Handbook : Unit informationEdith Cowan University

School: Business and Law

This unit information may be updated and amended immediately prior to semester. To ensure you have the correct outline, please check it again at the beginning of semester.

• Unit Title

  Auditing

• Unit Code

  ACC3510

• Year

  2021

• Enrolment Period

  1

• Version

  2

• Credit Points

  15

• Full Year Unit

  N

• Mode of Delivery

  On Campus
  Online

• Unit Coordinator

  Dr Atul CHANDRA

---

Description

This unit adopts the 'risk-based' approach of assurance and audit. It covers the auditing and assurance concepts, frameworks, case laws, standards and regulations for auditors' engagement, planning, decision-making processes, risk assessments, testing procedures and reporting obligations. Future directions in the assurance and auditing environment internationally are covered. Students develop analytical, appraisal thinking, problem-solving, team work, written and oral communication skills.

Prerequisite Rule

Students must have passed ACC2700.

Learning Outcomes

On completion of this unit students should be able to:

1. Apply ethics, independence and corporate governance in the business audit process.
2. Assess risks, analyse entities and determine materiality for planning an audit.
3. Examine tests of control and substantiative tests as part of the audit process.
4. Appraise the audit process to arrive at the auditor’s opinion for businesses.
5. Demonstrate analytical, teamwork and problem-solving, written and oral communication skills for a business audit.

Unit Content

1. Appraising internal audit and testing computerised internal controls.
2. Assurance and auditing framework, standards and guidelines.
3. Audit independence, professional code of ethics and corporate collapses.
4. Evaluating inherent control and business risks.
5. Problems and mitigating factors related to going concern of entities.
6. Professional duty of care, legal duties and liabilities of auditors.
7. Reporting obligations and opinion of auditor.
8. Review procedures and audit completion.
9. Strategy, planning, quality control and supervision by auditors.
10. Substantive testing of computerised transactions and balances.

Learning Experience

ON-CAMPUS

Students will attend on campus classes as well as engage in learning activities through ECUs LMS

For more information see the Semester Timetable

ONLINE

Students will engage in learning experiences through ECUs LMS as well as additional ECU l

Additional Learning Experience Information

On-campus students will be expected to interactively participate in a weekly seminar of three hours duration. Each seminar comprises activities such as, lectures, problem-solving discussions and presentations. The content and order of these activities in the seminar may vary from time to time. Off-campus students will be supplied with unit materials to study and review every week with access via Blackboard. Regular online access to Blackboard and emails is required.

Assessment

GS1 GRADING SCHEMA 1 Used for standard coursework units

Students please note: The marks and grades received by students on assessments may be subject to further moderation. All marks and grades are to be considered provisional until endorsed by the relevant School Progression Panel.

Core Reading(s)

• Gay, G., & Simnett, R. (2018). Auditing & Assurance Services in Australia (7th ed.). Sydney: McGraw Hill. Retrieved from https://ebookcentral.proquest.com/lib/ecu/detail.action?docID=5729228

---