ACC 411 Module Two Short Paper Guidelines and Ru
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ACC 411 Module Two Short Paper Guidelines and Ru
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Overview: The fundamental purpose of the financial audit is to express an independent and expert opinion on the financial statements. This opinion is
expressed in the auditor’s report. The standard audit report states that in the auditor’s opinion, “financial statements refe
ed to above, represent fairly, in all
material respects, the financial position of ABC company as of December xx, xxxx, in accordance with accounting principles generally accepted in the United
States of America” (Whittington & Pany, 2019, p XXXXXXXXXXTo form an accurate opinion of the financial statements, auditors must collect and analyze evidence. Data
analysis plays a key role in every stage of the audit process.
Reference
Whittington, R., & Pany, K XXXXXXXXXXPrinciples of Auditing and Other Assurance Services. New York: McGraw-Hill Education.
Prompt: For this short paper, you will prepare a memo to management that explains how and why data analysis is used in the various stages of the audit
process, including the risk assessment stage, the determination of sampling method and audit universe, the substantive procedures stage, and the end of the
audit. Review Chapter 5 of the textbook to support your work.
Specifically, the following critical elements must be addressed:
Data Analysis: Risk Assessment Stage: Explain how and why data analysis is used at the risk assessment stage of the audit process.
Data Analysis: Determination of Sampling Method and Audit Universe: Explain how data analysis is used in the determination of sampling method and
audit universe.
Data Analysis: Substantive Procedures Stage: Explain how and why data analysis is used at the substantive procedures stage of the audit.
Data Analysis: End of Audit: Explain how and why data analysis is used near the end of an audit.
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Guidelines for Submission: The short paper should follow these formatting guidelines: 1–2 pages, double spaced, with 12-point Times New Roman font, one-
inch margins, and citations in APA style.
Critical Elements Exemplary (100%) Proficient (85%) Needs Improvement (55%) Not Evident (0%) Value
Data Analysis: Risk
Assessment Stage
Meet “Proficient” criteria and
demonstrates a keen
understanding of the benefits of
data analysis during the risk
assessment stage of an audit
Explains how and why data
analysis is used at the risk
assessment stage of an audit
Explains how and why data
analysis is used at the risk
assessment stage of an audit, but
the explanation is incomplete,
inaccurate, or unclear
Does not explain how and why
data analysis is used at the
isk assessment stage of an
audit
22.5
Critical Elements Exemplary (100%) Proficient (85%) Needs Improvement (55%) Not Evident (0%) Value
Data Analysis:
Determination of
Sampling Method
and Audit Universe
Meets “Proficient” criteria and
demonstrates a keen
understanding of the benefits of
data analysis for the
determination of sampling
method and audit universe
Explains how and why data
analysis is used in the
determination of sampling
method and audit universe
Explains how and why data
analysis is used in the
determination of the sampling
method and audit universe, but
the explanation is incomplete,
inaccurate, or unclear
Does not explain how and why
data analysis is used in the
determination of sampling
method and audit universe
22.5
Data Analysis:
Substantive
Procedures Stage
Meets “Proficient” criteria and
demonstrates a keen
understanding of the benefits of
data analysis at the substantive
procedures stage of an audit
Explains how and why data
analysis is used in the
substantive procedures stage
of audit
Explains how and why data
analysis is used in the substantive
procedures stage of an audit, but
the explanation is inaccurate,
incomplete, or unclear
Does not explain how and why
data analysis is used at the
substantive procedures stage
of an audit
22.5
Data Analysis: End
of Audit
Meets “Proficient” criteria and
demonstrates a keen
understanding of the benefits of
data analysis near the end of an
audit
Explains how and why data
analysis is used near the end of
an audit
Explains how and why data
analysis is used near the end of an
audit, but the explanation is
inaccurate, incomplete, or
unclear
Does not explain how and why
data analysis is used near the
end of an audit
22.5
Articulation of
Response
Submission is free of e
ors
elated to citations, grammar,
spelling, syntax, and organization
and is presented in a professional
and easy to read format
Submission has no major e
ors
elated to citations, grammar,
spelling, syntax, or organization
Submission has major e
ors
elated to citations, grammar,
spelling, syntax, or organization
that negatively impact readability
and articulation of main ideas
Submission has critical e
ors
elated to citations, grammar,
spelling, syntax, or
organization that prevent
understanding of ideas
10
Total 100%
ACC 411 Module Two Short Paper Guidelines and Ru
ic
Ru
ic