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 and Assurance Services

• Unit Code

  ACC6030

• Year

  2019

• Enrolment Period

  2

• Version

  2

• Credit Points

  20

• Full Year Unit

  N

• Mode of Delivery

  On Campus
  Online

• Unit Coordinator

  Dr Razimah ABDULLAH

Description

This unit covers both theoretical concepts and practical auditing techniques, including, auditing framework, standards, audit procedures, auditors decision-making processes, and reporting. It adopts a risk-based approach in evaluating the material misstatement related to the risks of the corporations being audited. This unit emphasises the external audit of corporations by professional auditors from their engagement to the issue of their independent opinion, in an ethical environment. Students develop judgemental, appraisal, problem-solving, written and oral communications skills using realistic case studies.

Prerequisite Rule

Students must pass 1 units from ACC6015

Learning Outcomes

On completion of this unit students should be able to:

1. Recommend/use audit concepts and techniques and apply relevant rules and regulations (including auditing standards) in addressing the problem/ issue.
2. Examine cases/ scenarios and identify problems/ issues (including ethical issues) involved.
3. Select relevant data and contextual factors to evaluate risks or impact on diverse stakeholders, where relevant.
4. Establish criteria/ assumptions to be used to solve problems/ issues or to make judgments.
5. Solve the problem by issuing the conclusion/ judgment/ decision, audit opinion, recommendations for action where appropriate.

Unit Content

1. Auditors reporting obligations to form their independent opinion.
2. Auditing and assurance framework, Australian standards (based on international standards), guidelines and pronouncements.
3. Audit review, follow-up procedures, completion of audit and client communication.
4. Going concern assumptions, appropriateness, problems and mitigating factors.
5. Internal control, testing of internal controls and internal audit.
6. Substantive testing and information systems audit
7. Entitys business risk, control risk, inherent risk and its environment.
8. Audit strategy, planning, evidence, experts, quality control and supervision.
9. Auditors professional duty of care, negligence, corporate failures and fraud.
10. Professional code of ethics, audit independence corporate failures and fraud.

Learning Experience

ON-CAMPUS

Students will attend on campus classes as well as engage in learning activities through ECU Blackboard.

For more information see the Semester Timetable

ONLINE

Students will engage in learning experiences through ECU Blackboard as well as additional ECU learning technologies.

Additional Learning Experience Information

Using realistic case studies, students are required to take on the role of an external company auditor to conduct the risk based audit in an audit team, and to form judgments on the stage of the audit they are involved in or to issue their independent auditors opinion.

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 Board of Examiners.

Core Reading(s)

• Gay, G., & Simnett, R. (2015). Auditing and assurance services in Australia. (6th ed.). North Ryde: Prentice-Hall. Retrieved from https://ecu.on.worldcat.org/oclc/887809836
• Gay, G., & Simnett, R. (2015). Auditing and assurance services in Australia. (6th ed.). North Ryde: Prentice-Hall. Retrieved from https://ecu.on.worldcat.org/oclc/887809836