20 credits at level HE6
The aims of this module are:
• To further develop the students understanding of the principles and practice of auditing.
• To develop in the student the ability to evaluate and assess the techniques used in auditing.
• To develop in the student the ability to use professional judgement in selecting an appropriate audit
strategy in a range of scenarios.
• To cultivate in the student the professional skills and competencies expected of a professional
• To develop in the student the ability to critically review, assess and criticise the existing body of auditing
• To raise in the student a critical awareness of social, political and other issues considered in the
development of auditing principles and practice.
Advanced aspects of audit planning, audit risk assessment, consideration of materiality.
2. The organisation of complex audit situations. The audit of groups of companies, detection of illegal acts.
3. Advanced aspects of auditing, design of audit tests, use of audit sampling, verification of complex items,
formulation of an appropriate audit report.
4. The management of the audit process controlling and reviewing audit work, the relationship between
directors and auditors.
5. The impact of information technology on the audit process, the use of computers in the audit process.
6. Current issues.
Where necessary topics will be introduced by a formal lecture with students undertaking directed reading prior to the session. The module is also concerned with developing the students ability to evaluate and apply the knowledge gained in the “auditing” module to increasingly complex scenarios. Students will therefore be presented with a series of case studies and asked to work independently to formulate a response to each. Individual responses will be evaluated, compared and assessed during seminar sessions.
The assessment will take the form of an assignment and examination.
The assignment will take the form of an essay designed to determine the students ability to critically evaluate an aspect of auditing principles and practice. It will be a requirement of the assignment that students carry out a critical review and evaluation of published literature in the area, assess its validity and use this to substantiate their argument. Students will also be expected to formulate their own recommendations for developments in the area under review. The examinationt will take the form of a three hour closed book examination which will consist of a number of unseen case studies. Students will be required to select four case studies and to develop an appropriate approach to each scenario justifying their selection of audit strategy. The case studies presented will be of a more complex and analytical nature than those presented in the prerequisite “Auditing” module.
The learning hours for this module are made up of the following components:
Background Reading 40
Preparation for tutorials 20
Examination preparation 3
when you have successfully completed this module you will:
to demonstrate that you have achieved the learning outcome you will:
|1.||• Critically evaluate and assess the principles and practices of auditing.||• Critically review the principles and practices of auditing.|
|2.||• Demonstrate a critical awareness of the key factors which influence the development of auditing policy.
• Assess the ways in which auditing policy is affected by key factors.
|3.||• Critically review, assess and criticise literature in the area of auditing.
• Construct a coherent argument leading to a clearly stated conclusion based on a critical review and evaluation of published literature in a particular area of auditing.
• Critically assess the validity of established auditing theory and to formulate recommendations for future developments in the area.
|4.||• Use significant judgement to select an appropriate audit strategy in a variety of scenarios.||• Develop an audit approach to a range of complex situations and justify the selection of a particular approach.|
|5.||• Use the professional skills and competencies required of a professional accountant.
||• Present an appropriate response to audit problems using a variety of methods utilised by professional accountants.|
|6.||• Demonstrate independence in their approach to study.||• Access and make use of published resources in the auditing field.|
Your achievement of the learning outcomes for this module will be tested as follows:
|Description||2,500 word essay||3 hour closed book examination|
Before taking this module you must have successfully completed the following:
No restrictions apply.
All current editions:
APB “Fraud and Audit: Choices of Society” 1998.
Flint D. “The Philosophy and Principles of Auditing” Macmillan Education 1998.
Maltby J. “Cases in Auditing” – PCP.
Woolf E. “Auditing Today” – Prentice Hall.
Cosserat G.W. “Modern Auditing” Wiley.
APB The Audit Agenda.
APB Auditing Standards and Guidelines.
Dunn J. “Auditing Theory and Practice” – Prentice Hall International.
Porter Simon & Hatherley “Principles of External Auditing” – Wiley.
Sherer M. & Turley S. (Ed) “Current Issues in Auditing” – PCP.
Grey IHL Manson S. “The Audit Process” Chapman & Hall.
Journals: Walters D. & Dunn J. (Eds) “Student’s Manual of Accounting” Thomson Learning.
Relevabt journals such as:
Accounting & Business Research
Accounting, Organisations & Society
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