units

ACF3631

Faculty of Business and Economics

18 September 2017 20 April 2024
Monash University

Undergraduate - Unit

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.

print version

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.

LevelUndergraduate
FacultyFaculty of Business and Economics
Organisational UnitDepartment of Accounting
OfferedCaulfield First semester 2015 (Day)
Caulfield Second semester 2015 (Day)
Coordinator(s)Dr Poonam Bir

Synopsis

Nature and objectives of auditing, auditing standards, auditors' responsibilities, professional ethics and auditor independence, audit objectives, planning the audit, analytical review procedures, understanding the internal control structure and assessing control risk and detection risk, preliminary audit strategies and design of substantive tests, auditing in a CIS environment, auditing the transaction cycles and performing substantive procedures, completing the audit and post audit responsibilities, audit reporting, other reports and services.

Outcomes

The learning goals associated with this unit are to:

  1. demonstrate an understanding of the role, limitations and demand for audits in modern corporate society including the auditor's professional, ethical and legal obligations
  2. examine the auditor's role in corporate governance with particular emphasis on the detection and reporting of fraud and error
  3. describe the assurance framework, and apply planning processes and evidence gathering procedures that are used by auditors to form an audit opinion
  4. 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 ACF3631.

Assessment

Within semester assessment: 35%
Examination: 65%

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.

See also Unit timetable information

Chief examiner(s)

Dr Poonam Bir

Prerequisites

AFF2491 or ACF2491

Prohibitions

ACB3041, AFC3160, ACC3160, ACC3631, AFG3041, ACG3041, AFW3041, ACW3041, AFF3631, AFX3631