AFF9621

Auditing

Mr Gurdarshan S. Gill

6 points · 3 hours per week, or equivalent · First, second, summer semester · Caulfield, Sydney, Singapore, Hong Kong, in-house (not offered in all locations in all semesters) · Prerequisites: AFF9601, BTF9541

Objectives On completion of this subject students should be able to explain the nature and scope of the auditor's work, obtain an understanding of audit principles and audit testing methodology; have an understanding of the elements of internal control structure and the methodology for the study and evaluation of the same; perform analytical review procedures, tests of controls and substantive procedures; formulate an appropriate opinion based on results of the audit.

Synopsis Topics include nature and objectives and auditing; auditing standards; audit reporting; auditors' responsibilities; audit expectation gap and legal liability; professional ethics and quality control; assertions, objectives, evidence and working papers; audit planning, materiality, risk and analytical review procedures; preliminary audit strategy; study and evaluation of internal control structures, the internal control issues relating to computers; assessing control risk and tests of controls; assessing detection risk; auditing the transaction cycles; completing the audit and post audit responsibilities; audit reporting.

Assessment Multiple-choice test: 20% · Research paper: 20% · Examination: 60%

Prescribed texts

Gill G S and Cosserat G W P Modern auditing in Australia 4th edn, Wiley, 1996

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