ACCY342 Assessment 2 – Individual Essay

Due date: In your tutorial in week 11.
Weighting: 20%
Length: 2,000 words ± 10% (excluding references and appendices)

The individual assignment aims to give you an understanding of real life auditing issues and an appreciation of the link between theory and practice. It further aims to foster your research, critical analysis and communication skills.

Your essay should cover the following:

The WorldCom collapse in the USA raised several issues with regard to Audit and Accounting.

a) discuss three audit and/or accounting issues (such as independence, due diligence and valuation) that arose during the WorldCom collapse
b) critically discuss the relevance (if any) of the WorldCom scandal to Australian Auditors

Students must reference at least 8 academic journals (and 2 or more newspaper or professional accounting magazine articles), applicable audit standard(s). Students should also identify any other standards or references to the Code of Ethics for Professional Accountants, which should have enabled the auditor(s) to identify and address the problems in the WorldCom Audit. Less than 10 references will be considered insufficient.

Style and Format

• This assignment requires the student to complete an academic style essay (not a report).
• This assessment task must be word processed, in size 12 Times New Roman font using double-line spacing with a left margin of 2cm.
• Include a signed cover sheet on the front of your essay. This is available on the Moodle site or at
• The Faculty of Business uses the Harvard method of referencing. The library website also provides useful information on how to correctly use referencing and citing:

Assessment Submission

• This assessment task has been set up to be checked by Turnitin, a tool for checking if it has unreferenced content. You can submit your assessment task to Turnitin at least five days prior to the due date and Turnitin will give you an originality report. You can then make any changes that may be required and re-submit your final version by the due date.
• Two copies need to be submitted by Week 11.
o A soft copy of the essay is required to be submitted through Essay Submission Turnitin box on Moodle site.
o A hard copy of the essay needs to be submitted in your assigned Week 11 tutorial.
o When you hand in your hardcopy, please print the summary page of your Turnitin report (not the entire report) and attach it with the hardcopy. Also, please make sure your hardcopy and softcopy are consistent, fail to fulfil this requirement may lead to investigation.

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