Audit Team Learning: Duties, Responsibilities, and Ethical Practices in Cloud 9 Audit

Running head: REFLECTIVE JOURNAL 1
Reflective Journal
Name
Institution

Accountability
Attachment 1 – attach an extract from your Reflective Journal that talks about your team work skills (see C1: i, ii
or iii in the additional assessment information sheet in the Assessment block in Moodle).
Summarise your duties and responsibilities as an Audit Assistant for the Cloud 9 audit for weeks 5 to 8 inclusively.
The duties and responsibilities as a deputy for Cloud 9 involved researching about materiality for purposes of
calculating planning materiality for week 5. I was also expected to define the concept of materiality and its
significance to auditors. As an assistant, I was expected to differentiate between qualitative, quantitative and setting
materiality. During the 6th week my responsibilities included defining and explaining objectives of why Josh Thomas
might test controls over account receivables and its implication. My task and responsibilities for week 7 involved
understanding auditors needs to assess risk of the business with respect to financial statement assertion.
Summarise your duties and responsibilities as an Audit Senior for the Cloud 9 audit.
As an audit senior, my tasks involved bringing my team together to achieve the assigned task. In this matter, my roles
involved assigning responsibilities to each member of my team to accomplish task for week 5. During the week, the
activities were researching on materiality in order to be able to calculate planning materiality. During week 6 my
responsibility as an audit senior was to delegate duties to find relevant information to answer questions on internal
control and accounts receivables. During week 7, my role was to evaluate risk assertion by answering two parts on
financial assertion and things to consider when hiring an auditor.
How did you perform your role as a team member? Identify your team work strengths and weaknesses, or aspects of
the role you found challenging. Use an extract from your Reflective Journal to support your claims.
My performance is attributed to collaborating with the rest of the members to accomplish our tasks and responsibility.
I consulted with my team regarding a particular information that I could not find as a result of the YouTube links
failing to work. My strength in this instance was evident through collaboration where another member suggested
another alternative. Effective communication assisted me as team member to contribute meaningfully to the task and
responsibility such as finding information from various sources by the members of the group. The challenging part
was determining the appropriate base to use in calculating materiality.
How did you perform your role as a leader? Identify your team work strengths and weaknesses, or aspects of the role
that you found challenging. Refer to your Reflective Journal extract for substantiation.
Being a leader my role was to provide other members with clear and direct instructions on the activities that were to
be done. I assigned other members tasks to complete and provide feedback to answer questions on Cloud 9 audit.
Furthermore, I was accountable to all members’ activities and I ensured that we collaborated to provide sufficient
information. Among the strength that I had is establishing trust and motivating other members. In addition, I was
efficient in managing my team to ensure that we provided reliable solutions. Major weakness that I experienced is
determining the correct base to calculate materiality.
Performance
Attachment 2 – attach an extract from your Reflective Journal that talks about your performance. Focus on your
problem-solving and information literacy abilities which you used while working with your audit team (see C2: i, ii
or iii in the additional assessment information sheet in the Assessment block in Moodle).
Summarise your overall performance and the role you played in communicating your ideas during the audit process.
Substantiate your claims with your chosen extract from your Reflective Journal.
My contribution to the team involved identifying the problems and structuring the process to solve these problems.
The activities required me to get information about the task in order to disseminate the information to the other
members. This involved seeking key information that was to be used in answering the question such as three
objectives of internal control in order to answer its impact on account receivables. Performance was also determined
through my role in evaluating the impact of controls with respect to operating satisfactory and unsatisfactory. I was
also tasked with the role on ensuring my team conducts itself professionally in answering the questions. Also, I
played a significant role in communicating ideas to my group in the project. The first objective in communicating
information to the team was to be direct, specific and clear. This was achieved through delegating of specific duties to
the members in a manner that is was easy for them to provide relevant information. More so, I ensured that I listened
to my team members whenever they had feedback, suggestion and opinion about the audit. Additionally, all the
information that we managed to collect was recorded down for purposes of accountability.
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