Undergraduate Programme and Module Handbook 2020-2021 (archived)
Module ACCT2061: AUDITING AND ASSURANCE
Department: Accounting
ACCT2061: AUDITING AND ASSURANCE
| Type | Tied | Level | 2 | Credits | 20 | Availability | Available in 2020/21 | Module Cap | None. | Location | Durham |
|---|
| Tied to | NN43 |
|---|---|
| Tied to | N302 |
| Tied to | N304 |
| Tied to | NN42 |
| Tied to | N204 |
| Tied to | N206 |
| Tied to | N305 |
| Tied to | N306 |
| Tied to | N307 |
Prerequisites
- Introduction to Financial Accounting ACCT1041 (ECON1141)
Corequisites
- None.
Excluded Combination of Modules
- None
Aims
- This module will introduce students to the world of audit and assurance. It follows the journey of an engagement through planning and risk assessment, obtaining evidence, drawing conclusions, to audit reporting. All of this is set within the context of professional ethics.
Content
- Audit framework and regulation
- Planning and risk assessment
- Internal control
- Audit evidence
- Reviewing and reporting
Learning Outcomes
Subject-specific Knowledge:
- On completion of this module, students will be able to:
- Appreciate the concepts of audit and assurance
- Understand the audit and assurance process from engagement, planning and assessment of risk, obtaining evidence, through to reporting
- Explain issues related to the context in which audit and assurance operates including potential challenges to professional ethics and professional scepticism
Subject-specific Skills:
- By the end of this module, students are expected to be able to:
- Assess risk to facilitate planning
- Determine an appropriate response to risks identified including consideration of ethical issues
- Report the findings of an audit or assurance engagement to relevant stakeholders
Key Skills:
- 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, skills development in seminars and independent study. Simulated audit tasks will be used in seminars to enable practical skills development.
- Formative assessment will allow students to research a particular audit topic of interest and allow them to present their work.
- Summative assessment will take the form of a 3 hour written examination.
Teaching Methods and Learning Hours
| Activity | Number | Frequency | Duration | Total/Hours | |
|---|---|---|---|---|---|
| Lectures | 10 | weekly | 3 hours | 30 | |
| Revision Lectures | 2 | 1 per week in term 3 | 1 hour | 2 | |
| Seminars | 10 | weekly | 1 hour | 10 | ■ |
| Preparation and reading | 158 | ||||
| Total | 200 |
Summative Assessment
| Component: Examination | Component Weighting: 100% | ||
|---|---|---|---|
| Element | Length / duration | Element Weighting | Resit Opportunity |
| Written examination | 3 hours | 100% | Same |
Formative Assessment:
Research an audit topic and present findings.
■ 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