ALL Questions is on word document
Emelyn
ACCT1059RPLAssignment-31.docx
ACCT1056 AUDITING 1
Individual Assignment
Reliable Printers Ltd (RPL) - CASE ANALYSIS
Aims of this assignment:
This assignment is designed to facilitate your learning of the key skills and knowledge needed when facing a financial report audit of a company, and how to analyse, research and pinpoint facets of the company that require auditing attention.
Case Background
This case analysis relates to the continuous case study, titled Reliable Printers Ltd (RPL), which is featured in the Appendix of the Gay & Simnett (2017) textbook. The details of the case study commences from Chapter 04 onwards, covering key aspects of a financial report audit.
RPL business primarily involves traditional paper-based book printing and e-book production. More specifically, RPL prints magazines, books, and advertising material for publishing, educational, and advertising industries. Their print-on-demand system allows their clients to print the exact amount of stock that is needed.
INSTRUCTIONS:
A. Please read the RPL continuous case study background information in the textbook, and
B. Answer the following FOUR questions – as enumerated below. In doing so, please cite relevant sections of the Auditing standards and/or related regulations where appropriate.
· This individual assignment is worth 30 points and comprises 30% of your overall grade in this course.
· Your answer should be approximately 2,000 words. Submit your answer in TurnItIn by end of Week 8 (Sunday 11.59pm). Submission via email will not be marked.
· Late submission will be deducted 2 marks (10%) per calendar day. Submission is not accepted after being late 10 days.
Important Note: This assignment is RMIT copyright. Please do NOT upload on internet, distribute or share with others this instruction. Academic misconduct hearing and/or heavy penalty of copyright infringement might apply.
Questions:
Please answer ALL Questions after fully reading the RPL case study.
1. RPL is a new client to your firm. As the audit senior for Rogers & Brown, leading the audit team of RPL for the first time, discuss your initial steps that would be required in regards to the following:
· Initial engagements/agreements with the client (3 points)
· Audit Planning (3 points)
· Industry specific strategies (3 points)
· Preliminary materiality assessment (3 points)
(3 + 3 + 3 + 3 = 12 points)
2. Review the initial fundamentals of the business (Appendix pages A1 to A3), analyse the financial information identify FOUR specific types of business risks that are involved in RPL, and how you (as senior auditors of RPL) will response to these identified risks.
(4 points)
3. Internal controls are a vital aspect of any company. Please review the RPL Case Study (Appendix, pages A1 to A13) and discuss the following:
a. Identify THREE control strengths and THREE control weaknesses (3 points)
b. How the identified control strengths and control weaknesses may influence the effectiveness of the control environment (3 points)
c. What control tests would be applicable for each control strength (3 points)
(3 + 3 + 3 = 9 points)
4. Analyse the boards’ year-end reporting discussions (Appendix, page A3) and explain THREE proposed changes and how these proposed changes may affect your audit.
(5 points)
Total – 30 points
ACCT105
6
AUDITING
1
Individual Assignment
Reliable Printers Ltd (RPL)
-
CASE ANALYSIS
Aims of this
assignment
:
This
assignment
is designed
to facilitate
your learning of the
key skills
and knowledge
needed when
facing a financial report audit of a
company, and how to analyse, research and pinpoint facets of the
company that require auditing attention.
Case Background
This case analysis relates to the continuous case study, titled
Reliable Printers Ltd (RPL),
which is
featured
in the
Appendix of t
he Gay & Simnett (2017)
textbook. The details of the case study
commences from Chapter
0
4
onwards
, covering key aspects of a financial report audit.
RPL business
primarily in
volves traditional paper
-
based
book printing and e
-
book
production
.
More
specifi
cally,
RPL print
s
magazines, books, and advertising material for publishing, educational, and
advertising industries. Their print
-
on
-
dema
nd system allows their clients
to print the exact amount of
stock that is needed.
INSTRUCTIONS:
A.
Please
read the RPL continuous case study
background information
i
n the textbook
, and
B.
A
nswer the following FOUR
questions
–
as enumerated below
. In doing so, please cite relevant
sections of the Auditing standards and/or related regulations where appropriate.
·
This
individual assignment is worth 30 points and comprises 3
0% of
your overall grade
in this
course.
·
Your answer should be approximately 2,000 words. Submit your answer in TurnItIn by
end of
Week
8
(Sunday 11.59pm)
.
Submission via email will not be
marked.
·
Late submission will be deducted 2 marks (10%) per calendar day.
Submission is not accepted
after being late 10 days.
Important Note:
This assignment is RMIT copyright.
Please do
NOT
upload on internet, distribute or
share with other
s
this instruction
.
Academic misconduct hearing and/or h
eavy penalty of copyright
infringement
might apply.
ACCT1056 AUDITING 1
Individual Assignment
Reliable Printers Ltd (RPL) - CASE ANALYSIS
Aims of this assignment:
This assignment is designed to facilitate your learning of the key skills and knowledge needed when
facing a financial report audit of a company, and how to analyse, research and pinpoint facets of the
company that require auditing attention.
Case Background
This case analysis relates to the continuous case study, titled Reliable Printers Ltd (RPL), which is
featured in the Appendix of the Gay & Simnett (2017) textbook. The details of the case study
commences from Chapter 04 onwards, covering key aspects of a financial report audit.
RPL business primarily involves traditional paper-based book printing and e-book production. More
specifically, RPL prints magazines, books, and advertising material for publishing, educational, and
advertising industries. Their print-on-demand system allows their clients to print the exact amount of
stock that is needed.
INSTRUCTIONS:
A. Please read the RPL continuous case study background information in the textbook, and
B. Answer the following FOUR questions – as enumerated below. In doing so, please cite relevant
sections of the Auditing standards and/or related regulations where appropriate.
This individual assignment is worth 30 points and comprises 30% of your overall grade in this
course.
Your answer should be approximately 2,000 words. Submit your answer in TurnItIn by end of
Week 8 (Sunday 11.59pm). Submission via email will not be marked.
Late submission will be deducted 2 marks (10%) per calendar day. Submission is not accepted
after being late 10 days.
Important Note: This assignment is RMIT copyright. Please do NOT upload on internet, distribute or
share with others this instruction. Academic misconduct hearing and/or heavy penalty of copyright
infringement might apply.
