Coursework of FIN4053/4054

This coursework of FIN4053/4054 consists of 3 main components: (i) Individual essay; (ii) Case study writing; and (iii) Presentation

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COURSEWORK QUESTION
Essay (20%) Question: Based on the recent findings of Financial Reporting Council (FRC) in 2018, the Big four in
UK were criticized for unacceptable deterioration in audit quality for the past five years.
KPMG’s performance in terms of audit quality was even far worse than that of its rivals. One
of the potential factors is that auditors seem to have issues upholding professional ethics and
values at the workplace. At the same time, in early April 2018, the IESBA released a completely rewritten and revamped
Code of Ethics for professional accountants (PAs). Renamed “International Code of Ethics for
Professional Accountants (including International Independence Standards) (“the Code” or
“the revised and restructured Code”), the Code will become effective in June 2019. It packages
all substantive advancements in ethics and independence over the last four years into a single
document and includes the new provisions relating to non-compliance with law and regulations
(“NOCLAR"), which are already effective since July 2017, and the revised independence
provisions relating to long association which comes into effect in December 2018.
Task assigned:

Given the importance for acting ethically and complying necessary regulation in a professional
capacity, critically evaluate the importance of IESBA’s revised code of ethic on regulating the
behavior of auditors. You should focus on how the revised code of ethics might affect the
provision of audit-related services and auditor’s independence. Support your argument with
any applicable theory and (or) empirical evidences.

(Total: 100 marks)

Note:
Refer Appendix 1 for the remaining marks allocation. The total marks for this assignment is 100% but it carries 20% of overall assessment for this
module. * The detailed marking criteria’s for the allocation of 100 marks is provided in Appendix 1

LENGTH REQUIRED
2000 words +/- 10%. Any deviation from this will be penalized. FORMATTING AND LAYOUT
 A Microsoft Office Word Document or other relevant applications as permitted by
module lecturer/ typed using computer. Usage of typewriter or hand - written is
STRICTLY not allowed.
 12 font size, Time New Roman font and bold title and sub titles
 A4 sized paper
 Fully justified alignment
 1½ line spacing
 Margins of 1” at top and bottom; left and right