ACC305 Assurance and Attestation TMA Assignment Sample

Assurance and attestation is a vital service for every IT, accounting, or business and similarly essential for a business administration student to learn about that. The Top- leading Singapore University of Social Science provides the SG business graduates with a germane course namely ACC305 Assurance and Attestation.

The SUSS ACC305 is a modular undergraduate course which enables the students to comprehend the importance of assurance and attestation. Fundamental understanding of these two terms and skills for audit planning are taught in the ACC305 course.

Not just the potent knowledge but this course also provides the students with a variety of assignment writing tasks including essay writing, report writing, & dissertation making, etc. These all assignments lie under the SUSS Tutor Marked Assignment and Group-Based Assignment. Also, the students have to finish the entire homework on time otherwise it can lead to low grades in their course result.

Acknowledging the significance of the TMA and GBA, several students try to write their assignments by taking the help of some relevant books, ACC305 Assurance and Attestation TMA assignment sample, etc. but however, they are not able to set their mind how to write a fine assignment paper. Thus, most of the SG students seek an assignment helper Singapore who can complete all of their assignments on time.

Key Aim of ACC305 Assurance and Attestation Course

The key objective behind introducing the ACC305 SUSS course is to educate the students with an essential understanding of the role of assurance service. Also, this course focuses on teaching the students how to examine key concepts of risk and internal controls.

Besides, the ACC305 course aims to explain various topics like assurance service and attestation function; professional standards, professional ethics, auditor independence, etc. to ensure that the students get to understand the major concept and goal of the subject course.

Introduction to Assurance, Attestation, and Auditing

The major parts of the business, accounting, IT, or financial arena i.e. assurance, attestation, auditing are many times considered similar due to having a number of similarities but in reality, are slightly different. People generally get confused about whether they simply need to get an assurance service done or whether an audit offers attestation services.

One should comprehend all the three terms i.e. Assurance, Attestation, & Auditing in IT, accounting, compliance business environments.

Auditing: Examining the Aspects of Your Organization

Audits are the process of investigating any of the features of your organization. While the auditing goes on, different data and information is gathered which is useful for spotting any weakness in the operational controls in the financial department.

Audits also help to discern potential workplace dangers, or any IT risk that can harm the security of the organization.

Audits can be in several ways: –

• IT procedures audits
• Compliance audits
• Operational audits
• Human resource or safety policy audits
• Accounting audits

Audits can be performed for financial operations as well as non-financial operations for a company. The audits collect essential facts and information regarding any area of the organization and perform an unbiased analysis to find out any gaps in internal controls or systems that are presently in use.

A report is submitted to the business owner informing him about all the weaknesses & issues needed to be addressed.

Attestation: Verifying the Authenticity of Data and Internal Controls

In addition to the auditing report, organizations can also get an attestation from the certified public accountants. The attestation basically takes all the gathered data and information and checks its validity on the basis of which all have been agreed upon the procedure engagements.

Many times, the audit and attestation process are confused with each other. One should comprehend the major difference between both that-

The audits are carried out to gather data that has not been discovered earlier whereas, the attestation is performed to evaluate and review the truthfulness and validity of the information by comparing it to a stated purpose, internal control, or system.

Assurance: Strengthening Confidence by Reviewing the Reliability of the Information

When any company wishes to do business with another company, raise money from other investors, or even getting involved in a merger deal, one needs to get assured of the provided data and information is precise and credible.

This is the pint where the assurance service comes into action. The assurance service analyzes and provides an opinion about the information whether it is worth to use for making a decision by the company or not.

What does the SUSS ACC305 Course Teach to SG Students?

The ACC305 SUSS Assurance and Attestation course teaches the students the crucial meaning of the assurance and attestation.

This course provides a thorough understanding of how the three terms- auditing, assurance and attestation provide assistance to any business. The students learn the complete process and skills to implement them by themselves too.

Also, the students learn different topics such as financial statements and other auditing; audit process model and concepts of risks and materiality; identification of risk and assessment; audit evidence, testing, internal control and documentation; and audit sampling.

ACC305 Assurance and Attestation Course Topics

The major topics that ACC305 Assurance and Attestation course topics are as follows: –

• Overview on auditing
• Audit reports
• Audit responsibilities and objectives
• Ethics and the audit profession
• Audit planning
• Nature and type of audit evidence
• Internal control
• Materiality
• Developing the audit plan and audit program
• Implications of information technology for audit planning
• Considering the risk of fraud
• Audit sampling

Educational Upshots of ACC305 SUSS Course

As discussed in the entire ACC305 Assurance and Attestation TMA assignment sample that the students earn profound knowledge and understanding of the attestation and assurance services.

Here are the main learning outcomes of ACC305 course: –

• Demonstrate the new methods of revised auditing standards
• Gauge the major reasons behind audit failure and its effects
• Analyze the elements of the auditor’s report and suggest an audit opinion that one must give in a report
• Set up essential tests of control versus substantive testing
• Review the fundamentals of audit planning and audit risk
• Assess the accounting systems and internal control
• Grow enough essential knowledge and skills to work effectively in a team
• Explain the importance of audit sampling & the application of sampling techniques
• Define the nuance of Information Technology for audit planning

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