This course provides you with a detailed understanding of the audit function and an awareness of the topical issues affecting the audit profession. It aims to develop your critical reflection and analysis skills. Audit vocabulary is emphasised to cultivate an ability to skilfully communicate as a future member of the audit profession. You will be exposed to the major concepts associated with financial report audits, including: audit planning, audit evidence, tests of controls and substantive testing. You will also gain an appreciation of the regulatory environment affecting the profession, and evaluate the legal and ethical issues pertinent to auditors.
|Not Yet Determined
|Not Yet Determined
An overview of assurance and auditing
Elements of the financial report audit process
Planning, understanding the entity, assessing business risks, and assessing inherent risk
Understanding, assessing, and testing internal control
Gathering substantive evidence
Contemporary audit issues
Completion and review procedures
The auditor’s reporting obligations
Audit regulation and auditor’s liability
Ethics, independence and corporate governance
600 Level (Specialised)
|Course Learning Outcomes On successful completion of this course, you should be able to...
|Graduate Qualities Mapping Completing these tasks successfully will contribute to you becoming...
|Professional Standard Mapping * Association to Advance Collegiate Schools of Business
|Describe the recent issues and regulations related to auditing.
|Evaluate and analyse ethical and legal dilemmas facing auditors in the context of the Code of Ethics, as well as statutory and common law.
|Synthesise and apply the various concepts and phases of financial statement auditing.
Creative and critical thinker
|Leverage key audit completion steps and critically assess different types of audit reports.
Creative and critical thinker
|Demonstrate written and digital literacy skills for advanced communication and information sharing in a business context.
PC1, PC1.1, PC1.3
|Association to Advance Collegiate Schools of Business
|Creative and Critical Thinking
Refer to the UniSC Glossary of terms for definitions of “pre-requisites, co-requisites and anti-requisites”.
ACC512 or ACC510 and enrolled in any PGRD Program
An understanding of financial accounting concepts.
Standard Grading (GRD)
|High Distinction (HD), Distinction (DN), Credit (CR), Pass (PS), Fail (FL).
Formative feedback will be provided through discussion of weekly homework questions in tutorials from Week 2.
|Individual or Group
|What is the duration / length?
|When should I submit?
|Where should I submit it?
|Online Assignment Submission with plagiarism check
|Examination - Centrally Scheduled
|Online Test (Quiz)
|All - Assessment Task 1:Oral presentation
To provide an opportunity for you to demonstrate an advanced ability to understand and apply fundamental audit concepts.
You will make a recorded audio and video presentation explaining some fundamental audit concepts. More information on the requirements for the presentation will be provided on the course site.
|All - Assessment Task 2:Case study assignment
To enable you to apply and synthesise the knowledge covered in relevant topics to several contemporary problem-solving situations relevant to the field.
The assignment is to be your individual work - it is not a group assignment. Specific details of the case study and task requirements will be made available on the course site.This task is being used for measuring assurance of learning towards Association to Advance Collegiate Schools of Business (AACSB) accreditation. The following Program Competency will be assessed:Program Competency 1.3 - Demonstrate digital literacy skills for advanced communication and information sharing in a business context.
|All - Assessment Task 3:Final examination
To assess your understanding of the knowledge and skills taught throughout the course
|Examination - Centrally Scheduled
This is an individual assessment. Students will be required to explain key audit concepts and apply the concepts to particular case studies and scenarios. Further details are provided in the assessment area of the course site.
A 12-unit course will have total of 150 learning hours which will include directed study hours (including online if required), self-directed learning and completion of assessable tasks. Student workload is calculated at 12.5 learning hours per one unit.
Please note: Course information, including specific information of recommended readings, learning activities, resources, weekly readings, etc. are available on the course Canvas site– Please log in as soon as possible.
Please note that you need to have regular access to the resource(s) listed below. Resources may be required or recommended.
|Gay, G and Simnett, R
|Auditing and Assurance Services in Australia
Academic integrity is the ethical standard of university participation. It ensures that students graduate as a result of proving they are competent in their discipline. This is integral in maintaining the value of academic qualifications. Each industry has expectations and standards of the skills and knowledge within that discipline and these are reflected in assessment.
Academic integrity means that you do not engage in any activity that is considered to be academic fraud; including plagiarism, collusion or outsourcing any part of any assessment item to any other person. You are expected to be honest and ethical by completing all work yourself and indicating in your work which ideas and information were developed by you and which were taken from others. You cannot provide your assessment work to others. You are also expected to provide evidence of wide and critical reading, usually by using appropriate academic references.
In order to minimise incidents of academic fraud, this course may require that some of its assessment tasks, when submitted to Canvas, are electronically checked through Turnitin. This software allows for text comparisons to be made between your submitted assessment item and all other work to which Turnitin has access.
Your eligibility for supplementary assessment in a course is dependent of the following conditions applying: The final mark is in the percentage range 47% to 49.4% The course is graded using the Standard Grading scale You have not failed an assessment task in the course due to academic misconduct
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