give me some tips to complete the assignment. The report is expected to draw on: ? media reports (see "Some useful web links which will help you preparing your report") ? official websites of professional accounting bodies, accounting firms (particularly the Big 4), and other organisations ? reports issued by professional accounting bodies, accounting firms (particularly, the Big 4), and other organisations ? scholarly articles from academic journals The report should include an executive summary

Rise and fall of Dick Smith: Lessons Learned (Marks: 20) Dick Smith Holdings Limited (also known as Dick Smith, Dick Smith Electronics or DSE), until 2016, was a wellknown brand for consumer electronics goods. The company was founded in Sydney in 1968 by Dick Smith and owned by him and his wife until they sold to Woolworths Limited in 1982. Private equity firm Anchorage Capital purchased the Dick Smith business from Woolworths for $115 million in November 2012, paying just $20 million upfront, and floated the company on the ASX with a market valuation of $520 million 12 months later1 . The retailer's share price began to lose ground in the second half of 2015 following two profit warnings and weaker than expected sales. Net profit after tax for the 2016 financial year had previously been forecasted to come in at between $45 million to $48 million, however, Dick Smith said in a trading update at the end of October that that figure was likely to be between $5 million and $8 million lower. At the end of November, Dick Smith revealed it was writing off 20% of its stock to the tune of $60 million2 . On 4 January 2016, shares of Dick Smith Holdings last traded at 35.5 cents, which is a decline of more than 80% from the company's debut share price of $2.20 when it listed on the Australian Securities Exchange in December 2013. The following day, Dick Smith Holdings Limited (and associated entities) was placed into administration by its major creditors National Australia Bank (NAB) and HSBC Bank Australia. McGrath Nicol were appointed as administrators by the company's board and receivers Ferrier Hodgson appointed by the creditors. CEO Nick Abboud stepped down on January 12th, 20163 . In its own company reports, Dick Smith Electronics attributed failure to cyclical factors specific to the company, namely unexpected weakness in sales and constraints on its ability to finance inventory investment. But market analysts have suggested that structural company-specific factors such as poor corporate governance arrangements and low transparency in financial reporting - was also contributed to this failure4 . Assessment details Assume that you are a summer vacation intern at the Melbourne office of an international accounting firm and that along with some fellow interns you have been assigned to work on a group project to produce a report on Dick Smith Holdings Ltd for the period 2013-2016. The purpose of the report is to improve the knowledge of retail investors. Your group report should specifically address, but not be limited to, an examination of the following matters: (i) (ii) (iii) (iv) (v) (vi) The prospectus for fundraising in 2013 The practice of manipulating sales figures & stock inventories and accounting policies thereof. Poor corporate governance arrangements and low transparency in financial reporting Appointment of administrator, receiver, and liquidator Position of creditors re receivership and liquidation Directors' duties - including insolvent trading and implications The report is expected to draw on: media reports (see \"Some useful web links which will help you preparing your report\") official websites of professional accounting bodies, accounting firms (particularly the Big 4), and other organisations reports issued by professional accounting bodies, accounting firms (particularly, the Big 4), and other organisations scholarly articles from academic journals The report should include an executive summary