Based on your own independent scholarly research combined with an analysis of the extract above from www.ifac.org, the two links noted above
(i.e. from CPA Australia and the APESB) and the two journal articles already listed namely:
“Does Mandatory Audit Partner Rotation Influence Auditor Selection Strategies?” and
“Impact of audit tenure and audit rotation on the audit quality: Big 4 vs non-Big 4”
Prepare and complete an essay which addresses the question posed below;
Essay Question – Is compulsory auditor rotation a net positive for the client?
Students are to use a discursive essay approach which effectively considers both sides of the argument and then includes a considered and clear conclusion at the end which is based on a logical evaluation.
Topic: Is compulsory auditor rotation a net positive for the client?
Background and Context:
Since 2015, there has been a strong push to improve the quality of auditing. As new auditor rotation mandates are debated and adopted or rejected worldwide, a new research study takes a different approach to assessing the effects of these mandates on audit quality, as quoted below:
“A new study, “The Effects of Auditor Rotation, Professional Skepticism, and Interactions with Managers,” looks more closely at the presumed benefits of mandatory rotation and concludes that those benefits sometimes do not exist. In fact, in some cases, mandatory rotation may actually worsen the very issue that it is presumed to improve. Specifically, the basic assumption has been that auditors become more trusting of clients over time. Therefore, it is further assumed that they would be less trusting of their clients if they have to rotate…”
Refer to the two (2) links below and discuss these references in students groups before starting the assignment and addressing the requirements;
Research Assignment – Essay Structure:
1. Executive Summary
The Executive summary should be concise and not involve too much detail. It should make commentary on the main points only and follow the sequence of the report.
Write the Executive Summary after the report is completed, and once you have an overview of the whole text.
The Executive Summary appears on the first page of the report.
2. Contents Page – This needs to show a logical listing of all the sub-headings of the report’s contents.
3. Introduction – A short paragraph which includes background, scope and the main points raised in order of importance. There should be a brief conclusion statement at the end of the Introduction.
4. Main Body Paragraphs with numbered sub-headings – Detailed information which elaborates on the main points raised in the Introduction. Each paragraph should begin with a clear topic sentence, then supporting sentences with facts and evidence obtained from research and finish with a concluding sentence at the end.
5. Conclusion – A logical and coherent evaluation based on a thorough and an objective assessment of both sides of the argument.
6. Appendices – Include any additional explanatory information which is supplementary and/ or enhances the communication of the main ideas articulated in the essay report.
Ensure that you refer to the appendices in the main body paragraphs, as and where appropriate.
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