20 credits at level HE5
The aims of this module are:
• To develop in the student an understanding of the principles and practice of auditing.
• To develop in the student an understanding of the role of professional and legal bodies in the areas of auditing.
• To develop in the student a knowledge of the techniques and skills required by the professional auditor.
• To develop in the student the ability to evaluate the existing ‘body’ of auditing knowledge.
1. The nature and purpose of audit
The objectives of audit, the audit framework, the requirement for audit. Professional Body Pronouncements.
2. The auditor
The role of the auditor, qualifications, appointment, resignation and dismissal, the role of Professional Bodies.
3. The planning and control of audit.
Fundamental audit concepts, audit planning techniques, audit risk.
4. Audit testing
Types of audit tests, analytical review, verification of balance sheet items, the audit of key cycles.
5. The Audit Report
Qualified and unqualified reports, contents of the report.
6. Current Issues
Each topic will be introduced by a formal lecture. Students will be expected to prepare in advance of each session by undertaking some preliminary directed reading on the scheduled topic. Lectures will be followed by tutorial sessions where students will examine case studies relating to specific aspects of auditing. This will provide students with the opportunity to demonstrate an understanding and application of the knowledge and concepts introduced in lectures and will allow for guidance and feedback on progression within the module. Guest Speakers will be invited into the Business School to provide students with an opportunity to gain an insight into practical aspects of auditing.
The module is assessed by assignment and examination.
The assignment will l take the form of an essay designed to determine the student’s level of understanding of the main principles and concepts of a particular aspect of auditing and the impact of the audit regulatory framework on that particular area. It will be a requirement of the assignment that students base their response on an evaluation of established and contemporary literature in this field, drawing on the literature to substantiate and support the formulated argument.The examination will take the form of a three hour closed book examination which will consist of a number of unseen mini case studies. Students will be required to select four case studies and to use legislation and professional body pronouncement to develop a response to a particular scenario.
The learning hours for this module are made up of the following components:
Directed reading 39
Preparation for tutorials 39
Exam preparation 60
Total hours 200
when you have successfully completed this module you will:
to demonstrate that you have achieved the learning outcome you will:
|1.||• Demonstrate an understanding of the principles and practice of auditing.||
• Summarise the main principles and concepts of auditing.
|2.||• Demonstrate an understanding of the role of legal and professional bodies in the area of auditing.||
• Explain the impact of legal and professional bodies on audit theory and practice.
|3.||• Evaluate literature in the area of auditing.||
• Construct a coherent argument leading to a clearly stated conclusion based on an evaluation of published literature.
• Recognise areas of current development.
|4.||• Construct a coherent argument leading to a clearly stated conclusion based on an evaluation of published literature.
• Recognise areas of current development.
|• Use legislation and professional body pronouncements to develop a response to a variety of audit scenarios|
|5.||• Make effective use of the English language.||• Communicate effectively|
|6.||• Use the world- wide web and other electronic sources of information.
• Provide evidence through referencing/ bibliographies etc.
Your achievement of the learning outcomes for this module will be tested as follows:
|Description||2,500 word essay||three hour closed book examination|
Before taking this module you must have successfully completed the following:
No restrictions apply.
All current editions:
APB “The Audit Agenda” 1994
APB “Auditing Standards and Guidelines”
Cosserat, GW, “Modern Auditing” Wiley
Dunn, J, “Auditing Theory and Practice” Prentice Hall
Grey, IH & Manson, S, “ The Audit Process” Chapman & Hall
Millichamp, AH, “Auditing” DP Publications Ltd
Porter, B, Simon, J & Hatherley, D, “Principles of External Auditing” Wiley
Walters, D & Dunn, J (Eds.), “Student’s Manual of Auditing” Thomson Learning
Woolf, E, “Auditing Today” Prentice Hall
Accounting and Business REsearch
British Accounting Review
International Journal of Auditing
|Host Subject Group:|
|User Name||Date Accessed||Action|