Case A – Report Value: 15% Submission method options: Alternative submission method Task Background:

The facts are …

2. Define the ethical issues

3. Identify the major principles, rules and values

4. Specify the alternatives

5. Compare values and alternatives

6. Assess the consequences

7. Make your decision

Question 3 (3%)

Required:

Explain the role that incorporation of auditors and a statutory cap on auditors’ liability have on the limitation of auditors’ liability.

Rationale

This assessment task will work towards assessing the following learning outcome/s:

  • be able to explain and critically evaluate influences on audit and assurance services including: Australian and international professional standards, statutory and common laws, regulatory bodies, and public expectations within a global market.
  • be able to exercise critical and reflective judgement and appreciate the value of ethical practice.

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