Module ECON43315: Auditing and Assurance Services

Department: Business School (Economics and Finance)

ECON43315: Auditing and Assurance Services

Tied To

• L1K109: Economics and Finance (see Postgraduate Handbook 2012-2013 for details)
• L1K209: Accounting and Finance (see Postgraduate Handbook 2011-2012 for details)
• L1K309: Corporate and International Finance (see Postgraduate Handbook 2012-2013 for details)
• L1K509: International Banking and Finance (see Postgraduate Handbook 2012-2013 for details)
• L1K609: International Money, Finance and Investment (see Postgraduate Handbook 2011-2012 for details)
• L1K709: Finance (see Postgraduate Handbook 2011-2012 for details)
• L1K809: Finance and Investment (see Postgraduate Handbook 2011-2012 for details)
• N3K109: Finance
• N3K209: Finance (Accounting and Finance)
• N3K309: Finance (Corporate and International Finance)
• N3K409: Finance (Finance and Investment)
• N3K509: Finance (International Money, Finance and Investment)
• N3K609: Finance (International Banking and Finance)
• N3K709: Finance (Economics and Finance)

Pre-requisites

Corequisites

Excluded Combinations

Aims

• To examine the practice of auditing and the underlying concepts including:
• the need for an independent audit and the development of the role of the auditor in modern business society;
• the roles/responsibilities of internal and external auditors;
• the concepts of audit risk and assurance;
• the various levels of persuasiveness of different types of audit evidence and explaining the broad principles of audit sampling techniques.

Content

• An Introduction to Audit and Other Assurance Services
• Standards, Materiality, and Risk
• Audit Reports
• Professional Ethics
• Audit Evidences
• The Audit Process and Detecting Fraud
• Audit Sampling
• Other Assurance and Attestation Services
• Compliance and Internal Auditing

Learning Outcomes

• By the end of thr module students should have a specialist knowledge and critical understanding of:
• different types of audits, audit opinions and audit reports;
• the different attestation and assurance services;
• ethical issues in the context of professional accounting and auditing services.

• By the end of this module students should be able to:
• identify auditor’s liability issues.

• written communication
• planning, organising and time management
• problem-solving and analytical skills

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

• A combination of lectures, seminars, small group work and guided reading will contribute to achieving the aims and learning outcomes of this module.
• The summative written assignment will be in the form of a case study analysis to test students' specialist knowledge and critical understanding of the material covered in the module, and their communication, problem-solving and analytical skills.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment

Students will receive written comments on a formative group presentation. Additional formative assessment, and feedback, may take a number of forms such as oral feedback on work prepared by students for seminars; answers to questions either discussed during a seminar, or posted on DUO.