Undergraduate - UnitACC3160 - Auditing and assurance

This unit entry is for students who completed this unit in 2015 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.

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6 points, SCA Band 3, 0.125 EFTSL

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.

Level	Undergraduate
Faculty	Faculty of Business and Economics
Organisational Unit	Department of Accounting
Offered	Clayton First semester 2015 (Day) Clayton Second semester 2015 (Day) Malaysia Second semester 2015 (Day)

Synopsis

Topics include an overview of the audit function and assurance framework, and of different types of audit and assurance service; duties of the external auditor; the auditor's liability to third parties; detection and reporting of fraud; the audit process and techniques including planning, business risk assessment, tests of controls, substantive testing, reviewing internal control, gathering audit evidence, using analytical procedures, and audit sampling; the audit of computer information systems; audit reporting; internal auditing; performance auditing; and emerging issues.

Outcomes

The learning goals associated with this unit are to:

demonstrate an understanding of the role, limitations and demand for audits in modern corporate society including the auditor's professional, ethical and legal obligations
examine the auditor's role in corporate governance with particular emphasis on the detection and reporting of fraud and error
describe the assurance framework, and apply planning processes and evidence gathering procedures that are 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 and demonstrate in an individual summative assessment task the acquisition of a comprehensive understanding of the topics covered by ACC3160.

Assessment

Within semester assessment: 40%
Examination: 60%

Workload requirements

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.

Chief examiner(s)

Dr Poonam Bir

Prerequisites

AFC2120 or ACC2120

Prohibitions

ACB3041, AFF3631, ACF3631, AFG3041, ACG3041, AFC3160, AFC3164, AFW3041, ACW3041, AFC3160