Module CodeModule Title
Module Credits
GAA6003
AUDIT AND CORPORATE GOVERNANCE
20
Academic Year and
Semester
Examination Board
Level & Block
2023-24, 2nd Semester
July 2024
L6-B2
Method of Assessment
Term (Mid-term /End-term)
Weighting
Coursework
End-Term
70%
Module Leader
Module Leader email
Dr.Neelufer Aslam
neelufer@gulfcollege.edu.om
Additional Information (if any)
Version 1
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Contents
1. Assessment Details
2. Submission Details
3. Assessment Criteria
4. Further Information
Who can answer questions about my assessment?
Referencing
Submission problems
Unfair academic practice
How is my work graded?
5. IV form
Version 1
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Assessment Details
Assessment title
Abr.
Weighting
Coursework
WRIT1
70%
Pass marks for undergraduate work is 40%, unless stated otherwise.
Task/assessment brief:
Fraud and error present risks to an entity. Both internal and external auditors are required to
deal with risks to the entity. However, the role of internal and external auditors in relation to the
detection of risk of fraud and error differ. You are required to prepare a report of two thousand
eight hundred (2800) words on “Role of Internal and External Audit in detection of risk of fraud
and error in an entity” that addresses the following.
Task 1: Introduction: Explain the meaning and types of errors and frauds. (10 marks; 200 words)
Task 2: Critically explain how internal audit function helps an entity deal with the risk of fraud and error.
(20 marks; 600 words).
Task 3: Examine the responsibilities of external auditor in respect of risk of fraud and error in audit of
financial statements (20 marks; 600 words).
Task 4: Critically evaluate the steps an auditor must take when identifying and assessing misstatement
(20 marks; 600 words).
Task 5: Critically discuss the limitations of the internal and external auditor in identifying the risk of
fraud and error (20 marks; 600 words)
Task 6: Conclusion: Summarising the main points of the report (10 marks; 200 words)
References
Use at least 10 sources preferably refereed accounting journals and books or e-books and academic
websites using the proper Harvard Referencing Style.
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Additional instructions:
*************
Word count (or equivalent):
2800 words
This is a reflection of the effort required for the assessment. Word counts will normally include any text,
tables, calculations, figures, subtitles and citations. Reference lists and contents of appendices are
excluded from the word count. Contents of appendices are not usually considered when determining
your final assessment grade.
Academic or technical terms explained:
Submission Details
Submission
Deadline:
End – 30th May 2024
After the result
announcement (10
working days) – July 2024
EB
Estimated
Feedback
Return Date
Submission
Time:
9:00 PM
Turnitin:
Any assessments submitted after the deadline will not be marked and will be
recorded as a non-attempt unless you have had an extension request agreed or have
approved mitigating circumstances. See the Gulf College website for more
information on submission details and mitigating circumstances.
File Format:
The assessment must be submitted as a word document and submit through the
Turnitin submission point.
Your assessment should be titled with your:
Student ID number, Module code and Assessment ID,
e.g. 1610200 GAC3000 WRIT1
Feedback
Feedback for the assessment will be provided electronically via Turnitin / MS Teams
/ Face to Face. Feedback will be provided with comments on your strengths and the
areas which you can improve. Module tutors give students two types of assessment
feedback: formative, which is given when the student is working on the completion
of an assignment or coursework, and summative, which is given upon completion of
Version 1
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the module. A comprehensive assessment feedback on your performance will be
given after the announcement of the results. (10 Working Days)
Assessment Criteria
Learning outcomes assessed
On successful completion of the module, a student should be able to:
Understand the advanced theories and practice of auditing activities and procedures.
Critically analyse and evaluate issues relating to auditing and the auditor’s responsibilities
Understand and critically analyse the recent developments in corporate governance in Omani
Context.
Understand and critically analyse the theories and practices related to Corporate Governance for
the Omani Listed Companies.
In addition, the assessment will test the following learning outcome:
Understand and critically analyse the recent developments in corporate governance in Omani
Context.
Understand and critically analyse the theories and practices related to Corporate Governance for
the Omani Listed Companies.
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Marking/Assessment Criteria
Question
No.
Task
Description
1. Introduction discussing meaning and types of errors and frauds
with in-text citations
Marks
Allocated
10 marks
2. Examination of the role of internal audit in detecting the risk of
fraud and error with supporting examples.
20 marks
3. Examination of the responsibilities of external auditor in respect
of risk of fraud and error in audit of financial statements with
supporting examples.
20 marks
4. Critical evaluation of the steps an auditor must take when
identifying and assessing misstatement within text citations.
20 marks
5. Discuss the limitations of the internal and external auditor in
identifying the risk of fraud and error with supporting examples.
20 marks
6. Conclusion summarising main points
10 marks
Total
100 %
Version 1
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AY: 2023-24 / 2nd Semester
Marking Criteria/Rubrics
Introduction 10
marks
T1 Discussion1
20 marks
Version 1
0
No answer
No answer
given or a
totally
irrelevant
answer.
No answer
given or a
totally
irrelevant
answer.
20
Very Poor
An attempt to
answer the
basic
requirements
of the task but
lacks clarity;
highly
irrelevant
ideas and
concepts;
highly
irrelevant
materials
which reflects
very limited
subject
knowledge;
no
assignment
objectives set
An attempt to
answer the
basic
requirements
of the task but
lacks clarity;
very poor
comprehensio
n of the
theories and
concepts;
unable to
relate the
theories and
concepts to
other fields of
study; unclear
discussion of
30
Poor
Poor
discussion of
the
assessment
task;
irrelevant
ideas and
concepts;
irrelevant
materials
which reflects
very limited
subject
knowledge;
no clear
assignment
objectives
40
Satisfactory
Basic
discussion of
the
assessment
task; limited
ideas and
concepts;
limited use of
relevant
materials
which reflects
limited subject
knowledge;
assignment
objectives are
unclear
50
Good
Good
discussion of
points in the
assessment;
relevant
ideas;
relevant
materials
reflects
subject
knowledge;
assignment
objectives are
set
60
Very Good
Very good
discussion of
the points in
the
assessment
task; relevant
ideas and
concepts;
relevant
materials
reflects
thoroughness
of subject
knowledge;
assignment
objectives are
defined
Poor
identification,
assessment
and
evaluation of
Operations of
the
relationships
with no
examples.
There is
analysis and
expressions
of ideas but
lacks clarity.
Not able to
provide
There is an
attempt to
identify,
assess and
evaluate the
relationships
but not
supported by
relevant
examples.
Limited
analysis and
expressions
of ideas with
very limited
arguments.
There are
grammar
Able to
identify,
assess and
evaluate the
relationships
but supported
by few
examples.
There is good
analysis and
expressions
of ideas with
only some
logical
arguments.
There are few
grammar
errors and
Very good
answer with
detailed
identification,
assessment
and
evaluation the
relationships
supported by
relevant
examples.
Very good
analysis and
effective
expressions
of ideas with
logical ideas.
There are
Page 7 of 9
70
Excellent
Excellent
discussion of
the main
points in the
assessment
task; highly
relevant ideas
and concepts;
excellent
presentation
of relevant
materials
which reflects
thoroughness
of subject
knowledge;
clearly
defined
assignment
objectives
Excellent
answer with
detailed
identification,
assessment
and
evaluation the
relationships
supported by
relevant
examples.
Excellent
analysis and
effective
expressions
of ideas with
logical ideas.
There are
80
Outstanding
Outstanding
discussion of
the main
points in the
assessment
task; highly
relevant ideas
and concepts;
outstanding
presentation
of relevant
materials
which reflects
thoroughness
of subject
knowledge;
clearly
defined
assignment
objectives
Outstanding
answer with
detailed
identification,
assessment
and
evaluation the
relationships
supported by
relevant
examples.
Outstanding
analysis and
effective
expressions
of ideas with
logical ideas.
There are no
100
Exceptional
Exceptional
discussion of
the main
points in the
assessment
task; highly
relevant ideas
and concepts;
exceptional
presentation
of relevant
materials
which reflects
thoroughness
of subject
knowledge;
clearly
defined
assignment
objectives
Exceptional
answer with
detailed
identification,
assessment
and
evaluation the
relationships
supported by
relevant
examples.
Exceptional
analysis and
effective
expressions
of ideas with
logical ideas.
There are no
T1 Critical
Evaluation1
20marks
T1 Discussion 2
20marks
Version 1
No answer
given or a
totally
irrelevant
answer.
No answer
given or a
totally
irrelevant
answer.
the key terms
of the
assessment.
relevant
arguments.
errors and
improper intext citations.
improper intext citations.
An attempt to
answer the
basic
requirements
of the task but
lacks clarity;
very poor
comprehensio
n of the
theories and
concepts;
unable to
relate the
theories and
concepts to
other fields of
study; unclear
discussion of
the key terms
of the
assessment.
Poor
identification,
assessment
and
evaluation of
Operations of
the
relationships
with no
examples.
There is
analysis and
expressions
of ideas but
lacks clarity.
Not able to
provide
relevant
arguments.
There is an
attempt to
identify,
assess and
evaluate the
relationships
but not
supported by
relevant
examples.
Limited
analysis and
expressions
of ideas with
very limited
arguments.
There are
grammar
errors and
improper intext citations.
Able to
identify,
assess and
evaluate the
relationships
but supported
by few
examples.
There is good
analysis and
expressions
of ideas with
only some
logical
arguments.
There are few
grammar
errors and
improper intext citations.
An attempt to
answer the
basic
requirements
of the task but
lacks clarity;
very poor
comprehensio
n of the
theories and
concepts;
unable to
relate the
theories and
concepts to
other fields of
study; unclear
discussion of
the key terms
Poor
identification,
assessment
and
evaluation of
Operations of
the
relationships
with no
examples.
There is
analysis and
expressions
of ideas but
lacks clarity.
Not able to
provide
relevant
arguments.
There is an
attempt to
identify,
assess and
evaluate the
relationships
but not
supported by
relevant
examples.
Limited
analysis and
expressions
of ideas with
very limited
arguments.
There are
grammar
errors and
Able to
identify,
assess and
evaluate the
relationships
but supported
by few
examples.
There is good
analysis and
expressions
of ideas with
only some
logical
arguments.
There are few
grammar
errors and
Page 8 of 9
minor gaps on
grammar and
in-text
citations.
Very good
answer with
detailed
identification,
assessment
and
evaluation the
relationships
supported by
relevant
examples.
Very good
analysis and
effective
expressions
of ideas with
logical ideas.
There are
minor gaps on
grammar and
in-text
citations.
Very good
answer with
detailed
identification,
assessment
and
evaluation the
relationships
supported by
relevant
examples.
Very good
analysis and
effective
expressions
of ideas with
logical ideas.
There are
minor gaps on
limited gaps
on grammar
and in-text
citations.
Excellent
answer with
detailed
identification,
assessment
and
evaluation the
relationships
supported by
relevant
examples.
Excellent
analysis and
effective
expressions
of ideas with
logical ideas.
There are
limited gaps
on grammar
and in-text
citations.
Excellent
answer with
detailed
identification,
assessment
and
evaluation the
relationships
supported by
relevant
examples.
Excellent
analysis and
effective
expressions
of ideas with
logical ideas.
There are
limited gaps
gaps on
grammar and
in-text
citations.
Outstanding
answer with
detailed
identification,
assessment
and
evaluation the
relationships
supported by
relevant
examples.
Outstanding
analysis and
effective
expressions
of ideas with
logical ideas.
There are no
gaps on
grammar and
in-text
citations.
Outstanding
answer with
detailed
identification,
assessment
and
evaluation the
relationships
supported by
relevant
examples.
Outstanding
analysis and
effective
expressions
of ideas with
logical ideas.
There are no
gaps on
gaps on
grammar and
in-text
citations.
Exceptional
answer with
detailed
identification,
assessment
and
evaluation the
relationships
supported by
relevant
examples.
Exceptional
analysis and
effective
expressions
of ideas with
logical ideas.
There are no
gaps on
grammar and
in-text
citations.
Exceptional
answer with
detailed
identification,
assessment
and
evaluation the
relationships
supported by
relevant
examples.
Exceptional
analysis and
effective
expressions
of ideas with
logical ideas.
There are no
gaps on
of the
assessment.
T1 Critical
Evaluation 2
20marks
T1: Conclusion
10 marks
Version 1
No answer
given or a
totally
irrelevant
answer.
No answer
given or a
totally
irrelevant
answer.
improper intext citations.
improper intext citations.
An attempt to
answer the
basic
requirements
of the task but
lacks clarity;
very poor
comprehensio
n of the
theories and
concepts;
unable to
relate the
theories and
concepts to
other fields of
study; unclear
discussion of
the key terms
of the
assessment.
Poor
identification,
assessment
and
evaluation of
Operations of
the
relationships
with no
examples.
There is
analysis and
expressions
of ideas but
lacks clarity.
Not able to
provide
relevant
arguments.
There is an
attempt to
identify,
assess and
evaluate the
relationships
but not
supported by
relevant
examples.
Limited
analysis and
expressions
of ideas with
very limited
arguments.
There are
grammar
errors and
improper intext citations.
Able to
identify,
assess and
evaluate the
relationships
but supported
by few
examples.
There is good
analysis and
expressions
of ideas with
only some
logical
arguments.
There are few
grammar
errors and
improper intext citations.
An attempt to
summarise
the
assessment
task; very
poor
synthesis of
the
assessment
task; very
weak
summary of
the points
presented;
very weak
position on
the points
raised
Poor
synthesis of
the
assessment
task; weak
summary of
the points
presented;
weak position
on the points
raised
Satisfactory
synthesis of
the
assessment
task;
satisfactory
summary of
the points
presented;
unclear
position on
the points
raised
Good
synthesis of
the
assessment
task; good
summary of
the points
presented;
clear position
on the points
raised
Page 9 of 9
grammar and
in-text
citations.
Very good
answer with
detailed
identification,
assessment
and
evaluation the
relationships
supported by
relevant
examples.
Very good
analysis and
effective
expressions
of ideas with
logical ideas.
There are
minor gaps on
grammar and
in-text
citations.
Very good
synthesis of
the points of
the
assessment
task; very
good
summary of
the
evidences;
strong
position on
the points
raised
on grammar
and in-text
citations.
Excellent
answer with
detailed
identification,
assessment
and
evaluation the
relationships
supported by
relevant
examples.
Excellent
analysis and
effective
expressions
of ideas with
logical ideas.
There are
limited gaps
on grammar
and in-text
citations.
Excellent
synthesis of
the main
points of the
assessment
task; excellent
summary of
the evidences
presented;
profound
position on
the main
points raised
grammar and
in-text
citations.
Outstanding
answer with
detailed
identification,
assessment
and
evaluation the
relationships
supported by
relevant
examples.
Outstanding
analysis and
effective
expressions
of ideas with
logical ideas.
There are no
gaps on
grammar and
in-text
citations.
Outstanding
synthesis of
the main
points of the
assessment
task;
outstanding
summary of
the evidences
presented;
profound
position on
the main
points raised
grammar and
in-text
citations.
Exceptional
answer with
detailed
identification,
assessment
and
evaluation the
relationships
supported by
relevant
examples.
Exceptional
analysis and
effective
expressions
of ideas with
logical ideas.
There are no
gaps on
grammar and
in-text
citations.
Exceptional
synthesis of
the main
points of the
assessment
task;
exceptional
summary of
the evidences
presented;
profound
position on
the main
points raised
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