Assessment Title 

A Case study in discussing the legal and ethical responsibilities of the Auditor Unit Learning Outcomes Addressed:

a. Explain the organization’s and the auditor’s responsibilities for an audit 

b. Discuss reasons for performing different types of audits 

c. Understand the importance of planning an audit and distinguish the steps involved 

d. Explain and apply the auditing standards, practice and process of auditing to practical situations 

e. Identify and evaluate the risks inherent in an audit, and report on current auditing 

Principally you will be marked on four components: 

Were any errors or mistakes made during the audit under consideration 

Legal issues both from a statue perspective (corporate law) and other legal issues. 

Ethical issues 

Format, Presentation Quality and Demonstration of 

 As mentioned above, Part should be presented in a academic paper format. A key aspect in your choice of format/layout should be to ensure you impart your key messages effectively (i.e., complete the requirements) and efficiently.

Required: Discuss what errors if any were made in the audit of the Centro Properties group in and the subsequent legal actions against the auditor by both ASIC and other parties. Explain in your own words what influence the events surrounding this case are having on auditors.