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