explain the misconception which generally takes place in society surrounding the auditor role in the context of the identification and prevention of fraud in financial statement auditing.
• Explain 3 reasons why the auditor believes that the potential fraud risks concerned to revenue recognition in entities. Before submitting, ensure that each reason has been explained clearly.
• Include two case examples of revenue where statements are misplaced which has been reported in the media.

As per the experts providing business accounting assignment help say that the letter should not exceed to 1500 words. The ideal word count may be 1200-1500 words. Therefore, keep the word count in your mind while writing letter to Audit manager. 

PART B:

However, let’s have a look at the requirements of the assignment:

• Determine the four key business risks of Woodside and explain why the identified factors are as a risk to the business. 
• Analytical procedures results. It is suggested that you develop a trend analysis and concoct key ratios. You may need to recognise and discuss the changes that have been taken place in the ratio analysis and trend analysis which would trigger in carrying out further investigation. 
• Determine four major intrinsic risks that you have identified from analytical procedures and business risks in section 1 and 2. You may also keep in mind that business risks are quite different from inherent risks. 
• Find out the key assertion and key account at the risk of material misstatement depending on the innate risks that have been identified above. 
• Compute planning materiality in $ amount. Also, you may take account of a breakdown of calculation and justification. Think of that control risk is high.

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