[ANSWERED] Reliable Printers Ltd (RPL)


Reliable Printers Ltd (RPL) – CASE ANALYSIS

Aims of this assignment:

This assignment is designed to facilitate your learning of the key skills and knowledge needed when facing a financial report audit of a company, and how to analyse, research and pinpoint facets of the company that require auditing attention.

Case Background

 This case analysis relates to the continuous case study, titled Reliable Printers Ltd (RPL), which is featured in the Appendix above. The details of the case study covers key aspects of a financial report audit.

RPL business primarily involves traditional paper-based book printing and e-book production. More specifically, RPL prints magazines, books, and advertising material for publishing, educational, and advertising industries. Their print-on-demand system allows their clients to print the exact amount of stock that is needed.

INSTRUCTIONS:

  1. Please read the RPL continuous case study background information in the textbook, and
  2. Answer the following FOUR questions – as enumerated below. In doing so, please cite relevant sections of the Auditing standards and/or related regulations where appropriate.
  • This individual assignment is worth 40 points (30 points content and 10 points presentation/written communication) and comprises 30% of your overall grade in this course.
  • Your answer should be approximately 2500 words.
  • Late submission will be deducted 4 points (10%) per calendar day. Submission is not accepted after being late 10 days.

 

Questions:

 

Please answer ALL Questions after fully reading the RPL case study.

 

  1. RPL is a new client to your firm. As the audit senior for Rogers & Brown, leading the audit team of RPL for the first time, discuss your initial steps that would be required in regards to the following:
  • Initial engagements/agreements with the client (3 points)
  • Audit Planning (3 points)
  • Industry specific strategies (3 points)
  • Preliminary materiality assessment (3 points)

(3 + 3 + 3 + 3 = 12 points)

 

 

  1. Review the initial fundamentals of the business (Appendix pages A1 to A3), analyse the financial information identify FOUR specific types of business risks that are involved in RPL, and how you (as senior auditors of RPL) will response to these identified risks.

(4 points)

 

  1. Internal controls are a vital aspect of any company. Please review the RPL Case Study (Appendix, pages A1 to A13) and discuss the following:
  2. Identify THREE control strengths and THREE control weaknesses (3 points)
  3. How the identified control strengths and control weaknesses may influence the effectiveness of the control environment (3 points)
  4. What control tests would be applicable for each control strength (3 points)

 

(3 + 3 + 3 = 9 points)

 

  1. Analyse the boards’ year-end reporting discussions (Appendix, page A3) and explain THREE proposed changes and how these proposed changes may affect your audit.

(5 points)

 

Total Content – 30 points

 

 

 

Individual Assignment Rubrics

 

CONTENT (30 points)      
30.0 to > 24.0 pointsExcellent (HD)

 

Very clear identification and discussion/ explanation of the questions. Discussion is always relevant to the questions. Discussion always includes adequate detail of the case study. Cite all relevant sections of the Auditing standards and/or related regulations

 

24.0 to >18.0 pointsGood (DI/CR)

 

Clear identification and discussion/ explanation of the questions. Discussion is mostly relevant to the questions. Discussion mostly includes adequate detail of the case study. Cite most relevant sections of the Auditing standards and/or related regulations

 

18.0 to > 12.0 pointsSatisfactory (PA)

 

Fairly clear identification and discussion/ explanation of the questions. Discussion is usually relevant to the questions. Discussion usually includes adequate detail of the case study. Cite many relevant sections of the Auditing standards and/or related regulations

 

12.0 to > 6.0 pointsNeeds improvement (NN)

 

Identification but only limited discussion/ explanation of the questions. Discussion sometimes too general and/or not relevant to the questions. Discussion is lack of adequate details of the case study. Cite some irrelevant sections of the Auditing standards and/or related regulations

 

6.0 to > 0.0 pointsPoor (NN)

 

Identification but very limited discussion/ explanation of the questions. Discussion usually too general and/or not relevant to the questions. Discussion is very lack of details of the case study. Cite many irrelevant sections of the Auditing standards and/or related regulations

 

0.0 pointsNo mark

 

Incorrect identification and irrelevant discussion/ explanation of the questions. Discussion does not include details of the case study. No attempt to cite relevant sections of the Auditing standards and/or related regulations

 

PRESENTATION/WRITTEN COMMUNICATION (10 points) 
10.0 to > 8.0 pointsExcellent (HD)

 

The written submission is professionally presented. All grammar and punctuation is correct. No spelling or other communication errors. It is at an excellent standard that could be presented to a superior in the workforce or a client. Sources acknowledged with full reference details. Turn-it-In similarity percentage is under 10%. Words count = +/- 10% the recommended words count.

 

8.0 to >6.0 pointsGood (DI/CR)

 

The written submission is generally well presented. Occasional errors in grammar and punctuation are present. Very few spelling and/or other communication errors. It is at a very good standard that could be presented to a superior in the workforce or a client. Sources acknowledged with full reference details. Turn-it-In similarity percentage is between 10% and 19%. Words count: +/-20% the recommended words count.

 

6.0 to >4.0 pointsSatisfactory (PA)

 

The written submission is averagely presented. Errors in grammar and punctuation are usually present. Many spelling and/or other communication errors. It is at a low standard that should not be presented to a superior in the workforce or a client. Sources are not always acknowledged with full reference details. Turn-it-In similarity percentage is between 20% and 29%. Words count: +/-30% the recommended words count.

 

4.0 to >2.0 pointsNeeds improvement (NN)

 

The written submission is poorly presented. There are many spelling, grammar, punctuation errors that detract from the quality of the communication but do not prevent the ideas being effectively communicated. It is at low standards that could not be presented to a superior in the workforce or a client. Sources are not acknowledged or insufficient reference details. Turn-it-In similarity percentage is between 30% and 39%. Length: 40-50% recommended words count.

 

2.0 to > 0.0 pointsPoor (NN)

 

Major improvements in the presentation of the written submission. The level of errors in spelling, grammar and punctuation are such that the statement cannot be understood. It is at too low standards that could not be presented to a superior in the workforce or a client. Sources are not acknowledged, without reference details. Turn-it-In similarity percentage is between 40% and 49%. Length: 30-40% recommended words count

0.0 pointsNo mark

 

The level of errors in spelling, grammar and punctuation are such that the statement cannot be understood. It is at too low standards that could not be presented to a superior in the workforce or a client. Sources are not acknowledged, without reference details. Turn-it-In similarity percentage is 50 and above. Length: under 30% recommended words count

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