Module BUSS2091: AUDITING AND ASSURANCE

Department: Business School (Business) [Queen's Campus, Stockton]

BUSS2091: AUDITING AND ASSURANCE

Prerequisites

• Introduction to Financial Accounting ECOS1081

Corequisites

• None.

Excluded Combination of Modules

• None

Aims

• To introduce students to the audit and assurance processes, and ensure students are able to contribute to the assessment of internal controls, gathering of evidence and reporting on an assurance engagement.

Content

• Introduction to Auditing & Assurance including the distinction between internal and external audit
• The concept and function of assurance
• The processes and tools involved in audit and assurance
• The assurance engagement and gathering appropriate evidence
• Reporting on assurance engagements
• Professional ethics for auditing
• Auditing and governance

Learning Outcomes

• On completion of this module, students will be able to:
• Appreciate the concept of assurance, and the role of the professional auditor
• Understand the audit process from engagement, assessment of risk, planning the audit, through to reporting
• Explain issues related to integrity, objectivity, conflicts of interest, conflicts of loyalty, confidentiality and independence

• By the end of this module, students are expected to be able to:
• Assess audit and business risk to facilitate planning
• Determine strengths and weaknesses of various audit approaches including identification of ethical issues
• Report the findings of an audit or assurance engagement to relevant stakeholders
• Critically understand the context of audit and the issues facing auditors in the context of contemporary capital markets

• Written communication
• Planning and organisation
• Time management
• Problem solving
• Critical reflection

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

• Learning will be based on knowledge transfer from lectures, seminars and personal study. Audit simulation tasks will be used in seminars to introduce aspects of the audit of a multi-national company. Students will present the results of their audit investigations within these seminars through role play activities and will receive formative feedback on both their technical knowledge and their professionalism.
• Formative assessment will allow students to research a particular audit topic of interest and allow them to present their work in the form of a poster presentation to their peers, tutors and professional accountants.
• Summative assessment will test key knowledge and skills ensuring students can complete tasks within a specific time frame. An A3 poster presentation will take place at an Accounting Event with an accompanying reflective statement of 500 words. There is a 3 hours written examination.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment:

Presentation of a different poster within a mock event held in seminars

■ Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University