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iRubric: Case 15-01 Question 2 rubric

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Case 15-01 Question 2 For use in evaluating the Fraud Risk Assessment Rubric Code: BX3B762 By jfuehrme Ready to use Public Rubric Subject: Accounting Type: Assignment Grade Levels: Undergraduate

Case 15-01 Fraud Risk Assessment Descriptions
	Exceeds Expectations 10 pts	Meets Expectations 7 pts	Does Not Meet Expectations 4 pts
Risk identification process	Exceeds Expectations Identifies risk within the context of the guidance in professional literature using the Fraud Triangle as the evaluation framework; notes that Revenue Recognition in general is presumed to be a specific risk of fraud	Meets Expectations Develops an inventory of fraud risk factors using the lists of such factors included in AU-C 240 or in PCAOB Interim Standard 316 but does not use the broader framework.	Does Not Meet Expectations Identification of fraud risk factors is done intuitively without reference to AICPA or PCAOB guidance
Professional Literature	Exceeds Expectations Identifies appropriate references in both AICPA and PCAOB guidance; goes well beyond the minimums required to answer the question in the case.	Meets Expectations Utilizes either AICPA or PCAOB references and appropriately cites applicable sections and paragraphs of the chosen supporting professional literature.	Does Not Meet Expectations Does not identify appropriate AICPA or PCAOB literature; utilizes no professional material or utilizes non-authoritative documents.
Fraud Risk Factors	Exceeds Expectations Develops a comprehensive listing of fraud risk factors related specifically to the revenue recognition issues inherent in the case; ties them to the Fraud Triangle.	Meets Expectations Develops a listing of many fraud risk factors inherent in the case; either does not relate them to specific revenue recognition issues or does not tie them to the Fraud Triangle.	Does Not Meet Expectations Identifies few of the Fraud Risk factors inherent in this case; does not relate them to revenue issues or facts present in the case; does not recognize the relationship to the Fraud Triangle.