Module ACCT2111: Introduction to Audit and Assurance

Department: Accounting

ACCT2111: Introduction to Audit and Assurance

Tied To

• N408: Accounting
• N409: Accounting with Placement Year

Pre-requisites

Corequisites

Excluded Combinations

Aims

• To develop students’ understanding of the critical aspects of managing an assurance engagement (including audit engagements): acceptance, planning, managing, concluding and reporting.

Content

• Legal and other professional regulations, ethics and current issues
• Accepting and managing engagements
• Planning and performing engagements
• Concluding and reporting on engagements

Learning Outcomes

• On completion of this module students should:
• Have an understanding of the processes involved in accepting and managing assurance engagements
• Have an understanding of how quality assurance processes mitigate risks
• Have an awareness of different methods of client assessment including relevant analytical procedures
• Have an understanding of the legal and ethical responsibilities of the auditor
• Have an understanding of the processes involved in accepting, planning and managing assurance engagements

• On completion of this module students should:
• Be able to advise on the regulatory, professional and ethical issues relevant to those carrying out an assurance engagement
• Be able to plan assurance engagements in accordance with the terms of the engagements and appropriate standards, including performing appropriate risk assessments
• Be able to conclude and report on assurance engagements in accordance with the terms of the engagements and appropriate standards

• Planning and organisational skills
• Critical analysis and judgement skills including professional scepticism
• Communication and reporting skills
• Use the online learning environment to efficiently access and manipulate relevant information
• Presenting information effectively, using appropriate tools

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 workshops and independent study; workshop activities and discussions will provide the technical awareness of topics in a comprehensive form. Investigation of cases and real world organisations which underpin the workshops will encourage students to develop awareness of cultural differences and apply these to the development of their skills in managing themselves and others in such contexts.
• The summative examination will test students’ understanding of the main concepts and technical treatments through problem solving and reflection on learning.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment

Case based MCQ and mock exam