Module ACCT2061: AUDIT AND ASSURANCE

Department: Accounting

ACCT2061: AUDIT AND ASSURANCE

Prerequisites

• Introduction to Financial Accounting ACCT1041

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

• 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

• 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

• Written communication
• Presenting information effectively, using appropriate tools
• Planning and organisation
• Time management
• Problem solving
• Critical reflection
• Use of the online learning environment to efficiently access and manipulate relevant information

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

• Learning will be based on workshops which enable knowledge transfer and practical skills development. This will be enhanced by independent study, facilitated by online learning materials.
• Formative assessment will take the form of a presentation.
• Summative assessment will take the form of a 3 hour written examination.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment:

Presentation

■ 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