Module Name: Auditing (AC 34-3)

Assessment Type: Individual Report - GUIDELINES

Assessment weighting: 50%

Grading Criteria:

The grading of the Written Report will be based on:

The report will be assessed according to the criteria given below:

 Information and Research Completion of Tasks (20 %)

 Understanding of Issues (20 %)

 Application and Analysis (35%)

 Presentation and structure (15%)

 References (10%)

NOTE: FOLLOWING ARE THE MAIN POINTS ON WHICH DETAILED ANSWER IS

EXPECTED.

START WITH A >>>>>>HOOK STATEMENT

Introduction of the report: (DISCUSSION ON IMPORTANCE OF ETHICS AND

CORPORATE GOVERNANCE SUPPORTED BY CURRENT LATEST AND

RELEVANT RESEARCH) (Minimum 1 research in each area)

Task 1 and 2: Analysis of the issues and suggestions to manage the risks
Label the Ethical threat Managing these risks/ SAFE GAURDS

threat

Eg: Close What is the threat? Clearly identify it ? Give multiple safeguards for the threat

personal Which category is it – familiarity, self

relationship interest etc? Why is it a threat? Discuss

between the reason for this action being a threat

finance as well as consequences.

director &

engagement

partner.

3.

4.

3.

4.

5.

6.

7.

8.

9.

10 At least give 8
 Task 3: Other areas that could potentially pose ethical threats which may affect the

auditor’s independence

THESE MUST BE THREATS THAT HAVE NOT BEEN COVERED IN TASK 1

Tasks 4 and 5: Corporate governance weaknesses faced by Mazoon Finance Co and

recommendations

Label the Corporate governance weaknesses Recommendations to mitigate the

weakness weakness

Lack of What is the Corporate governance Suggest such measures that would

relevant weaknesses? Why is a deviation ensure compliance with the Code

experience from the Code? Give reasons for it (Just one)

being a weakness (1 weakness)

3.

4.

7 Fill 7 weakness

Task 6: Areas of corporate governance report that an auditor needs to confirm compliance with.

HERE YOU NEED TO STUDY THE CODE OF CORPORATE GOVENRNANCE ISSUED

BY THE CMA, OMAN. AND DISCUSS IMPLICATIONS / DETAILS OF EACH AND HOW
IT WOULD REFLECT IN THE REPORT ON CORPORATE GOVERNANCE PREPARED

BY THE DIRECTORS.

YOU NEED TO BE CAREFUL AND NOT COPY THE CMA’S CODE FROM THE

WEBSITE /INTERNET AS IT’S FREELY AVAILABLE. THIS WOULD INCREASE THE

SIMILARITY INDEX

Conclusion: A brief conclusion with overall summary of report and recommendations.

(CONCLUSION ON ETHICS AND CORPORATE GOVERNANCE SUPPORTED BY

CURRENT LATEST AND RELEVANT RESEARCH/ REFERNCE TO FRAUDS)

References: Academic references should be given in Harvard style of referencing.

PL CONSULT MODULE HANDBOOK FOR THE CORRECT STYLE