Case A - Report Value: 15% Submission method options: Alternative submission method Task Background:

The facts are ...

2. Define the ethical issues

3. Identify the major principles, rules and values

4. Specify the alternatives

5. Compare values and alternatives

6. Assess the consequences

7. Make your decision

Question 3 (3%)

Required:

Explain the role that incorporation of auditors and a statutory cap on auditors' liability have on the limitation of auditors' liability.

Rationale

This assessment task will work towards assessing the following learning outcome/s:

• be able to explain and critically evaluate influences on audit and assurance services including: Australian and international professional standards, statutory and common laws, regulatory bodies, and public expectations within a global market.
• be able to exercise critical and reflective judgement and appreciate the value of ethical practice.