This is an archived handbook for a previous year. The current undergraduate and postgraduate handbooks can be viewed using the links above.
Undergraduate Handbook 2020-2021 (archived)
Module ACCT2061: AUDITING AND ASSURANCE
Department: Accounting
ACCT2061: AUDITING AND ASSURANCE
| Type | Level | Credits | Availability | Module Cap | Location |
|---|---|---|---|---|---|
| Tied | 2 | 20 | Available in 2020/2021 | None. | Durham |
Tied To
- N204: Accounting and Management with Placement Year
- N206: Accounting and Management with Study Abroad
- N302: Accounting and Finance with Placement Year
- N304: Accounting and Finance with Study Abroad
- N305: Finance
- N306: Finance with Placement Year
- N307: Finance with Study Abroad
- NN42: Accounting and Management
- NN43: Accounting and Finance
Pre-requisites
- Introduction to Financial Accounting ACCT1041 (ECON1141)
Corequisites
- None.
Excluded Combinations
- 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 | Attendance Monitored |
|---|---|---|---|---|---|
| Lectures | 10 | weekly | 3 hours | 30 | |
| Revision Lectures | 2 | 1 per week in term 3 | 1 hour | 2 | |
| Seminars | 10 | weekly | 1 hour | 10 | Yes |
| Preparation and reading | 158 | ||||
| Total | 200 |
Summative Assessment
| Component | Component Weighting | Element | Length/Duration | Element Weighting | Resit Opportunity |
|---|---|---|---|---|---|
| Examination | 100% | Written examination | 3 hours | 100% | Same |
Formative Assessment
Research an audit topic and present findings.
Students who do not attend monitored activities shown under Teaching Methods
and Learning Hours, or who fail to complete the summative or formative
assessment(s) specified above, may be subject to the Academic Progress
procedures defined in the University's General Regulation V, and may be
required to leave the University.