Combine And Discuss The Following Issues Into A Single Coherent Memo 2

Combine
and discuss the following issues into a single coherent memo:

1) Audit risk is a key
consideration and guide to planning an audit – explain why?

2) List the key components of the
Audit Risk Model (ARM) and discuss how they interact?

3) How can well-structured or
judicious statistical sampling assist with estimating the components of the Audit Risk Model and/or resolve an
unsatisfactory outcome of that model? and

4) Discuss the differences
between random sampling, haphazard sampling, and judgement sampling and how
those differences might affect the discussion in part 3 (above).

Task Ranking Task Description	Very poor under- standing of task. Little or no value generated. (0-20 %)	Poorunderstanding of task. Some value generated. (20-40 %)	Acceptableunder-standing of task. Acceptable value (40-60 %)	Good understanding of task. Good value given. (60-80 %)	Excellent understanding of task. Excellent value given. (80-100 %)
1)	Headings (5.0)	Missing a lot or all headings 0.0-1.0	Missing one or more essential features and/ /or poorly organised 1.0-2.0	All headings but poorly organised and/or difficult to read 2.0-3.0	All headings, well organised but some difficulty reading it. 3.0-4.0	All headings are clean & easy to read. e.g. To: XXXXXX From: YYYYYYYYY Date: 27/04/2014 Re: Ideally 6 to 12 words 4.0-5.0
2)	Context Line (15.0)	Little or no insight on the issue with many irrelevancies. 0.0-3.0	A confused statement of the issue with some irrelevancies 3.0-6.0	A clear statement of the issue 6.0-9.0	A clear and concise statement of the issues 9.0-12.0	A clear and concise statement of the issues & consequences 12.0-15.0
2)	Action Line (25.0)	Generally confused with no request or conclusion. 0.0-5.0	A confused request or conclusion—may be poorly placed (e.g. at the end or blended with other parts). 5.0-10.0	An acceptable request or conclusion, given near the start. 10.0-15.0	A good clear concise request or conclusion, given near the start. 15.0-20.0	An excellent clear concise statement of how to resolve the issues. 15.0-25.0
4)	Rest of the Memo (25.0)	Generally confused discussion with little or no linkage to the issues and/or action line. 0.0-5.0	Confused and poorly linked to the issues and/or action line. 5.0-10.0	Acceptable insight plus clear support for the action line. 10.0-15.0	Good insight plus strong, clear, and concise support for the action line. 15.0-20.0	Excellent insight plus strong, clear, and concise support for the action line that is clearly tied to it. 15.0-25.0
Total Mark	/70
Adj. to 7.0	/7.0	Student Numbers:

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Combine And Discuss The Following Issues Into A Single Coherent Memo 2

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