This is a final year required unit in the Bachelor of Business (Accounting) degree. This unit must be completed to satisfy CPA Australia and CAANZ admission requirements as well.

The unit introduces students to some of the key tools used by auditors for collecting and evaluating evidence, in both manual and computerised accounting information systems, so as to enable them to express an opinion on the fair presentation of the financial statements.

In addition, the unit provides students with an insight into the current auditing environment, including legal liability, ethical and other professional aspects such as the "audit expectation gap". As such, the subject provides both a conceptual and practical approach to external, as well as internal and public sector auditing, enabling students to gain a complete picture of the audit process in light of contemporary audit issues.

Active participation in the unit including the completion of the assessments is designed to enhance a number of generic skills. These include: research, problem solving, and analytical skills; written and presentation skills; and group interaction skills.

Unit details

Study level:
Undergraduate
Credit points:
12
Unit code:
BAO3306

Prerequisites

BAO2203 - Corporate Accounting

Learning Outcomes

On successful completion of this unit, students will be able to:
  1. Synthesize the reasons for the existence of a societal demand for audit and assurance services, and an understanding of the current environment in which auditors operate, including legal, ethical and professional aspects;  
  2. Investigate the audit process and apply the techniques used by auditors including business risk analysis, internal control assessment, evidence collection and evaluation, use of computer assisted audit techniques and audit reporting;  
  3. Investigate and develop an insight into the audit of specific transactions and account balances;  
  4. Articulate the auditor's responsibility in completing an audit; and,  
  5. Clarify and advocate other assurance engagements that can be offered by accounting firms.  

Assessment

Melbourne campuses

Students studying under the VU Block Model.

Assessment type Description Grade
Test In-class test x 3 (10%, 15%, 15%) 40%
Assignment Group Assignment 40%
Presentation Group Presentation 20%

Other locations

Assessment type Description Grade
Test Multiple choice questions 20%
Assignment Real life case study 20%
Examination Theory based short answer questions and case studies 60%

Required reading

Auditing: A practical approach (3rd ed.).
Moroney, R., Campbell, F., & Hamilton, J. (2017).
Milton, QLD: Wiley.

Recommended readings will be made available via the unit VU Collaborate site.

Where to next?

As part of a course

You can choose to study this unit as part of the following courses. Refer to the course page for information on how to structure your course to include this unit.

Study a single unit

This unit may be available as a single unit of study.

Find out more about how to apply for single units of study at VU.

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