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Subject: Auditing and Assurance 1 Unit Code: UKAF 2113

Case Study “Goodner’s Brothers”


Any assignment which is submitted after the due date without an approved extension will be penalized.00pm th Even though the lecturer will use the case to discuss the relevant topics students are expected to produce answers that are original from their own ability to analyze and digest the case.e.g. e. ID number. medical reasons. A penalty of 10% reduction of the maximum mark applicable to the assignment will be levied for each day of late submission. Weekends & Public Holidays are counted as one(1) day late. 5. All pages must be numbered. • Assignment must be submitted in hardcopy to the respective tutor. No extension of time will be allowed except extenuating circumstances.Students should use only A4 sized paper with words presented in the format of one and a half-spaced and font-sized 12 point. as marked assignments will not be returned. Assignment submitted more than seven (7 days) after due date will be awarded with zero (0) marks.It should include the students’ name.) • Students are encouraged to retain a BACKUP softcopy of the assignment.Instructions for the preparation of group assignment A) General instructions • This assignment requires students to identify the internal control weaknesses and develop internal control procedures to alleviate those weaknesses identified for Goodner Brothers.the tyres wholesaler. It should not exceed 3000 words (* excluding reference and appendix. Title and name (i.Inc. Deadline for submission of assignment is to be strictly adhered to. e-mail address. • Cover page . lecturer’s name. The cover should also include the following information: Assessment Criteria Clarity and Language Format of the report (Including references) Content of the reports Total Marks 3% 3% 74% 80% 80% is equivalent to overall 20% of the coursework marks -2- . B) Written Report Presentation Format • Page Layout . Students who wish to apply for extension of time for extension of time for submission of assignment after the due date shall put in writing the request together with validated documentary evidence to support the application to his/her lecturer. Malaysian Institute of Accountants) are considered as 1 word. latest by 8 March 2013. code and name of the subject. The lecturer may consider to grant such extension of due date for the assignment.

Leave word with your fellow classmates on your field visit (details of place. bulleting and numbering must be used so that the report appears neat. logically arranged by topics and sub-topics. person you are interviewing or conducting survey with. address and telephone numbers) of anyone or organization you intend to conduct the field research. The field research should be made in groups not alone. without acknowledgment of the sources. If a student obtains information or ideas from an outside source. You should ensure you have the full details (full name. It is important that you are aware of potential dangers and take the necessary safety steps. unknown organizations or individuals 'on site'. in any form. job title. -3- . The field work should be at office hours. Fieldwork Clause (where applicable) Students are reminded of the importance to consider their personal safety when conducting research in the field. Students are forewarned of the consequences and the penalty that may be meted out if they are "caught in the act". contact numbers. which is not one's own. please refer to the lecturer for the detailed APA referencing system document . The University's degree and other academic awards are given in recognition of the candidate's personal achievement. etc). You have to be extra careful and cautious if you are going to interview or conduct survey with small. Intellectual Property Copyright must be seriously protected. You will be exposing yourself in new situations and meeting with people who are unknown to you. as well as ease to be read. The University takes a strong stand against any illegal photocopying of textbooks and any other materials by students. that source must be acknowledged.• Content – Proper paragraphing. Mode of Referencing Students are advised to incorporate proper academic modes of referencing. Another rule to follow is that any direct quotation must be placed in quotation marks and the source immediately cited. Plagiarism is also defined as copy of all or part of the work of another student(s) of current or previous batch of this University or another higher learning institution. Plagiarism is therefore considered as an act of academic fraudulence and as an offence against University discipline. organization name. expected time of return. You should establish the credibility of these respondents before your groups visit them. The normally acceptable mode of academic referencing is the American Psychological Association (APA) system. C) Academic Regulations Plagiarism Plagiarism is defined as the submission or presentation of work.

Assume you are the internal auditor of Goodner Brothers Inc.Group assignment Questions. the wholesaler of tyres. (30 marks) 3) Develop control policies or procedures to alleviate the control weaknesses you identified in responding to question (2) above. The case enclosed is on Goodner Brothers Inc. Woody was in serious financial trouble. The act of Woody was a form of major fraud. (30 marks) 4) Analyse with reason(s). To remedy this problem. In the report you are required to: 1) List and explain what you believe should have been the key internal control objectives for Goodner’s Huntington sales office 240 (8 marks) 2) Identify six key control weaknesses and its implication that were evident in Huntington unit’s operations. 180 (6 marks) (Total 74 marks) -4- . which other parties besides Woody Robinson. which he then sold to other parties. the employee took advantage of his employer’s weak internal controls by stealing a large amount of inventory. Write a report to the board of Goodner Brothers Inc. An employee of this company. were at least partially responsible for inventory losses Goodner suffered.