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ACC3118 Auditing

Semester 1, 2022 Online
Units : 1
Faculty or Section : Faculty of Business, Education, Law and Arts
School or Department : School of Business
Grading basis : Graded
Course fee schedule : /current-students/administration/fees/fee-schedules

Staffing

Examiner:

Requisites

Pre-requisite: (ACC1102 or ACC2102) and ACC2115

Overview

This course builds on knowledge developed in the financial accounting courses of the accounting major. Auditing is an important component of the regulation and quality assurance processes associated with financial reporting. This course specifically focuses on how financial statement audits are conducted within the Australian professional, ethical and legal framework.

This course introduces the concepts and practices of company financial report audits within the assurance framework. It deals primarily with the process by which the external company auditor appraises and reports on the truth and fairness of the company's financial statements. The course is oriented towards the auditing profession and, in keeping with current practice, adopts a risk-based audit approach and follows the Australian Auditing Standards that are based on the International Standards on Auditing. The course explores how financial statement audits are conducted in computer-based and manual environments for selected systems. Limited practical exposure to auditing is provided through requiring students to complete a case study, using teamwork, as part of the assessment for the course.

Course learning outcomes

On completion of this course students will be able to:

  1. Develop knowledge, communication, critical analysis, problem solving, teamwork, judgement and self-management skills in relation to the practice of auditing in contemporary business organisations;
  2. Consider and appraise the environment in which organisations operate including legal regulations, principles of governance, systems environment, internal controls and ethical issues relating to the practice of auditing;
  3. Implement and critically assess the application of the auditing process including identifying and evaluating risks and audit evidence, and recommending improvements;
  4. Apply and evaluate the use of ICT for analysing data and informing the outcomes of the audit process.

Topics

Description Weighting(%)
1. The auditing and assurance environment 25.00
2. Audit decision and planning processes 30.00
3. Conducting and evaluating audit tests 35.00
4. Completing the audit 10.00

Text and materials required to be purchased or accessed

Leung, P, Coram, P, Cooper, B & Richardson, P 2019, Audit and assurance, 1st edn, John Wiley & Sons, Milton, Queensland.

Student workload expectations

To do well in this subject, students are expected to commit approximately 10 hours per week including class contact hours, independent study, and all assessment tasks. If you are undertaking additional activities, which may include placements and residential schools, the weekly workload hours may vary.

Assessment details

Approach Type Description Group
Assessment
Weighting (%)
Assignments Written Case 精东传媒app No 50
Examinations Invigilated Invigilated examination No 50
Date printed 10 February 2023