Auditing

Critically discuss the concept of audit and assurance and provide a critical evaluation of the role of audit committee and internal audit on corporate governance of Enron in this case.

1. Definition of audit and assurance.
2. Explain the differences in the role played by internal audit function and external audit function.
3. Provide an analysis on the Enron Scandal – what happened?
4. Discuss how good Corporate Governance can help in preventing company fraud.
5. Critically evaluate on how the internal audit function and audit committee of Enron could have prevented the fraud/scandal.

Recommended texts/journal (if necessary):
1. Auditing and Assurance Services, An Integrated Approach (Arens, A.A. et. Al., 2014)
2. ACCA F8 – Audit and Assurance (Kaplan Publishing UK. 2015)
3. The nature of a dynamic relationship between audit committee and auditor, both internal and external (Al-Baidhani, Dr-Ahmed, 2016)
4. “The effectiveness of internal corporate governance and auit quality: the role of ownership concentration – Malaysian evidence” (Adel AlQadasi, Sshamharir Abidin, 2018)
5. Additional evidence on the relationship between an internal audit function and external audit fees in Australia (Singh, H., Woodliff, D., Sultana, N & Newby, R. 2014)
6. The effect of internal audit function quality and internal audit contribution to external audit on audit fees (Mat Zain, M., & Mohamed, Z. 2015)
7. Auditing, 10th edition (Alan Millichamp & John Taylor)