Group Peer And Self Review Assessment Essay
Self Review Assessment (Group 2)
Strengths We have discussed four key risk accounts by considering the business operation of Toshiba. Comparing with the assessed group’s essay, we have analysed that essay written by Group 2 has been presented in the logical frame with some conjunction; hence it is easier to be understood by the readers. Indeed the essay written has strengths as follows:
1. Discussion about derivatives
Our essay considered the nature of Toshiba which is a global-wide company facing a risk of volatility in their business. Toshiba employs a variety of derivative financial instruments account such as forward exchange contracts and interest rate swap agreement as a hedging instrument to minimize the risk of their business. We have investigated the proper assertion associated with the fair value method applied by Toshiba in their consolidated report. We also presented corresponding audit procedures based on auditing regulations and academic journals.
2. Substantial evidence in determining account at risk and the assertions.
We had determined the accounts at risk and its assertions for inventories and revenues based on the fact happened which were a material misstatement in the financial statement of those two accounts. Our essay had applied some pieces of evidence and historical research to support the opinion; thus the essay is more persuasive and reasonable enough to support the ideas.
3. Combination of accounting…