Module ACCT3151: Audit and Assurance

Department: Accounting

ACCT3151: Audit and Assurance

Prerequisites

• ACCT2111 Assurance

Corequisites

• None

Excluded Combination of Modules

• ACCT2061 Audit and Assurance

Aims

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

• By the end of the module students should be able to:
• Understand the regulatory, professional, and ethical issues relevant to those carrying out an assurance engagement.
• Understand the processes involved in accepting and managing assurance engagements.
• Understand how quality assurance processess mitigate risks.

• By the end of the module students should be able to:
• Advise on the regulatory, professional, and ethical issues relevant to those carrying out an assurance engagement.
• Plan assurance engagements in accordance with the terms of the engagements and appropriate auditing and assurance standards.
• Conclude and report on assurance engagements in accordance with the terms of the engagement and appropriate standards.

• Written communication
• Planning and organisation
• Time management
• Problem solving

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.
• Formative assessment will consist of a number of practice tests.
• Summative assessment will consist of a 2.5 hour written timed invigilated examination and a 2500 word written assignment.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment:

Practice tests

■ 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