About TMA: The TMA covers Principles of Auditing & Other Assurance Services. It is marked out...

    

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About TMA: The TMA covers Principles of Auditing & Other Assurance Services. It is marked out of 100 and is worth 20% of the overall assessment component. It is intended to assess students' understanding of some of the learning points within chapters 1 to 7. This TMA requires you to apply the course concepts. The TMA is intended to: > Increase the students' knowledge about the reality of Auditing as a profession. > Assess students' understanding of key learning points within chapters 1 to 7. - Develop the ability to understand and interact with the nature of the professional standards & internal control in reality. - Develop students' communication skills, such as memo writing, essay writing, analysis and presentation of material. - Develop basic ICT skills such as using the internet & e-library resources.. The TMA: The TMA requires you to: 1- Review various study chapters (from Chapter 1 to 7) of 'Principles of Auditing & Other Assurance Services' Book and apply some of the concepts within it. 2- Conduct a simple information search using the internet. 3. Present your findings in not more than 1,600 words. The word count excludes headings, references, title page, and diagrams. 4- You should use a Microsoft Office Word and Times New Roman Font of 14 points. 5. You should read and follow the instructions below carefully. Each part of the process will carry marks for the assignment. Part B (70 marks) Access the Huawei web page at: Huawei Annual Report - Huawei then download the annual report 2020 in PDF Form. Use the annual report to answer the following questions. Go to "Report of Independent Auditor's Report"& answer the following questions. Read the report carefully. 1. The main responsibility of auditor is to express an opinion on whether management has fairly presented the information in the financial statements. Give some introduction on the functions of external auditor and provide reference from report. Explain the big 4 companies under auditing profession. Also name the external auditor of Huawei. (10 marks) 2- "CPAs provide a wide array of information enhancement services referred to as assurance services. Discuss? Your answer should include the case of Huawei auditor's report. (10 marks) 3- Who is responsible for preparing financial statements of Huawei? What is the external audit report on the presentation of financial statement of Huawei? Name the different financial statements that audited by external auditors. (10 marks) 4- Discuss the difference between the Audit Committee Report and Auditors Report. What is the basic information discussed in these two reports? (10 marks) 5. Are auditors responsible for frauds? Discuss the auditor responsibility for the detection of errors and frauds? Support your answer from the Annual report of Huawei. (10 marks) Reliable accounting and financial reporting aid society in allocating resources in an efficient manner. Explain why audits are demanded by society? Support your answer from the Annual report of 2020 of Huawei? 7- Write a summary on auditor's report and evaluation about Huawei performance, based on your understanding. (10 marks) In your answer, you should explain each point or inquire separately. Use the following headings (below) to make up the different sections of your answer: PT3 form (Cover) Available in LMS. Contents Title and contents page TMA Financial Reporting on the Internet (Huawei) Reference list Recorded according to the Harvard style - Available in LMS. About TMA: The TMA covers Principles of Auditing & Other Assurance Services. It is marked out of 100 and is worth 20% of the overall assessment component. It is intended to assess students' understanding of some of the learning points within chapters 1 to 7. This TMA requires you to apply the course concepts. The TMA is intended to: > Increase the students' knowledge about the reality of Auditing as a profession. > Assess students' understanding of key learning points within chapters 1 to 7. - Develop the ability to understand and interact with the nature of the professional standards & internal control in reality. - Develop students' communication skills, such as memo writing, essay writing, analysis and presentation of material. - Develop basic ICT skills such as using the internet & e-library resources.. The TMA: The TMA requires you to: 1- Review various study chapters (from Chapter 1 to 7) of 'Principles of Auditing & Other Assurance Services' Book and apply some of the concepts within it. 2- Conduct a simple information search using the internet. 3. Present your findings in not more than 1,600 words. The word count excludes headings, references, title page, and diagrams. 4- You should use a Microsoft Office Word and Times New Roman Font of 14 points. 5. You should read and follow the instructions below carefully. Each part of the process will carry marks for the assignment. Part B (70 marks) Access the Huawei web page at: Huawei Annual Report - Huawei then download the annual report 2020 in PDF Form. Use the annual report to answer the following questions. Go to "Report of Independent Auditor's Report"& answer the following questions. Read the report carefully. 1. The main responsibility of auditor is to express an opinion on whether management has fairly presented the information in the financial statements. Give some introduction on the functions of external auditor and provide reference from report. Explain the big 4 companies under auditing profession. Also name the external auditor of Huawei. (10 marks) 2- "CPAs provide a wide array of information enhancement services referred to as assurance services. Discuss? Your answer should include the case of Huawei auditor's report. (10 marks) 3- Who is responsible for preparing financial statements of Huawei? What is the external audit report on the presentation of financial statement of Huawei? Name the different financial statements that audited by external auditors. (10 marks) 4- Discuss the difference between the Audit Committee Report and Auditors Report. What is the basic information discussed in these two reports? (10 marks) 5. Are auditors responsible for frauds? Discuss the auditor responsibility for the detection of errors and frauds? Support your answer from the Annual report of Huawei. (10 marks) Reliable accounting and financial reporting aid society in allocating resources in an efficient manner. Explain why audits are demanded by society? Support your answer from the Annual report of 2020 of Huawei? 7- Write a summary on auditor's report and evaluation about Huawei performance, based on your understanding. (10 marks) In your answer, you should explain each point or inquire separately. Use the following headings (below) to make up the different sections of your answer: PT3 form (Cover) Available in LMS. Contents Title and contents page TMA Financial Reporting on the Internet (Huawei) Reference list Recorded according to the Harvard style - Available in LMS.

Answer rating: 100% (QA)

The crisis of credibility for the most part arose from the quantity of firms that restated their antecedently issued monetary statements as a results ... View the full answer