Auditing and Assurance

    Unit code: BAO3001 | Study level: Undergraduate
    Credit points
    12
    (Generally, 1 credit = 10 hours of classes and independent study.)
    Location
    City Campus
    Footscray Park
    VU Sydney
    Prerequisites
    BAO3002 - Corporate Accounting and Sustainability Reporting
    (Or equivalent to be determined by unit coordinator)
    Overview
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    Overview

    Examine the role of the auditor in assessing financial statements, in the Auditing and Assurance unit.

    This unit introduces you to the key tools used by auditors for collecting and evaluating evidence in accounting information systems. These tools enable auditors to express an opinion on the fair presentation of financial statements.

    In addition, you'll gain insights into the current auditing environment, including:

    • legal liability
    • ethical considerations
    • electronic transactions in a computerised accounting environment
    • the "audit expectation gap".

    By the end of the unit, you will have the full picture of the contemporary audit process, based on conceptual and practical approaches to external, internal and public-sector auditing.

    Learning Outcomes

    On successful completion of this unit, students will be able to:

    1. Synthesise 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 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 formulate 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.

    Study as a single unit

    This unit can be studied on its own, without enrolling in a full degree.

    Learn more about single units of study at VU

    Assessment

    For Melbourne campuses

    Assessment type: Test
    |
    Grade: 50%
    In-class Test - 3 progressive tests (10%, 20%, 20%)
    Assessment type: Assignment
    |
    Grade: 30%
    Audit analysis on a real life company Assignment (Group)
    Assessment type: Presentation
    |
    Grade: 20%
    Presentation on audit analysis (Group)

    Other locations

    For students studying at Henan University, Liaoning University
    Assessment type: Test
    |
    Grade: 10%
    Short answers and analytical questions
    Assessment type: Assignment
    |
    Grade: 30%
    Audit analysis on a real life company (Group)
    Assessment type: Examination
    |
    Grade: 50%
    Theory based short answer questions and case studies
    Assessment type: Presentation
    |
    Grade: 10%
    Presentation on audit analysis (Group)

    Required reading

    Auditing: A practical approach
    Moroney, R., Campbell, F., & Hamilton, J. (2020).| John Wiley & Sons.

    As part of a course

    This unit is studied as part of the following course(s):

    Bachelor of Accounting
    BBAQ | Bachelor degree | Duration: 3 years

    Refer to the course page for information on how to apply for the course. VU takes care to ensure the accuracy of this unit information, but reserves the right to change or withdraw courses offered at any time. Please check that unit information is current with the Student Contact Centre.

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