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Question: combine-and-discuss-the-following-issues-into-a-single-coherent-memo

Combine
and discuss the following issues into a single coherent memo:

1) Audit risk is a key
consideration and guide to planning an audit – explain why?

2) List the key components of the
Audit Risk Model (ARM) and discuss how they interact?

3) How can well-structured or
judicious statistical sampling assist with estimating the components of the Audit Risk Model and/or resolve an
unsatisfactory outcome of that model? and

4) Discuss the differences
between random sampling, haphazard sampling, and judgement sampling and how
those differences might affect the discussion in part 3 (above).

Task Ranking

Task
Description

Very poor under- standing of task.
Little or no value generated.

(0-20
%)

Poorunderstanding of task. Some value
generated.

(20-40
%)

Acceptableunder-standing of task.
Acceptable value

(40-60
%)

Good understanding of task. Good value
given.

(60-80
%)

Excellent understanding of task.
Excellent value given.

(80-100
%)

1)

Headings

(5.0)

Missing
a lot or all headings

0.0-1.0

Missing
one or more essential features and/ /or poorly organised

1.0-2.0

All
headings but poorly organised and/or difficult to read

2.0-3.0

All
headings, well organised but some difficulty reading it.

3.0-4.0

All headings
are clean & easy to read. e.g.

To:
XXXXXX

From:
YYYYYYYYY

Date:
27/04/2014

Re:
Ideally 6 to 12 words

4.0-5.0

2)

Context
Line

(15.0)

Little
or no insight on the issue with many irrelevancies.

0.0-3.0

A
confused statement of the issue with some irrelevancies

3.0-6.0

A
clear statement of the issue

6.0-9.0

A
clear and concise statement of the issues

9.0-12.0

A
clear and concise statement of the issues & consequences

12.0-15.0

2)

Action
Line

(25.0)

Generally
confused with no request or conclusion.

0.0-5.0

A
confused request or conclusion—may be poorly placed (e.g. at the end or
blended with other parts).

5.0-10.0

An
acceptable request or conclusion, given near the start.

10.0-15.0

A
good clear concise request or conclusion, given near the start.

15.0-20.0

An
excellent clear concise statement of how to resolve the issues.

15.0-25.0

4)

Rest
of the Memo

(25.0)

Generally
confused discussion with little or no linkage to the issues and/or action
line.

0.0-5.0

Confused
and poorly linked to the issues and/or action line.

5.0-10.0

Acceptable
insight plus clear support for the action line.

10.0-15.0

Good
insight plus strong, clear, and concise support for the action line.

15.0-20.0

Excellent
insight plus strong, clear, and concise support for the action line that is
clearly tied to it.

15.0-25.0

Total Mark

/70

Adj. to 7.0

/7.0

Student
Numbers:

General Comments:

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