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.
BAO2203 - Corporate Accounting
|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.|
Students studying under the VU Block Model.
|Test||In-class test x 3 (10%, 15%, 15%)||40%|
|Test||Multiple choice questions||20%|
|Assignment||Real life case study||20%|
|Examination||Theory based short answer questions and case studies||60%|
Auditing: A practical approach (3rd ed.).
Moroney, R., Campbell, F., & Hamilton, J. (2017).
Milton, QLD: Wiley.
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