Module ECON43315: Auditing and Assurance Services

Department: Economics and Finance

ECON43315: Auditing and Assurance Services

Prerequisites

• None.

Corequisites

• None.

Excluded Combination of Modules

• None.

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 the 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 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:

Online test administered via DUO. 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.

■ 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