This unit of study provides students with knowledge and appreciation of the objectives and limitations of an audit, including a theoretical understanding of key auditing principles, concepts and practices, which comprise the audit process. Specifically, the unit of study develops professional and technical skills by exploring some of the key tools used by auditors for collecting and evaluating evidence so as to enable them to express an opinion on the fair presentation of financial reports.
As such, the unit of study provides both a practical and conceptual 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. In addition, the unit of study aims to enhance a number of generic skills through both the formal components of assessment and the student's class participation both manually and through the use of computer software (MYOB). These include: research, problem solving, and analytical skills; written and presentation skills; and group interaction skills.
As such, the unit of study provides both a practical and conceptual 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. In addition, the unit of study aims to enhance a number of generic skills through both the formal components of assessment and the student's class participation both manually and through the use of computer software (MYOB). These include: research, problem solving, and analytical skills; written and presentation skills; and group interaction skills.
Unit details
Location:
Study level:
Postgraduate
Credit points:
12
Unit code:
BAO5524
Prerequisites
BAO5525 - Financial and Corporate Accounting
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Learning Outcomes
| 1. | Critically review why audit and assurance services are essential and argue their need in the current environment in which auditors operate, including legal, ethical and professional aspects; | ||
| 2. | Interpret the key auditing principles, concepts and practices used by auditors to gather evidence and make judgments in order to form an audit opinion on the fair presentation of financial reports; | ||
| 3. | Validate key audit procedures by using them in the audit of specific transactions and account balances in a large organisation; and | ||
| 4. | Exemplify professional practice by acting ethically and responsibly in completing an audit collaboratively. |
Assessment
| Assessment type | Description | Grade |
|---|---|---|
| Test | Mid Semester Test - 50 minutes | 20% |
| Assignment | Group Assignment - Case Study | 20% |
| Examination | Final Examination - 3 hours (all topics) | 60% |
Required reading
Auditing and Assurance Services In Australia (7th ed.).
Grant, G., & Simnett, R. (2018).
Australia: McGraw Hill Education.
Auditing, Assurance and Ethics Handbook (14th ed.).
CPA Australia. (2019).
Milton, QLD: John Wiley.
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