Criteria
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High Distinction
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Distinction
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Credit
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Pass
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Explanation and critical evaluation of the influence of Australian and international professional standards, public expectations and regulatory bodies on audit and assurance services. (7 marks)
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Provides a comprehensive synthesis and critical evaluation of the APRA findings and their impact on audit risk.
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Provides an advanced synthesis and critical evaluation of the APRA findings and their impact on audit risk.
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Provides a competent synthesis and critical evaluation of the APRA findings and their impact on audit risk.
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Provides a simple listing of the APRA recommendations with some recognition of the impact on audit risk.
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Use of critical and reflective judgment in ethical practice in the application of the ethical decisionguide (3 marks).
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Complex and detailed application of the ethical decision guide demonstrating strong critical and reflective thinking the use of the guide.
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Logical application of the ethical decision guide demonstrating coherent critical and reflective thinking in the use of the guide.
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Substantial application of the ethical decision guide demonstrating criticalor reflective thinking in the useof the guide. .
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Ethical decision guide applied demonstratingbasic thinking inthe use of the guide.
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Critical explanation of the influence of public expectations and regulatory bodies on audit and assurance services (3 marks)
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Provides a comprehensive synthesis and critical evaluation of the role that incorporation and statutory cap on auditors' liability have on the limitation of auditors' liability.
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Provides an advanced synthesis and critical evaluation of the role that incorporation and statutory cap on auditors' liability have on the limitation of auditors' liability.
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Provides a competent synthesis and critical evaluation of the role that incorporation and statutory cap on auditors' liability have on the limitation of auditors' liability.
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Provides a basic critical evaluation of the role that incorporation and statutory cap on auditors' liability have on the limitation of auditors' liability.
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These last two criteria relate to the whole of the case study.
Professional communication including the use of a report structure for Question 1. (Note: you are required to space between paragraphs; use Arial 10pt or TNR 12 pt; use 1.5 or double line spacing)
(1 mark).
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Question 1 is in a report format and contains distinct understandable statements with no errors. There is a sophisticated use of language. Extremely well organised. Content is structured in a manner that facilitates the reader’s understanding.
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Question 1 is in a report format and contains distinct understandable statements with minimal errors.
Answer is well organised. Content is structured in a manner that facilitates the reader’s understanding.
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Question 1 is in a report format. There are minor spelling, grammar and punctuation errors. Work shows evidence of proofreading. Well-structured with one main idea or argument provided per paragraph.
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Some spelling, grammar and punctuation errors found but the work is readable and structured. Some attempt at a business report format. Work may include too many ideas in one paragraph.
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Appropriate resources and correct referencing.
(1 mark)
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Usedthree or more sources. All work has been referenced correctly as per APA (6th edn) requirements.
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Used two or more sources. All work has been referenced correctly as per APA (6th edn) requirements.
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Used one or more sources. All work has been referenced within the body of the answer and in the reference list, with some omissions or errors in terms.
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No additional sources other than the text used. Others’ work is not always acknowledged and there are several errors or items of non-compliance with the APA (6th edn).
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