Part - 1

You are to reflect on how this case of china sky relates to what the arguments for and against allowing audit firm partners and/or employees to join audit committees.

Link for personal reflection

Http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1222404/1/.html

Part - 2

Topic is on corporate governance

Required: you must collect evidence on the reforms to corporate governance mechanisms in singapore. You must research this topic in order to understand the reforms. You must collect evidence from reliable sources and well you feel confident that you have a full understand you must choose the best evidence to upload.

Related question: for the reflection, you must relate how these corporate governance reforms will impact on the audit process, namely how it will affect the auditor requirement on gaining an understanding of the client.

Link for corporate governance:

http://www.businessinsider.com/new-corporate-governance-codes-to-shake-up-singapores-boardrooms-2011-6

Part - 3

Topic focuses on compensation paid to top executives. Listed companies are required to make certain disclosures in their annual reports about the compensation paid to their top executives. One reason for this is to help interested stakeholders assess performance of executives. It also helps executives and companies set appropriate compensation levels, based on what other companies in the same industry and/or of the same size are paying their executives.

Reflection related question

you are required to collect four annual reports of four listed australian companies in the same industry. Extract the information on executive remuneration and describe the data using graphs and tables. Your reflection must address the following questions

• how are the executives paid? (cash, bonuses etc)
• which companies executives are paid most and what is the range of pay?
• which companies executives' pay is most linked to the company's profit and/or share price performance?

Part -4

Overview of tests of controls, substantive procedures and sampling

required: collect evidence on the famous fraud in the united states in the 1930's of mckesson & robbins
Related reflection question:

Part a) write a short description of the case

Part b) make a list of defects in the company's system of internal controls that are relevant to the fraud and suggest audit tests that would have revealed these problems.

Part- 5

Research a company (can be from u.s, europe, canada, singapore, china or australia) where there has been a fraud detected in the trade receivables account.

Write a short summary on the background of the case (describe what took place -you should be able to explain it as such that a person not studying auditing should be able to understand) and how the fraud was uncovered.