Research Project – Part 2
CriteriaRatingsPts
This criterion is linked to a Learn
Research Project – Part 2
CriteriaRatingsPts
This criterion is linked to a Learning OutcomeOverall Memo Assessment
6 to >4.0 ptsBEST
Memo format is clear and concise, and accurately describes and supports conclusions related to the accounting issue, the relevant auditing standards guidance, and the auditor’s plan for auditing leases.
4 to >2.0 ptsBETTER
Memo format is clear and concise, but the assessment lacks specific references and does not properly support conclusions with auditing standards references and course material
2 to >0 ptsBAD
Memo assessment was not completed
6pts
This criterion is linked to a Learning OutcomePlanning the Audit – Chapters 3 and 4
9 to >6.0 ptsBEST
Relevant auditing standard references and ACG 4651 course material are included, and the memo contains specific details that accurately describe and support the conclusions pertaining to the accounting issue, relevant assumptions made (including that the lease account is considered high-risk and contains significant judgments), auditing standards guidance applicable to Planning the Audit, and the leases audit plan.
6 to >3.0 ptsBETTER
Auditing standard references and ACG 4651 course material are included, but they lack specific details, include incorrect information, and/or do not support the conclusions pertaining to the audit plan for leases (specifically Planning the Audit)
3 to >0 ptsBAD
Topic not addressed or is severely lacking references to auditing standards and course material, includes incorrect information, and/or does not support your audit plan for leases (specifically Planning the Audit)
9pts
This criterion is linked to a Learning OutcomeMateriality – Chapter 3
9 to >6.0 ptsBEST
Relevant auditing standard references and ACG 4651 course material are included, and the memo contains specific details that accurately describe and support the conclusions pertaining to the accounting issue, relevant assumptions made, auditing standards guidance applicable to materiality (including discussion of performance materiality and how the risk level of the account would impact the materiality calculations), and the leases audit plan.
6 to >3.0 ptsBETTER
Auditing standard references and ACG 4651 course material are included, but they lack specific details, include incorrect information, and/or do not support the conclusions pertaining to the audit plan for leases (specifically how materiality impacts the audit plan)
3 to >0 ptsBAD
Topic not addressed or is severely lacking references to auditing standards and course material, includes incorrect information, and/or does not support your audit plan for leases (specifically how materiality impacts the audit plan)
9pts
This criterion is linked to a Learning OutcomeAudit Risk – Chapters 3, 6, 7, and 9
9 to >6.0 ptsBETTER
Relevant auditing standard references and ACG 4651 course material are included, and the memo contains specific details that accurately describe and support the conclusions pertaining to the accounting issue, relevant assumptions made, auditing standards guidance applicable to audit risk (including discussion of significant risk, inherent risk, control risk, acceptable audit risk and detection risk), and the leases audit plan.
6 to >3.0 ptsBETTER
Auditing standard references and ACG 4651 course material are included, but they lack specific details, include incorrect information, and/or do not support the conclusions pertaining to how audit risk would impact the audit plan for leases. Audit plan discusses some relevant elements of audit risk, but not sufficiently.
3 to >0 ptsBAD
Topic not addressed or is severely lacking references to auditing standards and course material, includes incorrect information, and/or does not support your audit plan for leases (specifically how audit risk would impact the audit plan)
9pts
This criterion is linked to a Learning OutcomeAudit Evidence – Chapter 5
9 to >6.0 ptsBEST
Relevant auditing standard references and ACG 4651 course material are included, and the memo contains specific details that accurately describe and support the conclusions pertaining to the accounting issue, relevant assumptions made, auditing standards guidance applicable to audit evidence (including discussion of a minimum of three types of audit evidence) and the leases audit plan.
6 to >3.0 ptsBETTER
Auditing standard references and ACG 4651 course material are included, but they lack specific details, include incorrect information, and/or do not support the conclusions pertaining to the audit plan for leases (specifically the types of audit evidence to be used). The audit plan discusses two types of audit evidence (the minimum expectation is three).
3 to >0 ptsBAD
Topic not addressed or is severely lacking references to auditing standards and course material, includes incorrect information, and/or does not support your audit plan for leases (specifically the types of audit evidence to be used in the audit plan)
9pts
This criterion is linked to a Learning OutcomeAudit Assertions – Chapter 5
9 to >6.0 ptsBEST
Relevant auditing standard references and ACG 4651 course material are included, and the memo contains specific details that accurately describe and support the conclusions pertaining to the accounting issue, relevant assumptions made, auditing standards guidance applicable to audit assertions (including discussion of a minimum of two audit assertions) and the leases audit plan.
6 to >3.0 ptsBETTER
Auditing standard references and ACG 4651 course material are included, but they lack specific details, include incorrect information, and/or do not support the conclusions pertaining to the audit plan for leases (specifically the relevant audit assertions to be used). The audit plan discusses one audit assertion (the minimum expectation is two)
3 to >0 ptsBAD
Topic not addressed or is severely lacking references to auditing standards and course material, includes incorrect information, and/or does not support your audit plan for leases (specifically the relevant audit assertions to be used in the audit plan)
9pts
This criterion is linked to a Learning OutcomeTypes of Audit Tests – Chapters 7 and 9
9 to >6.0 ptsBEST
Relevant auditing standard references and ACG 4651 course material are included, and the memo contains specific details that accurately describe and support the conclusions pertaining to the accounting issue, relevant assumptions made, auditing standards guidance applicable to the types of audit tests (including discussion over both tests of controls and substantive testing) and the leases audit plan. The audit plan should discuss the difference between the types of tests (TOC vs. Substantive), their testing purpose and how the results of TOC would impact the substantive testing for leases.
6 to >3.0 ptsBETTER
Auditing standard references and ACG 4651 course material are included, but they lack specific details, include incorrect information, and/or do not support the conclusions pertaining to the audit plan for leases (specifically the relevant testing strategy to be used). The audit plan discusses one strategy, but not both Tests of Controls and Substantive Testing
3 to >0 ptsBAD
Topic not addressed or is severely lacking references to auditing standards and course material, includes incorrect information, and/or does not support your audit plan for leases (specifically the relevant testing strategy to be used in the audit)
9pts
Total Points: 60