ACF5957 - Auditing and assurance

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Overview

Topics include nature and objectives of auditing; auditing standards; audit reporting; audit expectation gap and legal liability; professional ethics and quality control; audit evidence; audit planning, strategic business risk analysis, materiality, analytical review procedures and audit risk model; study and evaluation of internal control and model; assessing control risk CIS … For more content click the Read More button below.

Topics include nature and objectives of auditing; auditing standards; audit reporting; audit expectation gap and legal liability; professional ethics and quality control; audit evidence; audit planning, strategic business risk analysis, materiality, analytical review procedures and audit risk model; study and evaluation of internal control and model; assessing control risk CIS audit techniques, test of transactions and tests of balances, completing the audit and post audit responsibilities; internal auditing and performance auditing, other assurance services and current issues in auditing.

Offerings

S1-01-CAULFIELD-EVENING

S1-01-CAULFIELD-ON-CAMPUS

S2-01-CAULFIELD-ON-CAMPUS

Requisites

Prerequisite

Rules

Enrolment Rule

Contacts

Chief Examiner(s)

Dr Ashna Prasad

Dr Soon-Yeow Phang

Learning outcomes

On successful completion of this unit, you should be able to:

explain and debate the role, limitations and demand for audits in modern corporate society, and give examples of the professional, ethical and legal obligations, and the standards and principles applicable to the audit profession

distinguish between the different types and levels of assurance services provided by professional practitioners, including auditors, and describe the assurance framework

examine the auditor's role in corporate governance with particular emphasis on assessment of internal controls and the detection and reporting of fraud and error

identify, distinguish between and apply the key evidence gathering procedures used by auditors when planning, testing, completing the audit and forming an audit opinion

demonstrate an ability to work independently and to lead and participate in teams from diverse cultural and social backgrounds in independent and group assessable tasks

apply critical thinking, problem solving and presentation skills to individual and / or group activities dealing with auditing and assurance and demonstrate in an individual summative assessment task the acquisition of a comprehensive understanding of the topics covered by ACF5957.

Teaching approach

Case-based teaching

Problem-based learning

Active learning

Assessment

1 - Within semester assessment

2 - Examination

Scheduled and non-scheduled teaching activities

Lectures

Tutorials

Workload requirements

Workload

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.

Learning resources

Required resources

Technology resources

Other unit costs

Costs are indicative and subject to change.
Electronics, calculators and tools: $40