HI6026 - Audit, Assurance, & Compliance, Auditor's Professional, Legal And Ethical Responsibilities - Auditing Assignment Help
- Subject Code :
HI6026
- University :
Macquarie University Exam Question Bank is not sponsored or endorsed by this college or university.
- Country :
Australia
Assignment Task -
Learning Outcomes:
Demonstrate an understanding of the reporting requirements of auditing standards
Demonstrate an understanding of the auditor's professional, legal and ethical responsibilities to their clients and third parties.
Part 1: Demand for adequate Assurance:
In 2002, the audit firm Arthur Andersen collapsed following charges brought against it in the United States relating to the failure of its client, Enron. Some other clients announced that they would be dismissing Arthur Andersen as their auditor even before it was clear that Arthur Andersen would not survive.
Required:
a. Explain demand from audit and assurance services under Sarbanes- Oxley Act (2002)? (5 marks) b. Explain auditors understanding of corporate governance revision, update, and arguments after SOX Act (2002) (10
Part 2: Audit Fees Determination and ASX CGC Principles
All companies are required to disclose in their annual reports the amounts paid to their auditors for both the financial report audit and any other services performed for the company.
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