Case Study Report With 2500-3000 Words

TOPIC: ASIC TO SUE KPMG FOR $200 MILLION OVERWESTPOINT AUDITS Purpose This assignment aims to enhance students’ critical thinkingskills and higher order application abilities by researching and analysing alegal case involving the litigation of an auditor/audit firm.
Students willneed to propose and document mitigating measures to address the risk oflitigation and make appropriate recommendations to the audit approach, in termsof the audit strategy adopted, the audit procedures required in the auditprogram and other appropriate ways for the auditor to mitigate against bothprofessional reputational damage and financial losses.
With reference to the facts of the selected case, thesignificant Auditing and Accounting issues and the final judgement handed downin your selected case: ·Provide a brief description of the key events and the factual issues behind thecase· Explain the culpabilityor which parties were deemed responsible and why.
Outline the damages imposedor the penalties and consider whether they were appropriate.· investigate and explainthe relevant issues in Auditing and Accounting raised by the case,· The root-cause of theissues such as; market pressure, organisational culture, fraud etc.· any problems, mistakes ormisrepresentations made by the defendants, which contributed to the adversejudgement and the awarding of damages, ·Finally, provide recommendations and possible improvements to: the AuditStrategy, the Audit Program, Other effective measures; which would prevent the recurrence of the same litigation inthe future and maintain the professional reputation of auditors.
Will disclose complete report requirements and formats once its accepted.
Tags: Account Management, Auditing


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