This is the first task in an overall integrated research project completed by students over the term. This is an individual assessment. The task is based on an allocated ASX-listed company and each student will be assigned a listed company for the assessment task.

In this assessment, students will need to prepare an audit engagement letter to commence his/her audit job in the allocated company. The engagement letter needs to follow appropriate template and structure with relevant information to be legally acceptable.

Students are assessed based on their capacity to:

1. Integrate theoretical and technical audit and accounting knowledge in an audit context by demonstrating an understanding of formal process to commence the audit work

2. Justify and communicate audit and accounting advice and ideas in straightforward contexts to assist with the decisions of users of financial reports by being able to choose a relevant approach to communicate with clients in auditing job.

This is the continuation of assessment task 1, referring to the same context as in assessment task 1 (same allocated ASX-listed company). This is also an individual assessment task.

After completing the engagement letter, students will write an executive report to:

(1) review the client's business using public available data and

(2) perform audit risk analysis.

These are two steps in the initial planning (Refer to table 9.2 in the textbook for more information). The objective of the assessment is to let students be familiar with the process to obtain an initial understanding of their client before conducting further audit tasks.

***"This assessment requires students to adhere to the guidelines on the use of artificial intelligence tools as specified in the Artificial Intelligence Assessment Scale (AIAS). Any misuse or lack of disclosure regarding the use of AI tools will be considered a breach of academic integrity."

This assessment must be prepared following AI scale level. You should add the following statement at the first page of your assessment report. 

Students are assessed based on their capacity to:

1. Exercise judgement under supervision to provide possible solutions to routine audit and accounting problems in straightforward concepts using appropriate regulatory, ethical, economic and governance perspectives

2. Integrate theoretical and technical audit and accounting knowledge in an audit context

3. Critically apply theoretical and technical audit and accounting knowledge and skills to provide possible solutions to routine audit related issues

4. Justify and communicate (in writing) audit and accounting advice and ideas in straightforward contexts to assist with the decisions of users of financial reports

5. Reflect on performance to identify and action learning opportunities and self-improvements.

Assessment task 3 is the final task in the integrated research project in this unit. It continues AT1&AT2, but this is a group assessment. TWO to THREE students will form a group and group members will decide which listed company they are going to choose to complete the task (Assuming that all members are working on different companies in AT1&2. If all members are working on the same company in AT1&AT2, then that company will be used for AT3). Group registration will be done via Moodle, and further instructions will be provided closer to the date.

There are two parts in this assessment:

Part 3A: Prepare the second part of the practical report in assessment task 2 and,

Part 3B: Oral presentation about the practical report submitted in AT2 and AT3A.

In Part 3A, students will conduct some specific audit tasks in the audit process and complete the report. Further details about the task will be provided on Moodle.

After submitting all written reports in AT2 and AT3A, students will need to prepare an oral presentation to communicate with clients about the audit process and the final audit outcome.

Timeline of the assessment task 3 as below:

* Week 12 - Submission of the written report in AT3A (as outlined in the due date information in this eProfile)

* Week 13/14 - Oral presentation of the final report (AT2 and AT3A) via Zoom in AT3B - Students will be informed about the time allocation by week 11.

*** "This assessment requires students to adhere to the guidelines on the use of artificial intelligence tools as specified in the Artificial Intelligence Assessment Scale (AIAS). Any misuse or lack of disclosure regarding the use of AI tools will be considered a breach of academic integrity."

In preparing this assessment you are required to follow the following AI scale level and add the following information at the first page of your report. 

Students are assessed based on their capacity to:

1. Exercise judgement under supervision to provide possible solutions to routine audit and accounting problems in straightforward concepts using appropriate regulatory, ethical, economic and governance perspectives

2. Integrate theoretical and technical audit and accounting knowledge in an audit context

3. Critically apply theoretical and technical audit and accounting knowledge and skills to provide possible solutions to routine audit related issues

4. Justify and communicate (both in verbal and writing) audit and accounting advice and ideas in straightforward contexts to assist with the decisions of users of financial reports

5. Reflect on performance to identify and action learning opportunities and self-improvements.