AFW3041 - Auditing and assurance

Offered

Berwick Second semester 2008 (Day)
Gippsland Second semester 2008 (Day)
Gippsland Second semester 2008 (Off-campus)
Sunway Second semester 2008 (Day)
Singapore Second semester 2008 (Off-campus)
Peninsula Second semester 2008 (Day)

Synopsis

Overview of auditing, the auditor's legal liabilities, audit process and evidence, the concepts of materiality and risks, study and evaluation of internal control, EDP auditing, audit sampling techniques, the test of transactions cycles and the verification of account balances, auditors reports, and internal and operational auditing.

Objectives

The learning objectives of this unit are to:

• explain the role, limitations and demand for audits in modern corporate society including the auditor?s professional, ethical and legal obligations;
• explain the auditor?s role in corporate governance with particular emphasis on the detection and reporting of fraud and error;
• describe the assurance framework, planning process and evidence gathering procedures used by auditors to form an audit opinion;
• apply critical thinking, problem solving and presentation skills to individual and/or group activities dealing with auditing and assurance matters.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%,

Contact hours

3 hours per week

Prerequisites

AFW2491 or equivalent

Prohibitions

AFC3160, AFF3631