Audit and Assurance Coursework – Main 2024/25 Semester 2 | LBU

COURSEWORK BRIEF

This assessment is worth 25% of the marks for the module. This is made up of Part A worth 45 marks and Part B worth 30 marks.

IMPORTANT: To pass any module of study, students must submit in all components of assessment. Failure to submit this assignment will result in an automatic failure of this module, irrespective of your final examination performance.

DEADLINE DATE FOR SUBMISSION BY STUDENTS:

PART A: Tuesday 8 April 2025 by 11 am
PART B: Each week during your seminar class during Weeks 3 to 11 (weeks commencing 10 February to 11 April 2025)

The deadline for submission of Part A is Tuesday 8 April 2025 by 11 am. Please note that you can submit this assessment before the deadline.

The Business School operate a flexible assessment submission policy on coursework assessment. This means that if you require additional time, you are permitted to submit up to 5 working days after the deadline, without late submission penalties being applied and without applying for an extension. Full details of this policy can be found here. This means the final date and time for submission without late penalty is Tuesday 15 April 2025 by 11 am.

Note that any submission which is late (submitted after 11 am on Tuesday 15 April) will have the mark capped at 40%.

If you require more time beyond the additional 5 working days flexible submission period, you can apply here for an additional 5 working days (making 10 working days from the original deadline) or apply for Mitigation to request to defer your assessment to the next module assessment period. Please note that both a 10-day extension or mitigation request must be accompanied by appropriate documentary evidence, for example a doctor’s letter and will be reviewed. Further information on the flexible assessment submission policy and mitigation in general can be found here.

There are two parts to your submission for this coursework.

PART A COURSEWORK REPORT

• You must submit your assessment electronically on My Beckett using the Turnitin icon.
• The word count for Part A is 750 words +/- 10%. This word limit excludes references, bibliography, appendices, ratios and trend calculations. You should include a note of the word count on the cover of your assignment.
• Please note carefully that this is an individually prepared assignment and evidence of collusion with another student will be dealt with in accordance with the University academic integrity policy.
• You should only use Harvard referencing. Any websites referred to must be properly referenced.

PART A COURSEWORK REPORT

• You must submit your assessment electronically on My Beckett using the Turnitin icon.
• The word count for Part A is 750 words +/- 10%. This word limit excludes references, bibliography, appendices, ratios and trend calculations. You should include a note of the word count on the cover of your assignment.
• Please note carefully that this is an individually prepared assignment and evidence of collusion with another student will be dealt with in accordance with the University academic integrity policy.
• You should only use Harvard referencing. Any websites referred to must be properly referenced.

PART A

Sheridan Audio Visual – Year ended 31 March 2027 - Planning Exercise

You are the auditor manager of Sheridan Audio Visual and are currently planning the audit for the year ended 31 March 2027. You are preparing extracts to include in the Audit Planning Memorandum.
Base your answer on the information you have obtained about Sheridan Audio Visual whilst working through the materials on MyBeckett which include;

• Interviews and conversations with Sheridan AV staff
• Minutes of directors’ meetings
• Internal memo to Graeme Moore
• Draft accounts for the 9 month period to 31 December 2026

REQUIRED:

a) Compare the draft accounts for the 9-month period to 31 December 2026 with the figures for the year ended 31 March 2026 showing percentage movements and ratio calculations for the two periods where appropriate.
Identify the key movements and discuss how this will impact upon your audit testing.

Present the analytical review and your comments on an excel spreadsheet – this should be Appendix A. (15 marks)

b) From the list of 8 interviews below, identify 1 key audit risk from 6 of them, so in total you have identified 6 key audit risks.
Interviews: 

• Auditors’ Pre Meeting
• Initial Meeting – Sheridan AV Staff & Auditors
•  Directors’ meeting at Sheridan AV Headquarters
•  David Sheridan
• Rosie Hendricks
•  James Clark Leanne Sheridan
• Margaret Blake

For those 6 key audit risks you have identified:

•  Describe the audit risk.
• Explain how this risk will impact your audit testing and where specific account balance(s) are affected identify the account balance(s).
•  Draft 1 audit test (this should be a detailed instruction) to obtain assurance stating which assertion(s) will be satisfied.

Structure your answer in a table as follows:

Provide detailed notes of all your research from your review of the case study and interviews. Attach these detailed notes to the assignment as Appendix B. WARNING: Your assignment will not be eligible for submission and will not be marked if these notes are not provided.

PART B; ENGAGEMENT PORTFOLIO – 30 Marks

- To be evidenced separately to your response to Part A (Covers Teaching Week 3 – Week 11):

Successful completion of designated seminar activities which can only be completed during the seminar class. This must be evidenced through seminar engagement and completion of the designated seminar activities which must cover at least 5 out of 9 weeks, from week 3 (W/C 10 February 2025) to week 11 (W/C 11 April 2025) of the module.
In order to obtain the 30 marks you must engage in at least 5 out of the 9 seminars from Week 3 to Week 11. If you engage with less than 5 seminars you will score zero for Part B. Therefore, for Part B – it is 30 marks or zero.

This will be evidenced as completed by;

• (recorded) seminar attendance and engagement, with completion of a seminar activity during the seminar class. AND
• Where engagement requires completion of a seminar quiz you must obtain a minimum of 40