Content of the Report
Introduction
About those charged with Governance
Corporate Governance Practices
Audit Function
Conclusion
References
-I.Introduction
Brief discussion about the company: Brief history, a short background and location(s) of the business,
Mention the Business Goals/Objectives/Mission or Vision of the Company, and
Mention the products or services offered by the company, awards and recognitions received.
A brief profile of the board of directors (name list with position and meetings attended),
Procedure and conditions for selection and performance appraisal of board members, and
Membership and Functions of the Audit Committee
II. About those charged with Governance
III. Corporate Governance Practices
Names of the committees working under the board of directors
Membership and Functions of the Nomination and Remuneration Committee
Channels and methods of communication with shareholders, and
Details of any penalty attracted on account of non-compliance activities.
IV. Audit Function
Details of Internal Control audit conducted during 2021.
Details of the External audit team, and
Total remuneration paid to the External auditors
V. Conclusion
A brief note about your opinion on the current status of Corporate Governance and
A brief note on the Internal Audit system of the company.
VI. References
Web link of Corporate Governance Statements, Annual Report and related documents downloaded for preparing the assignment report. (should be arranged in the alphabetical order with serial no.).
-please the similarity should be below 10%
UNIVERSITY OF TECHNOLOGY AND APPLIED SCIENCES
Department of College of Economics and Business
Administration
AUDIT AND ASSURANCE – 1, (BAAC 2210)
First Semester, 2022-23
Group Assignment
on
Corporate Governance and Audit Function
Submitted by:
1. Name of the student: _________________________ (ID Number): _____________
2. Name of the student: _________________________ (ID Number): _____________
3. Name of the student: _________________________ (ID Number): _____________
Submitted to: ________________
Date of Submission: __ /12/2022
1
General Instructions
This assignment aims to:
✓ Develop your knowledge and understanding of the relationship between Corporate
Governance System and Audit Function
✓ Augment your research and analytical skills.
✓ Enhance your writing skills.
Methodology:
1. Select a listed company of your choice from Muscat Stock Exchange.
2. Download the corporate governance report, annual report, company news
and other data (relating to the year 2021) that you require for preparing this
report.
3. Three students should form a team and prepare a report on the Corporate
Governance activities by the company and the audit engagements
undertaken by the company.
4. Write a report of 1000 to 1200 words excluding the cover page and the
reference pages.
5. One soft copy should be submitted by each group via E-learning. Any delay
beyond the deadline shall not be accepted and a grade of F shall be placed
for the group.
6. Submit the assignment as an MS Word document. Use ‘Arial’ as the font style
and the font size should be 12. Line spacing-1.5. The margins must be
preferably Normal.
7. Give a clear explanation for each content. Merely, copying and pasting will
not attract scores.
2
8. The assignment will be uploaded and checked using Turnitin software. So,
make sure that you do not copy others’ works. Your assignment’s originality
index should be high and similarity index should be low.
Similarity index will be assessed as follows:
9. For re-submitted report, maximum score for grading will be 11 marks.
10.The soft copy of the group assignment should be uploaded in E-Learning
before 11.59 p.m. of 15th December 2022.
Rubric for Assignment Report (15 Marks)
Content of the Report
Introduction
About those charged with Governance
Corporate Governance Practices
Audit Function
Conclusion
References
Total marks
Maximum
Marks
2
3
4
3
2
1
15
Notes:
1. All the Graduate Attributes based on Course Assessment will be duly
considered.
2. Marking will be based on the assessment of the lecturer which is irrevocable.
3
Outline of the Assignment Report
I.
Introduction
➢ Brief discussion about the company: Brief history, a short background and
location(s) of the business,
➢ Mention the Business Goals/Objectives/Mission or Vision of the Company,
and
➢ Mention the products or services offered by the company, awards and
recognitions received.
II. About those charged with Governance
➢ A brief profile of the board of directors (name list with position and meetings
attended),
➢ Procedure and conditions for selection and performance appraisal of board
members, and
➢ Membership and Functions of the Audit Committee
III. Corporate Governance Practices
➢ Names of the committees working under the board of directors
➢ Membership and Functions of the Nomination and Remuneration Committee
➢ Channels and methods of communication with shareholders, and
➢ Details of any penalty attracted on account of non-compliance activities.
IV. Audit Function
➢ Details of Internal Control audit conducted during 2021.
➢ Details of the External audit team, and
➢ Total remuneration paid to the External auditors
V. Conclusion
➢ A brief note about your opinion on the current status of Corporate
Governance and
➢ A brief note on the Internal Audit system of the company.
VI. References
➢ Web link of Corporate Governance Statements, Annual Report and related
documents downloaded for preparing the assignment report. (should be
arranged in the alphabetical order with serial no.).
4
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