units

ACB3041

Faculty of Business and Economics

18 September 2017 20 April 2024

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This unit entry is for students who completed this unit in 2016 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.

Monash University

6 points, SCA Band 3, 0.125 EFTSL

Undergraduate - Unit

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

Faculty

Business and Economics

Organisational Unit

Department of Accounting

Coordinator(s)

Dr Lisa Powell

Offered

Berwick

  • Second semester 2016 (Day)

Synopsis

This unit examines 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.

Outcomes

The learning goals associated with this unit are to:

  1. explain the role, limitations and demand for audits in modern corporate society including the auditor's professional, ethical and legal obligations
  2. explain the auditor's role in corporate governance with particular emphasis on the detection and reporting of fraud and error
  3. describe the assurance framework, planning process and evidence gathering procedures 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 ACB3041.

Assessment

Within semester assessment: 30%
Examination: 70%

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 Lisa Powell

Prerequisites

ACB2491 or ACC2120 or ACF2491 or ACG2491 or ACW2491 or AFC2120 or AFF2491 or AFG2491 or AFW2491

Prohibitions

ACW3041, AFG3041, ACG3041, AFC3160, ACC3160, AFF3631, ACF3631